Inspire Investing LLC Invests $809,000 in Castle Biosciences, Inc. (NASDAQ:CSTL)

Inspire Investing LLC acquired a new position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 37,167 shares of the company’s stock, valued at approximately $809,000. Inspire Investing LLC owned about 0.13% of Castle Biosciences as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. RiverPark Advisors LLC increased its stake in Castle Biosciences by 362.2% during the first quarter. RiverPark Advisors LLC now owns 2,861 shares of the company’s stock worth $63,000 after acquiring an additional 2,242 shares during the last quarter. Assetmark Inc. increased its position in Castle Biosciences by 21.3% during the 4th quarter. Assetmark Inc. now owns 4,736 shares of the company’s stock worth $102,000 after purchasing an additional 832 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Castle Biosciences by 70.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 5,297 shares of the company’s stock valued at $117,000 after buying an additional 2,187 shares during the period. Denali Advisors LLC acquired a new position in Castle Biosciences during the first quarter valued at approximately $186,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Castle Biosciences by 10.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock worth $215,000 after buying an additional 952 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Castle Biosciences

In other news, COO Kristen M. Oelschlager sold 2,793 shares of Castle Biosciences stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $22.06, for a total value of $61,613.58. Following the completion of the transaction, the chief operating officer now owns 145,825 shares in the company, valued at approximately $3,216,899.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Castle Biosciences news, COO Kristen M. Oelschlager sold 12,989 shares of Castle Biosciences stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $23.06, for a total value of $299,526.34. Following the completion of the transaction, the chief operating officer now directly owns 132,836 shares in the company, valued at $3,063,198.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Kristen M. Oelschlager sold 2,793 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $22.06, for a total value of $61,613.58. Following the transaction, the chief operating officer now directly owns 145,825 shares of the company’s stock, valued at $3,216,899.50. The disclosure for this sale can be found here. Insiders have sold 33,665 shares of company stock worth $828,222 over the last quarter. 7.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on CSTL shares. Stephens reiterated an “overweight” rating and issued a $37.00 price target on shares of Castle Biosciences in a report on Tuesday, August 6th. Robert W. Baird upped their target price on Castle Biosciences from $34.00 to $37.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Castle Biosciences has a consensus rating of “Buy” and an average target price of $32.80.

Castle Biosciences Stock Up 3.1 %

CSTL stock opened at $31.47 on Friday. The company has a market capitalization of $868.79 million, a P/E ratio of -27.37 and a beta of 1.02. The firm has a 50 day simple moving average of $26.30 and a 200-day simple moving average of $23.26. The company has a current ratio of 8.12, a quick ratio of 7.92 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a twelve month low of $12.07 and a twelve month high of $32.53.

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

Castle Biosciences 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.