Dimensional Fund Advisors LP Increases Stock Holdings in Castle Biosciences, Inc. (NASDAQ:CSTL)

Dimensional Fund Advisors LP raised its holdings in Castle Biosciences, Inc. (NASDAQ:CSTL) by 15.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 999,466 shares of the company’s stock after buying an additional 134,645 shares during the quarter. Dimensional Fund Advisors LP owned about 3.57% of Castle Biosciences worth $26,636,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CSTL. JPMorgan Chase & Co. raised its position in shares of Castle Biosciences by 165.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 69,409 shares of the company’s stock valued at $1,980,000 after purchasing an additional 43,241 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Castle Biosciences by 2.7% in the third quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company’s stock worth $43,879,000 after buying an additional 40,377 shares during the last quarter. Barclays PLC lifted its stake in shares of Castle Biosciences by 310.7% during the third quarter. Barclays PLC now owns 52,301 shares of the company’s stock worth $1,491,000 after buying an additional 39,567 shares during the period. Truist Financial Corp grew its holdings in shares of Castle Biosciences by 4.6% during the fourth quarter. Truist Financial Corp now owns 21,303 shares of the company’s stock valued at $568,000 after buying an additional 928 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of Castle Biosciences in the 4th quarter valued at $253,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Castle Biosciences Price Performance

Shares of NASDAQ CSTL opened at $16.62 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64. The stock has a market capitalization of $479.40 million, a price-to-earnings ratio of 83.10 and a beta of 1.19. The firm’s 50 day simple moving average is $20.11 and its 200-day simple moving average is $25.93. Castle Biosciences, Inc. has a 12 month low of $15.70 and a 12 month high of $35.84.

Castle Biosciences (NASDAQ:CSTL) last released 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). The firm had revenue of $87.99 million for the quarter, compared to analyst estimates of $80.40 million. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. Analysts expect that Castle Biosciences, Inc. will post 0.44 EPS for the current year.

Insider Buying and Selling

In other news, insider Derek J. Maetzold sold 1,236 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $21.52, for a total value of $26,598.72. Following the completion of the sale, the insider now directly owns 74,627 shares in the company, valued at $1,605,973.04. The trade was a 1.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 27,454 shares of company stock valued at $553,030. 7.20% of the stock is owned by company insiders.

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.