Denali Advisors LLC Makes New $186,000 Investment in Castle Biosciences, Inc. (NASDAQ:CSTL)

Denali Advisors LLC purchased a new position in Castle Biosciences, Inc. (NASDAQ:CSTL) in the first quarter, HoldingsChannel reports. The firm purchased 8,400 shares of the company’s stock, valued at approximately $186,000.

A number of other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted 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 during the last quarter. Parkman Healthcare Partners LLC boosted its position in shares of Castle Biosciences by 59.0% during the fourth quarter. Parkman Healthcare Partners LLC now owns 357,156 shares of the company’s stock worth $7,707,000 after acquiring an additional 132,564 shares during the last quarter. Birchview Capital LP bought a new position in shares of Castle Biosciences during the fourth quarter worth $216,000. Bellevue Group AG boosted its position in shares of Castle Biosciences by 0.4% during the fourth quarter. Bellevue Group AG now owns 1,232,378 shares of the company’s stock worth $26,595,000 after acquiring an additional 4,347 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC raised its stake in Castle Biosciences by 108.8% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 326,270 shares of the company’s stock valued at $7,041,000 after purchasing an additional 170,000 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Robert W. Baird upped their price target on shares of Castle Biosciences from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd.

Castle Biosciences Trading Down 0.0 %

Shares of CSTL traded down $0.01 during midday trading on Wednesday, hitting $21.25. The stock had a trading volume of 328,977 shares, compared to its average volume of 249,957. Castle Biosciences, Inc. has a 1 year low of $12.07 and a 1 year high of $25.91. The firm has a market cap of $586.71 million, a PE ratio of -18.49 and a beta of 0.93. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.25 and a quick ratio of 9.02. The stock’s 50 day moving average is $22.92 and its 200 day moving average is $22.00.

Castle Biosciences (NASDAQ:CSTL) last announced its earnings results on Thursday, May 2nd. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.28. Castle Biosciences had a negative net margin of 12.28% and a negative return on equity of 7.91%. The business had revenue of $72.97 million for the quarter, compared to the consensus estimate of $68.34 million. As a group, analysts forecast that Castle Biosciences, Inc. will post -1.7 EPS for the current fiscal year.

Insider Buying and Selling

In other Castle Biosciences news, insider Derek J. Maetzold sold 2,368 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $23.40, for a total transaction of $55,411.20. Following the transaction, the insider now directly owns 57,893 shares in the company, valued at approximately $1,354,696.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Derek J. Maetzold sold 1,947 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $20.35, for a total value of $39,621.45. Following the sale, the insider now directly owns 65,418 shares in the company, valued at approximately $1,331,256.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Derek J. Maetzold sold 2,368 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $23.40, for a total transaction of $55,411.20. Following the completion of the sale, the insider now owns 57,893 shares in the company, valued at $1,354,696.20. The disclosure for this sale can be found here. Insiders have sold 41,979 shares of company stock valued at $982,105 in the last 90 days. Company insiders own 7.20% of the company’s stock.

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.