The Manufacturers Life Insurance Company Acquires 675 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

The Manufacturers Life Insurance Company grew its holdings in Castle Biosciences, Inc. (NASDAQ:CSTL) by 7.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,122 shares of the company’s stock after purchasing an additional 675 shares during the period. The Manufacturers Life Insurance Company’s holdings in Castle Biosciences were worth $220,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its position in shares of Castle Biosciences by 89.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,862 shares of the company’s stock worth $241,000 after acquiring an additional 5,123 shares in the last quarter. Denali Advisors LLC bought a new stake in shares of Castle Biosciences during the 1st quarter valued at $186,000. Norden Group LLC purchased a new stake in Castle Biosciences during the 1st quarter worth about $547,000. Diversify Advisory Services LLC bought a new position in Castle Biosciences in the 1st quarter worth about $278,000. Finally, RiverPark Advisors LLC grew its holdings in Castle Biosciences by 362.2% during the 1st quarter. RiverPark Advisors LLC now owns 2,861 shares of the company’s stock valued at $63,000 after buying an additional 2,242 shares in the last quarter. 92.60% of the stock is owned by institutional investors.

Castle Biosciences Stock Down 1.3 %

Shares of NASDAQ CSTL opened at $32.64 on Friday. The company has a current ratio of 8.12, a quick ratio of 7.92 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average of $29.52 and a 200-day moving average of $24.57. The firm has a market capitalization of $901.09 million, a price-to-earnings ratio of -28.38 and a beta of 1.03. Castle Biosciences, Inc. has a 12 month low of $12.23 and a 12 month high of $34.50.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results on Monday, August 5th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.47. The business had revenue of $87.00 million during the quarter, compared to analysts’ expectations of $69.95 million. Castle Biosciences had a negative net margin of 1.08% and a negative return on equity of 0.77%. During the same quarter in the previous year, the company earned ($0.70) EPS. Sell-side analysts expect that Castle Biosciences, Inc. will post -0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Castle Biosciences news, COO Kristen M. Oelschlager sold 2,793 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $22.06, for a total transaction of $61,613.58. Following the sale, the chief operating officer now owns 145,825 shares in the company, valued at $3,216,899.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, COO Kristen M. Oelschlager sold 12,989 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $23.06, for a total value of $299,526.34. Following the completion of the sale, the chief operating officer now directly owns 132,836 shares in the company, valued at approximately $3,063,198.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Kristen M. Oelschlager sold 2,793 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $22.06, for a total transaction of $61,613.58. Following the transaction, the chief operating officer now directly owns 145,825 shares in the company, valued at approximately $3,216,899.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,476 shares of company stock worth $1,181,637. Corporate insiders own 7.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CSTL. BTIG Research upped their price target on Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Robert W. Baird increased their target price on shares of Castle Biosciences from $34.00 to $37.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Finally, Stephens reissued an “overweight” rating and issued a $37.00 price target on shares of Castle Biosciences in a report on Tuesday, August 6th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $34.00.

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.