Bank of New York Mellon Corp Has $2.25 Million Position in Castle Biosciences, Inc. (NASDAQ:CSTL)

Bank of New York Mellon Corp increased its holdings in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 10.3% during the fourth quarter, Holdings Channel reports. The fund owned 84,459 shares of the company’s stock after acquiring an additional 7,881 shares during the quarter. Bank of New York Mellon Corp’s holdings in Castle Biosciences were worth $2,251,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in CSTL. R Squared Ltd acquired a new position in shares of Castle Biosciences during the 4th quarter worth approximately $42,000. Quest Partners LLC grew its holdings in Castle Biosciences by 54.4% in the 3rd quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock valued at $123,000 after buying an additional 1,522 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Castle Biosciences in the 3rd quarter valued at $140,000. China Universal Asset Management Co. Ltd. grew its holdings in 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 buying an additional 604 shares in the last quarter. Finally, Oak Harvest Investment Services acquired a new position in Castle Biosciences in the 4th quarter valued at $206,000. 92.60% of the stock is owned by institutional investors and hedge funds.

Castle Biosciences Stock Performance

NASDAQ:CSTL opened at $20.52 on Friday. The stock has a fifty day moving average price of $24.69 and a 200-day moving average price of $28.32. The company has a market cap of $574.70 million, a price-to-earnings ratio of 102.61 and a beta of 0.98. 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 fifty-two week low of $16.97 and a fifty-two week high of $35.84.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CSTL. Stephens reaffirmed an “overweight” rating and issued a $41.00 price objective on shares of Castle Biosciences in a report on Thursday, January 2nd. Robert W. Baird upped their price objective on Castle Biosciences from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $40.00.

Insider Activity

In other news, insider Derek J. Maetzold sold 2,130 shares of the company’s stock in a transaction on Monday, March 10th. The stock was 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 in the company, valued at approximately $1,529,099.20. This represents a 2.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel Bradbury sold 7,867 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $28.17, for a total value of $221,613.39. The disclosure for this sale can be found here. In the last three months, insiders sold 44,204 shares of company stock worth $1,055,988. 7.20% of the stock is currently owned by company insiders.

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.