Orion Portfolio Solutions LLC Raises Position in Castle Biosciences, Inc. (NASDAQ:CSTL)

Orion Portfolio Solutions LLC increased its holdings in Castle Biosciences, Inc. (NASDAQ:CSTL) by 16.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 72,405 shares of the company’s stock after buying an additional 10,324 shares during the period. Orion Portfolio Solutions LLC’s holdings in Castle Biosciences were worth $2,065,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of CSTL. Point72 Asset Management L.P. lifted its position in Castle Biosciences by 828.3% during the third quarter. Point72 Asset Management L.P. now owns 499,192 shares of the company’s stock worth $14,237,000 after buying an additional 445,415 shares in the last quarter. Marshall Wace LLP increased its stake in Castle Biosciences by 116.5% in the second quarter. Marshall Wace LLP now owns 212,036 shares of the company’s stock valued at $4,616,000 after purchasing an additional 114,104 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Castle Biosciences by 147.4% in 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 buying an additional 98,571 shares during the last quarter. Renaissance Technologies LLC increased its position in Castle Biosciences by 47.3% during the 2nd quarter. Renaissance Technologies LLC now owns 301,500 shares of the company’s stock worth $6,564,000 after purchasing an additional 96,800 shares during the period. Finally, Lisanti Capital Growth LLC purchased a new position in Castle Biosciences in the second quarter worth $2,102,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Insider Buying and Selling

In other news, insider Tobin W. Juvenal sold 3,507 shares of Castle Biosciences stock in a transaction dated Tuesday, November 5th. The stock was 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 directly owns 54,178 shares in the company, valued at $1,926,569.68. The trade was a 6.08 % 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 company’s stock in a transaction on 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 sale, the insider now owns 94,622 shares of the company’s stock, valued at $2,718,490.06. This represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,185 shares of company stock worth $814,495 in the last three months. 7.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Castle Biosciences Price Performance

NASDAQ CSTL opened at $29.12 on Friday. The firm has a market capitalization of $815.56 million, a PE ratio of 145.60 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 12 month low of $16.97 and a 12 month high of $35.84. The company’s 50 day simple moving average is $31.30 and its 200 day simple moving average is $27.07.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.14. The firm had revenue of $85.78 million for the quarter, compared to analyst estimates 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 in the previous year, the business posted ($0.26) earnings per share. As a group, equities research analysts forecast that Castle Biosciences, Inc. will post 0.34 EPS for the current fiscal 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.