Tritonpoint Wealth LLC Cuts Stake in Castle Biosciences, Inc. (NASDAQ:CSTL)

Tritonpoint Wealth LLC reduced its holdings in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 17.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,637 shares of the company's stock after selling 10,000 shares during the quarter. Tritonpoint Wealth LLC owned 0.17% of Castle Biosciences worth $1,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in shares of Castle Biosciences during the fourth quarter worth approximately $42,000. 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. US Bancorp DE raised its stake in Castle Biosciences by 1,889.2% in the 3rd quarter. US Bancorp DE now owns 4,615 shares of the company's stock valued at $132,000 after purchasing an additional 4,383 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Castle Biosciences during the 3rd quarter valued at $140,000. Finally, Assetmark Inc. boosted its position in shares of Castle Biosciences by 16.8% in the third quarter. Assetmark Inc. now owns 5,212 shares of the company's stock worth $149,000 after buying an additional 748 shares during the period. Institutional investors own 92.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CSTL shares. Stephens restated an "overweight" rating and issued a $41.00 target price on shares of Castle Biosciences in a report on Thursday, January 2nd. Lake Street Capital upped their price target on shares of Castle Biosciences from $34.00 to $40.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Scotiabank boosted their target price on shares of Castle Biosciences from $37.00 to $44.00 and gave the company a "sector outperform" rating in a research report on Wednesday, November 6th. Canaccord Genuity Group lifted their price target on shares of Castle Biosciences from $35.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, October 29th. Finally, KeyCorp increased their price target on shares of Castle Biosciences from $28.00 to $36.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $40.29.

Insider Transactions at Castle Biosciences

In other news, CFO Frank Stokes sold 6,923 shares of the business's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $29.93, for a total value of $207,205.39. Following the sale, the chief financial officer now directly owns 30,823 shares of the company's stock, valued at approximately $922,532.39. The trade was a 18.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Derek J. Maetzold sold 986 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $28.03, for a total transaction of $27,637.58. Following the transaction, the insider now directly owns 80,818 shares of the company's stock, valued at $2,265,328.54. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,799 shares of company stock valued at $939,047 over the last 90 days. 7.20% of the stock is currently owned by corporate insiders.

Castle Biosciences Stock Performance

Shares of NASDAQ:CSTL traded up $0.02 during mid-day trading on Wednesday, reaching $28.17. 296,565 shares of the company traded hands, compared to its average volume of 466,264. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64. The firm has a market cap of $788.90 million, a PE ratio of 140.83 and a beta of 0.91. Castle Biosciences, Inc. has a 52 week low of $16.97 and a 52 week high of $35.84. The company's 50 day moving average price is $28.36 and its 200-day moving average price is $28.81.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.14. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. The firm had revenue of $85.78 million for the quarter, compared to the consensus estimate of $78.55 million. During the same period in the previous year, the business earned ($0.26) EPS. On average, equities analysts expect that Castle Biosciences, Inc. will post 0.38 EPS for the current fiscal year.

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.