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

JPMorgan Chase & Co. increased its holdings in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 165.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 69,409 shares of the company's stock after purchasing an additional 43,241 shares during the period. JPMorgan Chase & Co. owned 0.25% of Castle Biosciences worth $1,980,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Algert Global LLC boosted its position in Castle Biosciences by 0.4% in the 3rd quarter. Algert Global LLC now owns 134,321 shares of the company's stock worth $3,831,000 after purchasing an additional 599 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Castle Biosciences by 7.1% during the second quarter. The Manufacturers Life Insurance Company now owns 10,122 shares of the company's stock worth $220,000 after buying an additional 675 shares in the last quarter. Assetmark Inc. boosted its holdings in Castle Biosciences by 16.8% during the third quarter. Assetmark Inc. now owns 5,212 shares of the company's stock worth $149,000 after buying an additional 748 shares in the last quarter. Y Intercept Hong Kong Ltd grew its position in Castle Biosciences by 3.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 24,206 shares of the company's stock valued at $690,000 after buying an additional 845 shares during the period. Finally, Quest Partners LLC increased its holdings in Castle Biosciences by 54.4% in the third quarter. Quest Partners LLC now owns 4,318 shares of the company's stock valued at $123,000 after buying an additional 1,522 shares in the last quarter. 92.60% of the stock is owned by institutional investors.

Castle Biosciences Price Performance

Shares of CSTL traded down $0.12 during trading hours on Thursday, hitting $26.50. 221,231 shares of the stock were exchanged, compared to its average volume of 558,953. The stock's 50-day moving average price is $28.66 and its two-hundred day moving average price is $28.18. Castle Biosciences, Inc. has a 12-month low of $16.97 and a 12-month high of $35.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78. The company has a market cap of $742.27 million, a price-to-earnings ratio of 132.51 and a beta of 0.92.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.14. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. The business had revenue of $85.78 million during the quarter, compared to analyst estimates of $78.55 million. During the same period in the prior year, the business earned ($0.26) earnings per share. Research analysts expect that Castle Biosciences, Inc. will post 0.38 earnings per share for the current year.

Insider Activity

In other Castle Biosciences news, insider Tobin W. Juvenal sold 3,507 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $35.56, for a total transaction of $124,708.92. Following the completion of the transaction, the insider now owns 54,178 shares of the company's stock, valued at $1,926,569.68. This trade represents a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Derek J. Maetzold sold 986 shares of the business's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $28.03, for a total transaction of $27,637.58. Following the completion of the sale, the insider now directly owns 80,818 shares in the company, valued at $2,265,328.54. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,306 shares of company stock valued at $1,063,756 in the last 90 days. Company insiders own 7.20% of the company's stock.

Analyst Ratings Changes

CSTL has been the topic of several recent analyst reports. KeyCorp increased their target price on shares of Castle Biosciences from $28.00 to $36.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Stephens reissued an "overweight" rating and issued a $41.00 price objective on shares of Castle Biosciences in a report on Thursday, January 2nd. Scotiabank boosted their price objective on Castle Biosciences from $37.00 to $44.00 and gave the company a "sector outperform" rating in a research report on Wednesday, November 6th. BTIG Research increased their target price on Castle Biosciences from $35.00 to $40.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Finally, Robert W. Baird boosted 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. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $40.29.

Castle Biosciences Company 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.