8,400 Shares in Castle Biosciences, Inc. (NASDAQ:CSTL) Purchased by Denali Advisors LLC

Denali Advisors LLC bought a new position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 8,400 shares of the company’s stock, valued at approximately $186,000.

Several other hedge funds have also recently bought and sold shares of CSTL. Jacobs Levy Equity Management Inc. lifted its stake in Castle Biosciences by 112.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 547,403 shares of the company’s stock worth $9,246,000 after acquiring an additional 289,252 shares in the last quarter. Walleye Capital LLC acquired a new stake in Castle Biosciences in the 3rd quarter valued at about $2,885,000. Intrinsic Edge Capital Management LLC raised its position in Castle Biosciences by 108.8% in the 4th quarter. Intrinsic Edge Capital Management LLC now owns 326,270 shares of the company’s stock valued at $7,041,000 after purchasing an additional 170,000 shares in the last quarter. Parkman Healthcare Partners LLC raised its position in Castle Biosciences by 59.0% in the 4th quarter. Parkman Healthcare Partners LLC now owns 357,156 shares of the company’s stock valued at $7,707,000 after purchasing an additional 132,564 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its position in Castle Biosciences by 294.4% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 148,030 shares of the company’s stock valued at $2,500,000 after purchasing an additional 110,500 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Castle Biosciences Stock Performance

Shares of CSTL stock traded down $0.01 during midday trading on Wednesday, hitting $21.25. The company had a trading volume of 328,977 shares, compared to its average volume of 249,957. The company’s 50 day simple moving average is $22.92 and its 200 day simple moving average is $22.00. Castle Biosciences, Inc. has a 52-week low of $12.07 and a 52-week high of $25.91. The stock has a market cap of $586.71 million, a price-to-earnings ratio of -18.49 and a beta of 0.93. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.25 and a quick ratio of 9.02.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.28. Castle Biosciences had a negative return on equity of 7.91% and a negative net margin of 12.28%. The firm had revenue of $72.97 million during the quarter, compared to analysts’ expectations of $68.34 million. Research analysts anticipate that Castle Biosciences, Inc. will post -1.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Castle Biosciences

In other news, insider Derek J. Maetzold sold 1,947 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $20.35, for a total value of $39,621.45. Following the completion of the sale, the insider now owns 65,418 shares of the company’s stock, valued at $1,331,256.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Derek J. Maetzold sold 1,947 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $20.35, for a total value of $39,621.45. Following the completion of the sale, the insider now owns 65,418 shares of the company’s stock, valued at $1,331,256.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Derek J. Maetzold sold 2,368 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $23.40, for a total value of $55,411.20. Following the completion of the sale, the insider now directly owns 57,893 shares of the company’s stock, valued at approximately $1,354,696.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,979 shares of company stock valued at $982,105. Company insiders own 7.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird increased their price target on Castle Biosciences from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd.

Castle Biosciences Company Profile

Castle Biosciences, Inc, a molecular diagnostics company, provides testing solutions for the diagnosis and treatment of dermatologic cancers, Barrett's esophagus, uveal melanoma, and mental health conditions. It offers DecisionDx-Melanoma, a risk stratification gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma; DecisionDx-SCC, a proprietary risk stratification GEP test for patients with cutaneous squamous cell carcinoma; MyPath Melanoma, a test used for patients with difficult-to-diagnose melanocytic lesions; and TissueCypher, a spatial omics test to predict future development of high-grade dysplasia and/or esophageal cancer in patients with non-dysplastic, indefinite dysplasia, or low-grade dysplasia Barrett's esophagus.