Braidwell LP Has $9.47 Million Stake in Castle Biosciences, Inc. (NASDAQ:CSTL)

by · The Cerbat Gem

Braidwell LP reduced its stake in Castle Biosciences, Inc. (NASDAQ:CSTL – Free Report) by 20.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 331,986 shares of the company’s stock after selling 84,114 shares during the period. Braidwell LP’s holdings in Castle Biosciences were worth $9,468,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Castle Biosciences by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 1,494,176 shares of the company’s stock valued at $33,096,000 after acquiring an additional 32,695 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Castle Biosciences by 147.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,458 shares of the company’s stock worth $4,719,000 after purchasing an additional 98,571 shares during the period. Harbor Capital Advisors Inc. grew its stake in Castle Biosciences by 249.3% during the second quarter. Harbor Capital Advisors Inc. now owns 138,707 shares of the company’s stock worth $3,020,000 after buying an additional 99,001 shares in the last quarter. Lisanti Capital Growth LLC increased its holdings in Castle Biosciences by 60.2% in the 3rd quarter. Lisanti Capital Growth LLC now owns 154,710 shares of the company’s stock valued at $4,412,000 after buying an additional 58,160 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in shares of Castle Biosciences in the 3rd quarter valued at approximately $1,478,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Wall Street Analysts Forecast Growth

CSTL has been the topic of several analyst reports. Robert W. Baird increased their price target on shares of Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. BTIG Research raised their target price on Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a report on Monday, October 14th. Canaccord Genuity Group lifted their price target on Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Stephens restated an “overweight” rating and set a $37.00 price objective on shares of Castle Biosciences in a research report on Tuesday, August 6th. Finally, Lake Street Capital lifted their target price on Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Castle Biosciences has an average rating of “Buy” and an average price target of $37.88.

Check Out Our Latest Report on Castle Biosciences

Castle Biosciences Price Performance

Shares of CSTL opened at $30.44 on Friday. 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 stock has a market cap of $852.62 million, a PE ratio of 152.21 and a beta of 0.99. Castle Biosciences, Inc. has a 12-month low of $16.97 and a 12-month high of $35.84. The business has a 50-day simple moving average of $30.94 and a two-hundred day simple moving average of $26.63.

Castle Biosciences (NASDAQ:CSTL – Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating 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 company had revenue of $85.78 million during the quarter, compared to the consensus estimate of $78.55 million. During the same quarter in the prior year, the firm posted ($0.26) earnings per share. Analysts anticipate that Castle Biosciences, Inc. will post -0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Castle Biosciences

In other Castle Biosciences news, Director Daniel Bradbury sold 7,867 shares of Castle Biosciences stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $29.44, for a total transaction of $231,604.48. Following the transaction, the director now directly owns 5,700 shares of the company’s stock, valued at approximately $167,808. The trade was a 57.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Derek J. Maetzold sold 986 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $28.73, for a total value of $28,327.78. Following the completion of the sale, the insider now directly 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,213 shares of company stock worth $752,673. 7.20% of the stock is currently owned by company insiders.

Castle Biosciences Profile

(Free Report)

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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