Yu Fan Sells 14,244 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

Yu Fan reduced its stake in Castle Biosciences, Inc. (NASDAQ:CSTL) by 38.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,503 shares of the company’s stock after selling 14,244 shares during the period. Castle Biosciences accounts for about 2.0% of Yu Fan’s investment portfolio, making the stock its 4th biggest holding. Yu Fan’s holdings in Castle Biosciences were worth $642,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in CSTL. Principal Financial Group Inc. increased its holdings in shares of Castle Biosciences by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company’s stock worth $43,879,000 after acquiring an additional 40,377 shares during the period. Vanguard Group Inc. increased its stake in shares of Castle Biosciences by 2.2% in the first quarter. Vanguard Group Inc. now owns 1,494,176 shares of the company’s stock valued at $33,096,000 after purchasing an additional 32,695 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Castle Biosciences by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 809,934 shares of the company’s stock valued at $17,631,000 after buying an additional 60,675 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Castle Biosciences by 47.3% during the second quarter. Renaissance Technologies LLC now owns 301,500 shares of the company’s stock worth $6,564,000 after buying an additional 96,800 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in Castle Biosciences by 33.0% in the 2nd quarter. Acadian Asset Management LLC now owns 280,497 shares of the company’s stock worth $6,101,000 after buying an additional 69,673 shares in the last quarter. 92.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Scotiabank lifted their target price on Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. Lake Street Capital lifted their price objective on shares of Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group increased their target price on shares of Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Robert W. Baird boosted their price target on shares of Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, KeyCorp upped their price target on shares of Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, Castle Biosciences presently has an average rating of “Buy” and an average price target of $37.88.

Insider Buying and Selling at Castle Biosciences

In other news, Director Daniel Bradbury sold 7,867 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $29.44, for a total transaction of $231,604.48. Following the sale, the director now owns 5,700 shares in the company, valued at $167,808. The trade was a 57.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tobin W. Juvenal sold 3,507 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $35.56, for a total transaction of $124,708.92. Following the completion of the transaction, the insider now directly owns 54,178 shares of the company’s stock, valued at $1,926,569.68. This represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,213 shares of company stock valued at $752,673. 7.20% of the stock is currently owned by corporate insiders.

Castle Biosciences Stock Performance

Shares of CSTL opened at $30.44 on Thursday. 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 firm’s 50 day moving average is $30.94 and its 200-day moving average is $26.60. Castle Biosciences, Inc. has a 12-month low of $16.97 and a 12-month high of $35.84. The stock has a market capitalization of $852.53 million, a P/E ratio of 152.20 and a beta of 0.99.

Castle Biosciences (NASDAQ:CSTL) last announced its earnings results on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.14. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. The company had revenue of $85.78 million for the quarter, compared to analyst estimates of $78.55 million. During the same period in the previous year, the firm earned ($0.26) earnings per share. Equities research analysts anticipate that Castle Biosciences, Inc. will post -0.08 EPS for the current fiscal year.

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.