Advantage Alpha Capital Partners LP Purchases New Position in Castle Biosciences, Inc. (NASDAQ:CSTL)

Advantage Alpha Capital Partners LP acquired a new stake in Castle Biosciences, Inc. (NASDAQ:CSTL) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,940 shares of the company’s stock, valued at approximately $312,000.

Several other institutional investors have also added to or reduced their stakes in the business. Quest Partners LLC raised its stake in shares of Castle Biosciences by 54.4% in the third quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock worth $123,000 after purchasing an additional 1,522 shares during the last quarter. US Bancorp DE increased its holdings in Castle Biosciences by 1,889.2% in the 3rd quarter. US Bancorp DE now owns 4,615 shares of the company’s stock worth $132,000 after buying an additional 4,383 shares in the last quarter. Assetmark Inc. raised its position in Castle Biosciences by 16.8% in the 3rd quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock worth $149,000 after buying an additional 748 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Castle Biosciences by 64.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock valued at $152,000 after acquiring an additional 2,093 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in shares of Castle Biosciences during the 3rd quarter valued at about $236,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Castle Biosciences Stock Performance

NASDAQ:CSTL opened at $30.57 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78. The stock has a 50-day simple moving average of $30.94 and a two-hundred day simple moving average of $26.58. The firm has a market capitalization of $856.27 million, a PE ratio of 152.86 and a beta of 0.99. Castle Biosciences, Inc. has a 52-week low of $16.97 and a 52-week high of $35.84.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.14. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. The company had revenue of $85.78 million during the quarter, compared to the consensus estimate of $78.55 million. During the same period in the previous year, the company posted ($0.26) EPS. Analysts forecast that Castle Biosciences, Inc. will post -0.08 EPS for the current year.

Insider Transactions at Castle Biosciences

In related news, insider Derek J. Maetzold sold 986 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $28.73, for a total value of $28,327.78. Following the completion of the transaction, the insider now owns 94,622 shares of the company’s stock, valued at approximately $2,718,490.06. This represents a 1.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Tobin W. Juvenal sold 3,507 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $35.56, for a total value of $124,708.92. Following the completion of the sale, the insider now owns 54,178 shares of the company’s stock, valued at $1,926,569.68. The trade was a 6.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,213 shares of company stock valued at $752,673 over the last three months. Corporate insiders own 7.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Lake Street Capital increased their price objective on shares of Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Scotiabank increased their price target on Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a report on Wednesday, November 6th. Robert W. Baird lifted their price objective on Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. KeyCorp upped their price objective on Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, BTIG Research raised their target price on Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, Castle Biosciences currently has a consensus rating of “Buy” and an average target price of $37.88.

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.