Advisors Capital Management LLC Purchases 44,180 Shares of Castle Biosciences, Inc. $CSTL

Advisors Capital Management LLC lifted its position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 21.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 245,867 shares of the company’s stock after purchasing an additional 44,180 shares during the period. Advisors Capital Management LLC owned 0.85% of Castle Biosciences worth $5,021,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Castle Biosciences by 11.7% in the 1st quarter. Vanguard Group Inc. now owns 2,047,565 shares of the company’s stock valued at $40,992,000 after buying an additional 215,030 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Castle Biosciences by 14.7% in the 1st quarter. Wellington Management Group LLP now owns 828,528 shares of the company’s stock worth $16,587,000 after buying an additional 106,408 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Castle Biosciences by 11.6% in the second quarter. Allianz Asset Management GmbH now owns 713,742 shares of the company’s stock valued at $14,575,000 after acquiring an additional 74,265 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Castle Biosciences by 6.2% in the second quarter. Geode Capital Management LLC now owns 689,926 shares of the company’s stock valued at $14,090,000 after acquiring an additional 40,073 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Castle Biosciences by 65.4% during the first quarter. Acadian Asset Management LLC now owns 676,066 shares of the company’s stock valued at $13,527,000 after acquiring an additional 267,416 shares during the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on CSTL shares. BTIG Research boosted their price objective on Castle Biosciences from $32.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Wall Street Zen upgraded Castle Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, August 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Castle Biosciences in a report on Thursday, October 30th. Zacks Research upgraded shares of Castle Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Castle Biosciences in a research report on Tuesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.43.

Insider Activity

In related news, COO Kristen M. Oelschlager sold 12,678 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $25.04, for a total value of $317,457.12. Following the completion of the transaction, the chief operating officer directly owned 27,569 shares of the company’s stock, valued at approximately $690,327.76. This trade represents a 31.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Derek J. Maetzold sold 6,695 shares of Castle Biosciences stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $30.44, for a total transaction of $203,795.80. Following the completion of the transaction, the insider owned 56,293 shares of the company’s stock, valued at $1,713,558.92. This represents a 10.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 24,729 shares of company stock valued at $666,012 in the last quarter. Corporate insiders own 6.50% of the company’s stock.

Castle Biosciences Stock Down 2.0%

Shares of NASDAQ CSTL opened at $33.45 on Friday. Castle Biosciences, Inc. has a one year low of $14.59 and a one year high of $35.49. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.47 and a quick ratio of 6.31. The business’s fifty day moving average price is $25.14 and its 200-day moving average price is $20.90. The stock has a market capitalization of $976.41 million, a PE ratio of -74.33 and a beta of 1.12.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.32. Castle Biosciences had a positive return on equity of 1.73% and a negative net margin of 3.56%.The company had revenue of $80.55 million during the quarter, compared to analyst estimates of $71.06 million. Castle Biosciences has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Castle Biosciences, Inc. will post 0.44 EPS for the current year.

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.