Connor Clark & Lunn Investment Management Ltd. Acquires 3,255 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,713 shares of the company’s stock after buying an additional 3,255 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.60% of Castle Biosciences worth $4,496,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CSTL. R Squared Ltd bought a new stake in Castle Biosciences during the 4th quarter worth about $42,000. Quest Partners LLC lifted its position in Castle Biosciences by 54.4% during the 3rd quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock worth $123,000 after buying an additional 1,522 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Castle Biosciences during the 3rd quarter worth about $140,000. Assetmark Inc. lifted its position in Castle Biosciences by 16.8% during the 3rd quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock worth $149,000 after buying an additional 748 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in Castle Biosciences by 11.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,939 shares of the company’s stock worth $158,000 after buying an additional 604 shares in the last quarter. 92.60% of the stock is owned by institutional investors.

Insider Activity at Castle Biosciences

In related news, Director Daniel Bradbury sold 7,867 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $29.14, for a total value of $229,244.38. Following the transaction, the director now owns 1,425 shares in the company, valued at approximately $41,524.50. This represents a 84.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Derek J. Maetzold sold 9,364 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $28.34, for a total transaction of $265,375.76. Following the completion of the transaction, the insider now owns 84,762 shares in the company, valued at approximately $2,402,155.08. This trade represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,568 shares of company stock worth $1,321,364. Insiders own 7.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CSTL has been the topic of a number of research analyst reports. Robert W. Baird upped their target price on shares of Castle Biosciences from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Stephens reaffirmed an “overweight” rating and issued a $41.00 target price on shares of Castle Biosciences in a report on Thursday, January 2nd. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $40.00.

Castle Biosciences Stock Up 2.8 %

Shares of CSTL opened at $19.29 on Monday. Castle Biosciences, Inc. has a 52 week low of $16.97 and a 52 week high of $35.84. The firm has a market cap of $540.26 million, a P/E ratio of 96.45 and a beta of 0.98. The firm’s 50-day simple moving average is $25.80 and its 200 day simple moving average is $28.63. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78.

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.