Arrowstreet Capital Limited Partnership Purchases Shares of 28,903 Castle Biosciences, Inc. (NASDAQ:CSTL)

Arrowstreet Capital Limited Partnership purchased a new position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 28,903 shares of the company's stock, valued at approximately $770,000. Arrowstreet Capital Limited Partnership owned 0.10% of Castle Biosciences as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Janus Henderson Group PLC purchased a new position in shares of Castle Biosciences in the third quarter valued at $261,000. State Street Corp increased its position in Castle Biosciences by 9.8% during the 3rd quarter. State Street Corp now owns 680,001 shares of the company's stock worth $19,394,000 after purchasing an additional 60,924 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in Castle Biosciences by 3.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 24,206 shares of the company's stock valued at $690,000 after purchasing an additional 845 shares in the last quarter. Barclays PLC grew its holdings in shares of Castle Biosciences by 310.7% during the third quarter. Barclays PLC now owns 52,301 shares of the company's stock worth $1,491,000 after buying an additional 39,567 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Castle Biosciences by 1.1% during the third quarter. Geode Capital Management LLC now owns 624,683 shares of the company's stock valued at $17,820,000 after buying an additional 7,004 shares during the period. Institutional investors and hedge funds own 92.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Robert W. Baird increased their price target on Castle Biosciences from $36.00 to $37.00 and gave the stock an "outperform" rating in a research note on Friday, February 28th. Guggenheim set a $30.00 target price on shares of Castle Biosciences and gave the stock a "buy" rating in a research report on Friday, March 28th. Finally, Stephens restated an "overweight" rating and issued a $41.00 price objective on shares of Castle Biosciences in a report on Thursday, January 2nd. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $38.75.

Insider Buying and Selling at Castle Biosciences

In other news, insider Derek J. Maetzold sold 1,236 shares of the firm's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $20.30, for a total value of $25,090.80. Following the transaction, the insider now directly owns 77,099 shares in the company, valued at approximately $1,565,109.70. This trade represents a 1.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel Bradbury sold 7,867 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $28.17, for a total value of $221,613.39. The disclosure for this sale can be found here. Insiders sold a total of 34,085 shares of company stock worth $748,045 in the last 90 days. 7.20% of the stock is owned by corporate insiders.

Castle Biosciences Stock Up 1.4 %

CSTL stock traded up $0.29 during trading on Thursday, reaching $21.55. The stock had a trading volume of 130,962 shares, compared to its average volume of 379,143. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a 1-year low of $16.97 and a 1-year high of $35.84. The firm has a fifty day moving average price of $21.92 and a 200 day moving average price of $26.95. The company has a market capitalization of $621.60 million, a P/E ratio of 108.08 and a beta of 1.11.

Castle Biosciences 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.