Charles Schwab Investment Management Inc. Boosts Stock Holdings in Castle Biosciences, Inc. (NASDAQ:CSTL)

Charles Schwab Investment Management Inc. increased its holdings in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 16.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 274,761 shares of the company's stock after purchasing an additional 39,417 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.98% of Castle Biosciences worth $7,836,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Intech Investment Management LLC bought a new stake in Castle Biosciences in the third quarter worth $236,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Castle Biosciences by 147.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,458 shares of the company's stock worth $4,719,000 after acquiring an additional 98,571 shares during the last quarter. Quest Partners LLC increased its stake in Castle Biosciences by 54.4% during 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 last quarter. Thrivent Financial for Lutherans increased its stake in Castle Biosciences by 58.0% during the third quarter. Thrivent Financial for Lutherans now owns 23,290 shares of the company's stock worth $664,000 after acquiring an additional 8,552 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Castle Biosciences during the 3rd quarter valued at approximately $1,478,000. Institutional investors own 92.60% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on CSTL shares. Scotiabank upped their price target on shares of Castle Biosciences from $37.00 to $44.00 and gave the company a "sector outperform" rating in a report on Wednesday, November 6th. Canaccord Genuity Group raised their price objective on Castle Biosciences from $35.00 to $42.00 and gave the stock a "buy" rating in a research report on Tuesday, October 29th. KeyCorp raised their price target on Castle Biosciences from $28.00 to $36.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. BTIG Research boosted their target price on shares of Castle Biosciences from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Finally, Robert W. Baird raised their price target on shares of Castle Biosciences from $37.00 to $39.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, Castle Biosciences presently has a consensus rating of "Buy" and an average target price of $37.88.

Castle Biosciences Stock Performance

CSTL traded down $0.15 during trading on Wednesday, reaching $29.48. 380,423 shares of the company's stock were exchanged, compared to its average volume of 327,393. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64. The company's fifty day simple moving average is $31.27 and its 200-day simple moving average is $27.04. Castle Biosciences, Inc. has a 1 year low of $16.97 and a 1 year high of $35.84. The stock has a market capitalization of $825.65 million, a P/E ratio of 148.15 and a beta of 0.92.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.14. The firm had revenue of $85.78 million during the quarter, compared to analysts' expectations of $78.55 million. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. During the same quarter last year, the company posted ($0.26) earnings per share. As a group, research analysts predict that Castle Biosciences, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity at Castle Biosciences

In other news, CFO Frank Stokes sold 6,923 shares of the business's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $29.93, for a total value of $207,205.39. Following the completion of the sale, the chief financial officer now directly owns 30,823 shares in the company, valued at $922,532.39. The trade was a 18.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Derek J. Maetzold sold 986 shares of the business's stock in a transaction on Friday, October 4th. The stock was sold at an average price of $28.73, for a total transaction of $28,327.78. Following the completion of the sale, the insider now directly owns 94,622 shares of the company's stock, valued at approximately $2,718,490.06. The trade was a 1.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,185 shares of company stock worth $814,495. 7.20% of the stock is owned by corporate insiders.

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.