Tritonpoint Wealth LLC decreased its holdings in Castle Biosciences, Inc. (NASDAQ:CSTL – Free Report) by 10.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,637 shares of the company’s stock after selling 5,000 shares during the quarter. Tritonpoint Wealth LLC owned 0.14% of Castle Biosciences worth $834,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of CSTL. Wellington Management Group LLP bought a new position in Castle Biosciences in the fourth quarter valued at approximately $19,244,000. Millennium Management LLC raised its position in Castle Biosciences by 290.5% during the fourth quarter. Millennium Management LLC now owns 548,809 shares of the company’s stock valued at $14,626,000 after purchasing an additional 408,272 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Castle Biosciences during the fourth quarter valued at approximately $6,639,000. Captrust Financial Advisors raised its position in Castle Biosciences by 2,567.5% during the fourth quarter. Captrust Financial Advisors now owns 215,322 shares of the company’s stock valued at $5,738,000 after purchasing an additional 207,250 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Castle Biosciences by 100.0% during the fourth quarter. Bank of America Corp DE now owns 403,553 shares of the company’s stock valued at $10,755,000 after purchasing an additional 201,806 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.
Castle Biosciences Stock Performance
NASDAQ CSTL opened at $18.75 on Friday. The firm’s fifty day moving average price is $18.31 and its two-hundred day moving average price is $23.07. The stock has a market cap of $541.35 million, a PE ratio of 93.75 and a beta of 1.03. Castle Biosciences, Inc. has a fifty-two week low of $15.45 and a fifty-two week 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.
Insider Buying and Selling
In related news, insider Derek J. Maetzold sold 1,236 shares of the business’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $21.52, for a total value of $26,598.72. Following the sale, the insider now owns 74,627 shares of the company’s stock, valued at $1,605,973.04. The trade was a 1.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 2,685 shares of company stock valued at $55,956 over the last 90 days. 6.50% of the stock is owned by insiders.
Analysts Set New Price Targets
Several research analysts have commented on CSTL shares. Lake Street Capital lowered their price objective on shares of Castle Biosciences from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Guggenheim set a $30.00 price objective on shares of Castle Biosciences and gave the company a “buy” rating in a research report on Friday, March 28th. Canaccord Genuity Group lowered their price objective on shares of Castle Biosciences from $42.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Scotiabank lowered their price objective on shares of Castle Biosciences from $44.00 to $40.00 and set a “sector outperform” rating for the company in a research report on Wednesday, May 21st. Finally, Robert W. Baird boosted their target price on shares of Castle Biosciences from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Eight 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 an average target price of $37.00.
Read Our Latest Research Report on CSTL
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.
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