JPMorgan Chase & Co. Grows Stock Holdings in Castle Biosciences, Inc. (NASDAQ:CSTL)

JPMorgan Chase & Co. lifted its holdings in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 55.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 107,936 shares of the company's stock after acquiring an additional 38,527 shares during the quarter. JPMorgan Chase & Co. owned 0.39% of Castle Biosciences worth $2,876,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CSTL. R Squared Ltd acquired a new stake in Castle Biosciences during the 4th quarter worth about $42,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Castle Biosciences in the fourth quarter worth about $128,000. China Universal Asset Management Co. Ltd. grew its holdings 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 worth $158,000 after acquiring an additional 604 shares during the period. Oak Harvest Investment Services purchased a new position in Castle Biosciences during the fourth quarter valued at approximately $206,000. Finally, Green Alpha Advisors LLC purchased a new position in Castle Biosciences during the fourth quarter valued at approximately $249,000. Hedge funds and other institutional investors own 92.60% of the company's stock.

Insider Activity at Castle Biosciences

In related news, insider Derek J. Maetzold sold 2,130 shares of Castle Biosciences stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $19.52, for a total transaction of $41,577.60. Following the transaction, the insider now owns 78,335 shares in the company, valued at approximately $1,529,099.20. This trade represents a 2.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daniel Bradbury sold 7,867 shares of Castle Biosciences stock in a transaction on Wednesday, February 5th. The stock was 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. In the last three months, insiders have sold 34,085 shares of company stock valued at $748,045. 7.20% of the stock is owned by corporate insiders.

Castle Biosciences Stock Performance

NASDAQ:CSTL opened at $21.98 on Wednesday. The stock has a market capitalization of $634.01 million, a PE ratio of 109.91 and a beta of 1.11. The company has a fifty day moving average of $21.41 and a two-hundred day moving average of $26.75. 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, Inc. has a fifty-two week low of $16.97 and a fifty-two week high of $35.84.

Wall Street Analyst Weigh In

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

About Castle Biosciences

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.

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