Renaissance Technologies LLC Acquires 195,438 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

Renaissance Technologies LLC boosted its position in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 39.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 685,000 shares of the company's stock after acquiring an additional 195,438 shares during the quarter. Renaissance Technologies LLC owned 2.45% of Castle Biosciences worth $18,255,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC acquired a new stake in Castle Biosciences in the third quarter valued at $261,000. State Street Corp boosted its stake in 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 purchasing an additional 60,924 shares during the period. Barclays PLC increased its stake in Castle Biosciences by 310.7% in the third quarter. Barclays PLC now owns 52,301 shares of the company's stock valued at $1,491,000 after purchasing an additional 39,567 shares during the period. Geode Capital Management LLC boosted its stake in shares of Castle Biosciences by 1.1% during the third quarter. Geode Capital Management LLC now owns 624,683 shares of the company's stock worth $17,820,000 after buying an additional 7,004 shares during the period. Finally, Franklin Resources Inc. raised its stake in Castle Biosciences by 87.3% during the 3rd quarter. Franklin Resources Inc. now owns 69,382 shares of the company's stock valued at $1,979,000 after acquiring an additional 32,344 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company's stock.

Insider Buying and Selling at Castle Biosciences

In related news, insider Derek J. Maetzold sold 1,236 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $20.30, for a total value of $25,090.80. Following the completion of the transaction, the insider now owns 77,099 shares of the company's stock, valued at approximately $1,565,109.70. This trade represents a 1.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel Bradbury sold 7,867 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $28.17, for a total transaction of $221,613.39. The disclosure for this sale can be found here. Insiders sold 34,085 shares of company stock valued at $748,045 in the last ninety days. Company insiders own 7.20% of the company's stock.

Castle Biosciences Stock Performance

Shares of NASDAQ CSTL traded up $0.25 during midday trading on Friday, hitting $21.51. The company's stock had a trading volume of 454,033 shares, compared to its average volume of 381,424. 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 firm's fifty day moving average price is $21.79 and its 200-day moving average price is $26.90. Castle Biosciences, Inc. has a 1-year low of $16.97 and a 1-year high of $35.84. The firm has a market cap of $620.33 million, a P/E ratio of 107.56 and a beta of 1.11.

Analysts Set New Price Targets

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