Acadian Asset Management LLC Has $11.11 Million Stock Position in Castle Biosciences, Inc. $CSTL

Acadian Asset Management LLC reduced its stake in Castle Biosciences, Inc. (NASDAQ:CSTL) by 19.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 544,250 shares of the company’s stock after selling 131,816 shares during the quarter. Acadian Asset Management LLC owned about 1.88% of Castle Biosciences worth $11,109,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Harbour Investments Inc. bought a new position in shares of Castle Biosciences during the first quarter worth approximately $50,000. Jones Financial Companies Lllp grew its holdings in Castle Biosciences by 10,592.0% in the 1st quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company’s stock valued at $54,000 after buying an additional 2,648 shares in the last quarter. Amundi increased its position in Castle Biosciences by 15,811.5% during the 1st quarter. Amundi now owns 4,137 shares of the company’s stock worth $79,000 after buying an additional 4,111 shares during the period. CWM LLC boosted its position in shares of Castle Biosciences by 835.0% in the first quarter. CWM LLC now owns 4,142 shares of the company’s stock valued at $83,000 after acquiring an additional 3,699 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in shares of Castle Biosciences by 9.6% in the first quarter. Teacher Retirement System of Texas now owns 10,383 shares of the company’s stock valued at $208,000 after acquiring an additional 908 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CSTL. Robert W. Baird boosted their price objective on shares of Castle Biosciences from $39.00 to $41.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Wall Street Zen raised Castle Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. Zacks Research raised Castle Biosciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Canaccord Genuity Group reiterated a “buy” rating and set a $37.00 target price on shares of Castle Biosciences in a research report on Tuesday, September 9th. Finally, BTIG Research increased their target price on Castle Biosciences from $32.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Castle Biosciences has an average rating of “Moderate Buy” and an average target price of $37.43.

Castle Biosciences Stock Up 0.7%

CSTL stock opened at $34.97 on Wednesday. The firm has a 50-day moving average price of $24.49 and a 200-day moving average price of $20.62. Castle Biosciences, Inc. has a 12 month low of $14.59 and a 12 month high of $35.49. The company has a current ratio of 6.47, a quick ratio of 6.31 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $1.02 billion, a P/E ratio of -77.71 and a beta of 1.12.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.32. The business had revenue of $83.04 million during the quarter, compared to analysts’ expectations of $71.06 million. Castle Biosciences had a negative net margin of 3.56% and a positive return on equity of 1.73%. Castle Biosciences has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Castle Biosciences, Inc. will post 0.44 EPS for the current fiscal year.

Insider Buying and Selling at Castle Biosciences

In other news, insider Derek J. Maetzold sold 6,695 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $30.44, for a total value of $203,795.80. Following the completion of the transaction, the insider directly owned 56,293 shares in the company, valued at approximately $1,713,558.92. This represents a 10.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Kristen M. Oelschlager sold 12,678 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $25.04, for a total value of $317,457.12. Following the sale, the chief operating officer owned 27,569 shares in the company, valued at $690,327.76. This represents a 31.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 24,729 shares of company stock valued at $666,012 over the last quarter. Company insiders own 7.20% of the company’s stock.

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.