Inspire Investing LLC Grows Holdings in Castle Biosciences, Inc. (NASDAQ:CSTL)

Inspire Investing LLC grew its stake in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 7.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,750 shares of the company’s stock after buying an additional 3,234 shares during the quarter. Inspire Investing LLC owned 0.16% of Castle Biosciences worth $1,219,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CSTL. Quest Partners LLC raised its position in Castle Biosciences by 54.4% during the third quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock valued at $123,000 after purchasing an additional 1,522 shares in the last quarter. US Bancorp DE increased its position in shares of Castle Biosciences by 1,889.2% during the 3rd quarter. US Bancorp DE now owns 4,615 shares of the company’s stock valued at $132,000 after purchasing an additional 4,383 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of Castle Biosciences during the 3rd quarter valued at about $140,000. Assetmark Inc. lifted 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. Finally, China Universal Asset Management Co. Ltd. boosted its stake in Castle Biosciences by 64.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock worth $152,000 after buying an additional 2,093 shares in the last quarter. 92.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CSTL has been the topic of several research reports. Scotiabank lifted their price target on shares of Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. Robert W. Baird lifted their target price on shares of Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Stephens restated an “overweight” rating and set a $41.00 price target on shares of Castle Biosciences in a research report on Thursday, January 2nd. Canaccord Genuity Group lifted their price objective on Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Finally, BTIG Research increased their target price on Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a report on Monday, October 14th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $40.29.

Castle Biosciences Stock Performance

Castle Biosciences stock opened at $26.50 on Friday. Castle Biosciences, Inc. has a 1-year low of $16.97 and a 1-year high of $35.84. The firm has a market cap of $742.27 million, a P/E ratio of 132.51 and a beta of 0.92. 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 50-day moving average of $28.66 and a 200-day moving average of $28.18.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.14. The firm had revenue of $85.78 million for the quarter, compared to analyst estimates of $78.55 million. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. During the same period last year, the company earned ($0.26) EPS. Sell-side analysts expect that Castle Biosciences, Inc. will post 0.38 EPS for the current year.

Insider Buying and Selling at Castle Biosciences

In related news, insider Derek J. Maetzold sold 986 shares of Castle Biosciences stock in a transaction that occurred 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 sale, the insider now directly owns 80,818 shares in the company, valued at $2,265,328.54. The trade was a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Frank Stokes sold 6,923 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $29.93, for a total value of $207,205.39. Following the completion of the transaction, the chief financial officer now owns 30,823 shares of the company’s stock, valued at approximately $922,532.39. This trade represents a 18.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,306 shares of company stock valued at $1,063,756. 7.20% of the stock is currently owned by company insiders.

About Castle Biosciences

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.