Marshall Wace LLP Boosts Stock Holdings in Castle Biosciences, Inc. (NASDAQ:CSTL)

Marshall Wace LLP raised its stake in Castle Biosciences, Inc. (NASDAQ:CSTL) by 116.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 212,036 shares of the company’s stock after acquiring an additional 114,104 shares during the period. Marshall Wace LLP owned approximately 0.77% of Castle Biosciences worth $4,616,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. RiverPark Advisors LLC boosted 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 valued at $63,000 after buying an additional 2,242 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Castle Biosciences by 70.3% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 5,297 shares of the company’s stock valued at $117,000 after acquiring an additional 2,187 shares during the last quarter. Denali Advisors LLC purchased a new position in shares of Castle Biosciences in the first quarter valued at $186,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Castle Biosciences by 10.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock worth $215,000 after purchasing an additional 952 shares during the last quarter. Finally, Birchview Capital LP purchased a new stake in Castle Biosciences during the fourth quarter valued at $216,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Castle Biosciences Stock Performance

Castle Biosciences stock opened at $28.09 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.92 and a current ratio of 8.12. The company has a market capitalization of $775.48 million, a PE ratio of -24.43 and a beta of 1.02. The company has a 50 day moving average price of $27.57 and a 200-day moving average price of $23.71. Castle Biosciences, Inc. has a fifty-two week low of $12.07 and a fifty-two week high of $32.53.

Castle Biosciences (NASDAQ:CSTL) last issued 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. The business had revenue of $87.00 million during the quarter, compared to analysts’ expectations of $69.95 million. Castle Biosciences had a negative return on equity of 0.77% and a negative net margin of 1.08%. During the same period in the prior year, the business earned ($0.70) EPS. As a group, equities analysts forecast that Castle Biosciences, Inc. will post -0.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Kristen M. Oelschlager sold 2,793 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $22.06, for a total value of $61,613.58. Following the completion of the sale, the chief operating officer now owns 145,825 shares in the company, valued at approximately $3,216,899.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Kristen M. Oelschlager sold 12,989 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $23.06, for a total transaction of $299,526.34. Following the sale, the chief operating officer now owns 132,836 shares of the company’s stock, valued at $3,063,198.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Kristen M. Oelschlager sold 2,793 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $22.06, for a total transaction of $61,613.58. Following the completion of the transaction, the chief operating officer now 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 a total of 33,665 shares of company stock worth $828,222 in the last three months. Corporate insiders own 7.20% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.