Castle Biosciences, Inc. (NASDAQ:CSTL) Stock Holdings Lifted by MetLife Investment Management LLC

MetLife Investment Management LLC raised its position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 11.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,017 shares of the company’s stock after purchasing an additional 1,645 shares during the period. MetLife Investment Management LLC owned 0.06% of Castle Biosciences worth $427,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CSTL. Covestor Ltd acquired a new position in Castle Biosciences during the fourth quarter worth $25,000. R Squared Ltd bought a new stake in shares of Castle Biosciences during the 4th quarter worth about $42,000. KLP Kapitalforvaltning AS acquired a new position in shares of Castle Biosciences during the 4th quarter valued at about $128,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Castle Biosciences by 11.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,939 shares of the company’s stock valued at $158,000 after acquiring an additional 604 shares in the last quarter. Finally, Oak Harvest Investment Services acquired a new stake in Castle Biosciences in the 4th quarter worth approximately $206,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Derek J. Maetzold sold 2,130 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $19.52, for a total value of $41,577.60. Following the completion of the transaction, the insider now owns 78,335 shares in the company, valued at approximately $1,529,099.20. This represents a 2.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 27,454 shares of company stock valued at $553,030 over the last ninety days. 7.20% of the stock is owned by company insiders.

Castle Biosciences Stock Down 11.4 %

Shares of CSTL opened at $16.62 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 company has a 50-day simple moving average of $20.11 and a 200-day simple moving average of $25.93. Castle Biosciences, Inc. has a 52 week low of $15.70 and a 52 week high of $35.84. The firm has a market capitalization of $479.40 million, a P/E ratio of 83.10 and a beta of 1.19.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.12). Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The firm had revenue of $87.99 million during the quarter, compared to analyst estimates of $80.40 million. On average, equities research analysts expect that Castle Biosciences, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CSTL. Guggenheim set a $30.00 price target on Castle Biosciences and gave the company a “buy” rating in a report on Friday, March 28th. Canaccord Genuity Group lowered their target price on shares of Castle Biosciences from $42.00 to $37.00 and set a “buy” rating on the stock in a research note on Tuesday. Lake Street Capital cut their target price on shares of Castle Biosciences from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Robert W. Baird raised their price target on Castle Biosciences from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, Castle Biosciences presently has an average rating of “Buy” and a consensus target price of $37.50.

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.