Natixis Makes New Investment in Castle Biosciences, Inc. (NASDAQ:CSTL)

Natixis acquired a new stake in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 19,600 shares of the company's stock, valued at approximately $522,000. Natixis owned approximately 0.07% of Castle Biosciences at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CSTL. China Universal Asset Management Co. Ltd. increased its position in Castle Biosciences by 11.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,939 shares of the company's stock worth $158,000 after purchasing an additional 604 shares during the period. Invesco Ltd. boosted its stake in shares of Castle Biosciences by 2.3% in the 4th quarter. Invesco Ltd. now owns 27,534 shares of the company's stock valued at $734,000 after purchasing an additional 616 shares during the last quarter. Truist Financial Corp grew its position in shares of Castle Biosciences by 4.6% during the 4th quarter. Truist Financial Corp now owns 21,303 shares of the company's stock worth $568,000 after buying an additional 928 shares during the period. Covestor Ltd acquired a new position in Castle Biosciences in the fourth quarter valued at approximately $25,000. Finally, Bailard Inc. lifted its holdings in Castle Biosciences by 12.5% in the fourth quarter. Bailard Inc. now owns 9,900 shares of the company's stock valued at $264,000 after buying an additional 1,100 shares during the period. 92.60% of the stock is owned by institutional investors.

Insider Activity at Castle Biosciences

In other Castle Biosciences news, Director Daniel Bradbury sold 7,867 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $28.17, for a total transaction of $221,613.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Derek J. Maetzold sold 2,130 shares of Castle Biosciences stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $19.52, for a total value of $41,577.60. Following the completion of the sale, the insider now directly owns 78,335 shares in the company, valued at $1,529,099.20. This represents a 2.65 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 35,321 shares of company stock worth $774,644. 7.20% of the stock is owned by company insiders.

Castle Biosciences Trading Down 1.4 %

CSTL stock traded down $0.30 during midday trading on Friday, hitting $20.63. 298,200 shares of the company's stock were exchanged, compared to its average volume of 389,881. Castle Biosciences, Inc. has a one year low of $16.97 and a one year 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 $595.07 million, a PE ratio of 103.16 and a beta of 1.11. The stock's fifty day moving average price is $21.04 and its 200-day moving average price is $26.57.

Analysts Set New Price Targets

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