Castle Biosciences, Inc. (NASDAQ:CSTL) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its position in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 5.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 258,866 shares of the company's stock after selling 15,895 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.92% of Castle Biosciences worth $6,899,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CSTL. R Squared Ltd acquired a new position in Castle Biosciences in the 4th quarter worth approximately $42,000. Quest Partners LLC increased its stake in shares of Castle Biosciences by 54.4% in the third quarter. Quest Partners LLC now owns 4,318 shares of the company's stock worth $123,000 after acquiring an additional 1,522 shares during the period. Point72 DIFC Ltd purchased a new position in shares of Castle Biosciences during the third quarter worth $140,000. China Universal Asset Management Co. Ltd. lifted its position in Castle Biosciences by 11.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,939 shares of the company's stock valued at $158,000 after purchasing an additional 604 shares during the period. Finally, Oak Harvest Investment Services purchased a new stake in Castle Biosciences in the fourth quarter valued at $206,000. Institutional investors and hedge funds own 92.60% of the company's stock.

Insiders Place Their Bets

In other news, Director Daniel Bradbury sold 7,867 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $28.17, for a total transaction of $221,613.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Derek J. Maetzold sold 2,715 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $29.62, for a total value of $80,418.30. Following the completion of the transaction, the insider now owns 82,047 shares in the company, valued at approximately $2,430,232.14. This trade represents a 3.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,204 shares of company stock worth $1,055,988. 7.20% of the stock is owned by corporate insiders.

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Analysts Set New Price Targets

A number of equities analysts have weighed in on CSTL shares. Robert W. Baird lifted their price objective on Castle Biosciences from $36.00 to $37.00 and gave the company an "outperform" rating in a research note on Friday, February 28th. Stephens reiterated an "overweight" rating and set a $41.00 price target on shares of Castle Biosciences in a research report on Thursday, January 2nd. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Castle Biosciences has an average rating of "Buy" and an average target price of $40.00.

Castle Biosciences Price Performance

Shares of NASDAQ:CSTL traded up $0.02 during trading on Thursday, reaching $20.10. 178,034 shares of the company's stock traded hands, compared to its average volume of 361,744. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a fifty-two week low of $16.97 and a fifty-two week high of $35.84. The company has a 50-day simple moving average of $24.39 and a 200-day simple moving average of $28.13. The firm has a market cap of $562.94 million, a PE ratio of 100.51 and a beta of 0.98.

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.