Bailard Inc. Acquires 1,100 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

Bailard Inc. increased its holdings in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 12.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,900 shares of the company’s stock after purchasing an additional 1,100 shares during the period. Bailard Inc.’s holdings in Castle Biosciences were worth $264,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CSTL. Algert Global LLC lifted its holdings in Castle Biosciences by 0.4% during the third quarter. Algert Global LLC now owns 134,321 shares of the company’s stock worth $3,831,000 after buying an additional 599 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in shares of Castle Biosciences by 11.3% during the 4th 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 last quarter. Assetmark Inc. boosted its position in Castle Biosciences by 16.8% during the third quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock valued at $149,000 after purchasing an additional 748 shares in the last quarter. Y Intercept Hong Kong Ltd grew its stake in Castle Biosciences by 3.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 24,206 shares of the company’s stock valued at $690,000 after purchasing an additional 845 shares during the last quarter. Finally, Truist Financial Corp grew its stake in Castle Biosciences by 4.6% in the fourth quarter. Truist Financial Corp now owns 21,303 shares of the company’s stock valued at $568,000 after purchasing an additional 928 shares during the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CSTL. Robert W. Baird raised their price target on shares of Castle Biosciences from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Stephens reissued an “overweight” rating and set a $41.00 target price on shares of Castle Biosciences in a research report on Thursday, January 2nd. Finally, Scotiabank lifted their price target on shares of Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a report on Wednesday, November 6th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Castle Biosciences currently has a consensus rating of “Buy” and an average target price of $40.00.

Insider Buying and Selling

In related news, Director Daniel Bradbury sold 7,867 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $28.17, for a total value of $221,613.39. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Derek J. Maetzold sold 986 shares of the firm’s 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. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,799 shares of company stock worth $824,289 in the last 90 days. Insiders own 7.20% of the company’s stock.

Castle Biosciences Trading Down 4.1 %

NASDAQ CSTL opened at $21.32 on Thursday. The stock has a market cap of $597.11 million, a P/E ratio of 106.61 and a beta of 0.98. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a 12-month low of $16.97 and a 12-month high of $35.84. The company has a fifty day simple moving average of $26.87 and a two-hundred day simple moving average of $29.05.

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.