Castle Biosciences, Inc. (NASDAQ:CSTL) Shares Purchased by Portolan Capital Management LLC

Portolan Capital Management LLC grew its stake in Castle Biosciences, Inc. (NASDAQ:CSTL) by 3.7% during the third quarter, HoldingsChannel.com reports. The firm owned 1,255,628 shares of the company’s stock after buying an additional 44,676 shares during the period. Castle Biosciences makes up about 2.6% of Portolan Capital Management LLC’s holdings, making the stock its 6th biggest holding. Portolan Capital Management LLC’s holdings in Castle Biosciences were worth $35,811,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Parkman Healthcare Partners LLC raised its holdings in Castle Biosciences by 6.5% in the third quarter. Parkman Healthcare Partners LLC now owns 296,071 shares of the company’s stock worth $8,444,000 after purchasing an additional 18,176 shares during the period. Janus Henderson Group PLC acquired a new stake in Castle Biosciences during the 3rd quarter worth $261,000. Bellevue Group AG lifted its holdings in Castle Biosciences by 3.7% during the third quarter. Bellevue Group AG now owns 1,262,030 shares of the company’s stock worth $35,993,000 after acquiring an additional 44,929 shares in the last quarter. Townsquare Capital LLC grew its stake in Castle Biosciences by 25.2% in the third quarter. Townsquare Capital LLC now owns 23,270 shares of the company’s stock valued at $664,000 after acquiring an additional 4,688 shares during the period. Finally, Advantage Alpha Capital Partners LP bought a new stake in shares of Castle Biosciences in the third quarter worth about $312,000. 92.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Castle Biosciences news, insider Derek J. Maetzold sold 986 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $28.73, for a total transaction of $28,327.78. Following the completion of the transaction, the insider now owns 94,622 shares of the company’s stock, valued at approximately $2,718,490.06. The trade was a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tobin W. Juvenal sold 3,507 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $35.56, for a total transaction of $124,708.92. Following the completion of the sale, the insider now owns 54,178 shares in the company, valued at approximately $1,926,569.68. The trade was a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,213 shares of company stock worth $752,673 in the last quarter. Corporate insiders own 7.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Lake Street Capital increased their target price on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group upped their target price on shares of Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. KeyCorp lifted their price target on Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. BTIG Research upped their price objective on Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Scotiabank lifted 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. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $37.88.

Castle Biosciences Stock Performance

Shares of CSTL stock opened at $30.78 on Wednesday. The company has a fifty day moving average price of $30.98 and a two-hundred day moving average price of $26.81. The stock has a market cap of $862.15 million, a P/E ratio of 153.91 and a beta of 0.92. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64. Castle Biosciences, Inc. has a one year low of $16.97 and a one year high of $35.84.

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

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.