Jackson Creek Investment Advisors LLC Invests $1.14 Million in Castle Biosciences, Inc. (NASDAQ:CSTL)

Jackson Creek Investment Advisors LLC acquired a new position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) in the first quarter, Holdings Channel reports. The institutional investor acquired 57,094 shares of the company’s stock, valued at approximately $1,143,000.

Other hedge funds also recently made changes to their positions in the company. Covestor Ltd bought a new position in shares of Castle Biosciences during the fourth quarter worth about $25,000. CWM LLC lifted its stake in Castle Biosciences by 835.0% in the first quarter. CWM LLC now owns 4,142 shares of the company’s stock valued at $83,000 after buying an additional 3,699 shares during the period. GAMMA Investing LLC lifted its stake in Castle Biosciences by 1,865.8% in the first quarter. GAMMA Investing LLC now owns 4,364 shares of the company’s stock valued at $87,000 after buying an additional 4,142 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Castle Biosciences in the fourth quarter valued at approximately $128,000. Finally, ProShare Advisors LLC acquired a new position in Castle Biosciences in the fourth quarter valued at approximately $230,000. 92.60% of the stock is currently owned by institutional investors.

Insider Transactions at Castle Biosciences

In related news, insider Derek J. Maetzold sold 1,236 shares of the company’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $21.52, for a total transaction of $26,598.72. Following the completion of the sale, the insider owned 74,627 shares in the company, valued at approximately $1,605,973.04. This represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 6.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CSTL. Guggenheim set a $30.00 price target on Castle Biosciences and gave the company a “buy” rating in a research note on Friday, March 28th. Canaccord Genuity Group dropped their price target on Castle Biosciences from $42.00 to $37.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Scotiabank dropped their price target on Castle Biosciences from $44.00 to $40.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, May 21st. Finally, Lake Street Capital dropped their price target on Castle Biosciences from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $37.00.

Castle Biosciences Stock Down 1.5%

Shares of NASDAQ CSTL traded down $0.26 during midday trading on Friday, hitting $17.13. 54,709 shares of the stock traded hands, compared to its average volume of 418,622. The company has a market cap of $494.46 million, a PE ratio of -89.63 and a beta of 1.10. Castle Biosciences, Inc. has a one year low of $15.45 and a one year high of $35.84. The business has a 50 day moving average price of $18.09 and a two-hundred day moving average price of $21.52. The company has a debt-to-equity ratio of 0.02, a quick ratio of 9.19 and a current ratio of 9.37.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.12). Castle Biosciences had a negative net margin of 1.46% and a positive return on equity of 3.41%. The firm had revenue of $87.99 million for the quarter, compared to the consensus estimate of $80.40 million. On average, equities analysts predict that Castle Biosciences, Inc. will post 0.44 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.