ExodusPoint Capital Management LP Decreases Holdings in Castle Biosciences, Inc. (NASDAQ:CSTL)

ExodusPoint Capital Management LP cut its holdings in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 74.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,484 shares of the company's stock after selling 32,779 shares during the period. ExodusPoint Capital Management LP's holdings in Castle Biosciences were worth $306,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Castle Biosciences by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 1,832,535 shares of the company's stock worth $48,837,000 after acquiring an additional 83,783 shares in the last quarter. Principal Financial Group Inc. increased its stake in Castle Biosciences by 2.7% in the third quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company's stock valued at $43,879,000 after purchasing an additional 40,377 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Castle Biosciences during the fourth quarter worth approximately $19,244,000. State Street Corp lifted its position in shares of 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 buying an additional 60,924 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Castle Biosciences by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 628,196 shares of the company's stock valued at $16,746,000 after buying an additional 3,513 shares in the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Castle Biosciences Stock Performance

Castle Biosciences stock traded up $0.25 during mid-day trading on Friday, reaching $21.51. 454,033 shares of the company were exchanged, compared to its average volume of 382,391. The firm's 50-day simple moving average is $21.66 and its two-hundred day simple moving average is $26.86. Castle Biosciences, Inc. has a twelve month low of $16.97 and a twelve month high of $35.84. The firm has a market cap of $620.33 million, a PE ratio of 107.56 and a beta of 1.11. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78.

Insider Transactions at Castle Biosciences

In other news, Director Daniel Bradbury sold 7,867 shares of Castle Biosciences stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $28.17, for a total value of $221,613.39. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Derek J. Maetzold sold 22,639 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $20.12, for a total transaction of $455,496.68. Following the transaction, the insider now directly owns 80,465 shares of the company's stock, valued at $1,618,955.80. This represents a 21.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,085 shares of company stock worth $748,045 over the last 90 days. 7.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CSTL. Robert W. Baird lifted their price target on shares of Castle Biosciences from $36.00 to $37.00 and gave the stock an "outperform" rating in a research note on Friday, February 28th. Stephens reissued an "overweight" rating and issued a $41.00 target price on shares of Castle Biosciences in a report on Thursday, January 2nd. Finally, Guggenheim set a $30.00 price target on Castle Biosciences and gave the stock a "buy" rating in a research note on Friday, March 28th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $38.75.

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.