Nuveen Asset Management LLC Has $12.41 Million Position in Castle Biosciences, Inc. (NASDAQ:CSTL)

Nuveen Asset Management LLC trimmed its position in Castle Biosciences, Inc. (NASDAQ:CSTL) by 14.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 465,526 shares of the company’s stock after selling 77,067 shares during the period. Nuveen Asset Management LLC owned approximately 1.66% of Castle Biosciences worth $12,406,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Wellington Management Group LLP bought a new stake in Castle Biosciences in the fourth quarter valued at approximately $19,244,000. Millennium Management LLC increased its position in shares of Castle Biosciences by 290.5% in the 4th quarter. Millennium Management LLC now owns 548,809 shares of the company’s stock valued at $14,626,000 after buying an additional 408,272 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Castle Biosciences during the 4th quarter worth $6,639,000. Captrust Financial Advisors raised its stake in Castle Biosciences by 2,567.5% during the 4th quarter. Captrust Financial Advisors now owns 215,322 shares of the company’s stock worth $5,738,000 after buying an additional 207,250 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Castle Biosciences by 100.0% during the fourth quarter. Bank of America Corp DE now owns 403,553 shares of the company’s stock worth $10,755,000 after acquiring an additional 201,806 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Castle Biosciences Trading Up 1.3%

CSTL opened at $16.10 on Tuesday. The stock has a market capitalization of $464.84 million, a P/E ratio of 80.50 and a beta of 1.19. Castle Biosciences, Inc. has a 12 month low of $15.66 and a 12 month high of $35.84. The firm’s fifty day simple moving average is $19.05 and its 200 day simple moving average is $24.29. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02.

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

Insiders Place Their Bets

In other Castle Biosciences news, insider Derek J. Maetzold sold 2,130 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $19.52, for a total transaction of $41,577.60. Following the sale, the insider now directly owns 78,335 shares of the company’s stock, valued at $1,529,099.20. The trade was a 2.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 27,454 shares of company stock valued at $553,030 in the last three months. 6.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CSTL has been the subject of several recent analyst reports. Robert W. Baird increased 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. Lake Street Capital lowered their target price on Castle Biosciences from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Guggenheim set a $30.00 price target on shares of Castle Biosciences and gave the company a “buy” rating in a research note on Friday, March 28th. Canaccord Genuity Group reduced their price target on shares of Castle Biosciences from $42.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Finally, Scotiabank dropped their price objective on shares of Castle Biosciences from $44.00 to $40.00 and set a “sector outperform” rating on the stock in a report on Wednesday, May 21st. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $37.00.

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.