Point72 DIFC Ltd Buys New Position in Castle Biosciences, Inc. (NASDAQ:CSTL)

Point72 DIFC Ltd bought a new position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,895 shares of the company’s stock, valued at approximately $140,000.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in shares of Castle Biosciences by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company’s stock valued at $43,879,000 after acquiring an additional 40,377 shares in the last quarter. Bellevue Group AG grew its holdings in Castle Biosciences by 3.7% in the third quarter. Bellevue Group AG now owns 1,262,030 shares of the company’s stock worth $35,993,000 after purchasing an additional 44,929 shares during the period. Portolan Capital Management LLC raised its holdings in shares of Castle Biosciences by 3.7% during the third quarter. Portolan Capital Management LLC now owns 1,255,628 shares of the company’s stock valued at $35,811,000 after purchasing an additional 44,676 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Castle Biosciences by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 809,934 shares of the company’s stock worth $17,631,000 after purchasing an additional 60,675 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in shares of Castle Biosciences by 828.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 499,192 shares of the company’s stock valued at $14,237,000 after buying an additional 445,415 shares during the period. 92.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CSTL has been the topic of a number of research reports. Lake Street Capital upped their price target on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Robert W. Baird increased their target price on Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. BTIG Research boosted their price target on shares of Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Scotiabank raised their price objective on shares of Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. Finally, KeyCorp boosted their target price on shares of Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Eight 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 $37.88.

Insider Activity at Castle Biosciences

In other Castle Biosciences news, Director Daniel Bradbury sold 7,867 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $29.44, for a total transaction of $231,604.48. Following the completion of the transaction, the director now directly owns 5,700 shares of the company’s stock, valued at approximately $167,808. This represents a 57.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Frank Stokes sold 6,923 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $29.93, for a total value of $207,205.39. Following the transaction, the chief financial officer now directly owns 30,823 shares in the company, valued at $922,532.39. This represents a 18.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,213 shares of company stock worth $752,673. 7.20% of the stock is owned by company insiders.

Castle Biosciences Trading Down 3.0 %

NASDAQ:CSTL opened at $31.19 on Monday. Castle Biosciences, Inc. has a 52 week low of $16.97 and a 52 week high of $35.84. The firm has a 50-day moving average price of $31.19 and a two-hundred day moving average price of $26.95. The firm has a market cap of $873.63 million, a price-to-earnings ratio of 155.96 and a beta of 0.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78.

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. The firm had revenue of $85.78 million during the quarter, compared to the consensus estimate of $78.55 million. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. During the same quarter in the prior year, the company earned ($0.26) EPS. On average, equities analysts expect that Castle Biosciences, Inc. will post 0.34 earnings per share for the current fiscal year.

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.