Northern Trust Corp Boosts Stock Position in Castle Biosciences, Inc. (NASDAQ:CSTL)

Northern Trust Corp boosted its holdings in Castle Biosciences, Inc. (NASDAQ:CSTL) by 8.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 284,587 shares of the company’s stock after buying an additional 22,657 shares during the quarter. Northern Trust Corp owned approximately 1.02% of Castle Biosciences worth $7,584,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Covestor Ltd acquired a new stake in shares of Castle Biosciences in the 4th quarter valued at about $25,000. R Squared Ltd acquired a new stake in shares of Castle Biosciences in the 4th quarter valued at about $42,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Castle Biosciences in the 4th quarter valued at about $128,000. China Universal Asset Management Co. Ltd. boosted its position 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 purchasing an additional 604 shares during the period. Finally, Oak Harvest Investment Services acquired a new stake in shares of Castle Biosciences in the 4th quarter valued at about $206,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Castle Biosciences Stock Performance

Shares of Castle Biosciences stock opened at $16.75 on Monday. 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, Inc. has a 1 year low of $15.70 and a 1 year high of $35.84. The firm’s 50-day simple moving average is $19.49 and its 200-day simple moving average is $24.99. The firm has a market cap of $483.61 million, a PE ratio of 83.75 and a beta of 1.19.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.12). Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The business had revenue of $87.99 million for the quarter, compared to the consensus estimate of $80.40 million. Equities analysts forecast that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CSTL has been the topic of a number of research reports. Robert W. Baird raised their price target on Castle Biosciences from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Guggenheim set a $30.00 price target on Castle Biosciences and gave the stock a “buy” rating in a report on Friday, March 28th. Canaccord Genuity Group lowered their price target on Castle Biosciences from $42.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Finally, Lake Street Capital lowered their price target on Castle Biosciences from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Castle Biosciences presently has an average rating of “Buy” and an average price target of $37.50.

Insider Activity

In related news, insider Derek J. Maetzold sold 2,130 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $19.52, for a total transaction of $41,577.60. Following the completion of the sale, the insider now directly owns 78,335 shares of the company’s stock, valued at $1,529,099.20. This represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 27,454 shares of company stock worth $553,030 over the last three months. Corporate insiders own 7.20% of the company’s stock.

Castle Biosciences 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.