Kornitzer Capital Management Inc. KS Has $10.23 Million Position in Castle Biosciences, Inc. (NASDAQ:CSTL)

Kornitzer Capital Management Inc. KS reduced its position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 383,974 shares of the company's stock after selling 23,264 shares during the period. Kornitzer Capital Management Inc. KS owned about 1.37% of Castle Biosciences worth $10,233,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CSTL. Algert Global LLC raised its stake in shares of Castle Biosciences by 0.4% in the 3rd quarter. Algert Global LLC now owns 134,321 shares of the company's stock valued at $3,831,000 after purchasing an additional 599 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake 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 last quarter. Assetmark Inc. lifted its position in shares of Castle Biosciences by 16.8% in the 3rd quarter. Assetmark Inc. now owns 5,212 shares of the company's stock worth $149,000 after buying an additional 748 shares during the last quarter. Y Intercept Hong Kong Ltd grew its position in shares of Castle Biosciences by 3.6% during the 3rd 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 last quarter. Finally, Truist Financial Corp grew its holdings in shares of Castle Biosciences by 4.6% during the fourth quarter. Truist Financial Corp now owns 21,303 shares of the company's stock valued at $568,000 after purchasing an additional 928 shares during the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CSTL shares. Scotiabank raised their price target on shares of Castle Biosciences from $37.00 to $44.00 and gave the company a "sector outperform" rating in a research note on Wednesday, November 6th. Canaccord Genuity Group lifted their target price on Castle Biosciences from $35.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday, October 29th. Robert W. Baird boosted their price target on Castle Biosciences from $37.00 to $39.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. KeyCorp raised their price target on Castle Biosciences from $28.00 to $36.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Finally, Stephens reissued an "overweight" rating and set a $41.00 target price on shares of Castle Biosciences in a research note on Thursday, January 2nd. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $40.29.

Insiders Place Their Bets

In related news, Director Daniel Bradbury sold 7,867 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $28.17, for a total value of $221,613.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Derek J. Maetzold sold 1,972 shares of the business's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $31.35, for a total transaction of $61,822.20. Following the sale, the insider now directly owns 85,748 shares in the company, valued at approximately $2,688,199.80. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,771 shares of company stock worth $886,112. 7.20% of the stock is owned by insiders.

Castle Biosciences Price Performance

Shares of NASDAQ:CSTL traded down $0.40 during trading hours on Friday, hitting $25.75. 294,905 shares of the company's stock traded hands, compared to its average volume of 344,013. 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's fifty day simple moving average is $27.53 and its two-hundred day simple moving average is $29.23. Castle Biosciences, Inc. has a 52 week low of $16.97 and a 52 week high of $35.84. The company has a market cap of $721.26 million, a price-to-earnings ratio of 128.76 and a beta of 0.91.

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.