Castle Biosciences, Inc. (NASDAQ:CSTL) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS cut its holdings in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 383,974 shares of the company’s stock after selling 23,264 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Castle Biosciences were worth $10,233,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. raised its stake in Castle Biosciences by 828.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 499,192 shares of the company’s stock worth $14,237,000 after acquiring an additional 445,415 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Castle Biosciences by 147.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,458 shares of the company’s stock valued at $4,719,000 after acquiring an additional 98,571 shares during the period. State Street Corp grew its position in shares of Castle Biosciences by 9.8% during the 3rd quarter. State Street Corp now owns 680,001 shares of the company’s stock valued at $19,394,000 after acquiring an additional 60,924 shares during the period. Lisanti Capital Growth LLC grew its position in shares of Castle Biosciences by 60.2% during the 3rd quarter. Lisanti Capital Growth LLC now owns 154,710 shares of the company’s stock valued at $4,412,000 after acquiring an additional 58,160 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in Castle Biosciences in the 3rd quarter valued at about $1,478,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Stephens reissued an “overweight” rating and issued a $41.00 target price on shares of Castle Biosciences in a research note on Thursday, January 2nd. Lake Street Capital lifted their target price 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. KeyCorp boosted their target price on shares of Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Scotiabank boosted their price target 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. Finally, Robert W. Baird boosted their price target on shares of Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $40.29.

Castle Biosciences Stock Performance

NASDAQ:CSTL opened at $26.72 on Wednesday. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. The company has a market cap of $748.43 million, a P/E ratio of 133.61 and a beta of 0.91. Castle Biosciences, Inc. has a fifty-two week low of $16.97 and a fifty-two week high of $35.84. The firm’s 50 day moving average is $27.70 and its two-hundred day moving average is $29.24.

Insiders Place Their Bets

In related news, insider Derek J. Maetzold sold 9,364 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $28.34, for a total transaction of $265,375.76. Following the completion of the sale, the insider now directly owns 84,762 shares of the company’s stock, valued at approximately $2,402,155.08. This trade represents a 9.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel Bradbury sold 7,867 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were 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 have sold a total of 30,771 shares of company stock valued at $886,112 over the last quarter. Company insiders own 7.20% of the company’s stock.

Castle Biosciences Company 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.