Castle Biosciences, Inc. (NASDAQ:CSTL) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 10.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,459 shares of the company’s stock after purchasing an additional 7,881 shares during the period. Bank of New York Mellon Corp owned approximately 0.30% of Castle Biosciences worth $2,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd acquired a new position in Castle Biosciences during the fourth quarter worth about $42,000. Quest Partners LLC raised its stake in shares of Castle Biosciences by 54.4% in the 3rd quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock valued at $123,000 after acquiring an additional 1,522 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Castle Biosciences in the 3rd quarter valued at approximately $140,000. China Universal Asset Management Co. Ltd. increased its stake in Castle Biosciences by 11.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,939 shares of the company’s stock worth $158,000 after buying an additional 604 shares during the period. Finally, Oak Harvest Investment Services purchased a new stake in Castle Biosciences during the 4th quarter worth approximately $206,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Robert W. Baird increased their price objective on shares of Castle Biosciences from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Stephens reiterated an “overweight” rating and set a $41.00 price target on shares of Castle Biosciences in a research note on Thursday, January 2nd. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Castle Biosciences presently has an average rating of “Buy” and an average target price of $40.00.

Insider Transactions at Castle Biosciences

In other Castle Biosciences news, insider Derek J. Maetzold sold 986 shares of Castle Biosciences stock in a transaction on Monday, January 13th. The stock was sold at an average price of $28.03, for a total transaction of $27,637.58. Following the completion of the transaction, the insider now directly owns 80,818 shares of the company’s stock, valued at approximately $2,265,328.54. This trade represents a 1.21 % 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 this link. Also, Director Daniel Bradbury sold 7,867 shares of Castle Biosciences stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $28.17, for a total value of $221,613.39. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,204 shares of company stock worth $1,055,988. Insiders own 7.20% of the company’s stock.

Castle Biosciences Price Performance

CSTL stock opened at $20.52 on Friday. The firm has a 50-day moving average of $24.69 and a two-hundred day moving average of $28.32. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $574.70 million, a PE ratio of 102.61 and a beta of 0.98. Castle Biosciences, Inc. has a one year low of $16.97 and a one year high of $35.84.

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.