Castle Biosciences, Inc. (NASDAQ:CSTL) Shares Bought by State Street Corp

State Street Corp grew its stake in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 9.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 680,001 shares of the company's stock after buying an additional 60,924 shares during the period. State Street Corp owned 2.43% of Castle Biosciences worth $19,394,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Algert Global LLC increased its holdings in shares of Castle Biosciences by 0.4% in the third 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 during the period. The Manufacturers Life Insurance Company lifted its stake in Castle Biosciences by 7.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,122 shares of the company's stock valued at $220,000 after acquiring an additional 675 shares during the period. Assetmark Inc. boosted its holdings in shares of Castle Biosciences by 16.8% in the 3rd quarter. Assetmark Inc. now owns 5,212 shares of the company's stock valued at $149,000 after acquiring an additional 748 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Castle Biosciences by 10.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company's stock worth $215,000 after acquiring an additional 952 shares during the period. Finally, Quest Partners LLC raised its holdings in shares of Castle Biosciences by 54.4% during the third quarter. Quest Partners LLC now owns 4,318 shares of the company's stock worth $123,000 after purchasing an additional 1,522 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Castle Biosciences

In other news, insider Derek J. Maetzold sold 9,364 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $28.34, for a total value of $265,375.76. Following the sale, the insider now directly owns 84,762 shares in the company, valued at approximately $2,402,155.08. This trade represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel Bradbury sold 7,867 shares of Castle Biosciences stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $29.44, for a total value of $231,604.48. Following the completion of the transaction, the director now owns 5,700 shares of the company's stock, valued at $167,808. The trade was a 57.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,549 shares of company stock worth $1,079,871. 7.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on CSTL. Canaccord Genuity Group upped their price target on shares of Castle Biosciences from $35.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, October 29th. Scotiabank raised their target price 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. Lake Street Capital upped their price objective on shares of Castle Biosciences from $34.00 to $40.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. BTIG Research increased their price objective on Castle Biosciences from $35.00 to $40.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Finally, Robert W. Baird increased their price target on Castle Biosciences from $37.00 to $39.00 and gave the company an "outperform" rating in a report on Tuesday, November 5th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $39.71.

Castle Biosciences Trading Up 0.9 %

NASDAQ CSTL traded up $0.24 during trading hours on Tuesday, reaching $27.72. The company had a trading volume of 137,429 shares, compared to its average volume of 325,543. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $776.35 million, a P/E ratio of 138.61 and a beta of 0.92. The stock has a 50-day moving average of $30.96 and a 200 day moving average of $27.31. Castle Biosciences, Inc. has a 1-year low of $16.97 and a 1-year high of $35.84.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.14. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The firm had revenue of $85.78 million during the quarter, compared to analysts' expectations of $78.55 million. During the same quarter last year, the company posted ($0.26) EPS. As a group, research analysts anticipate that Castle Biosciences, Inc. will post 0.34 earnings per share for the current fiscal year.

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.