Schonfeld Strategic Advisors LLC Sells 40,700 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

Schonfeld Strategic Advisors LLC decreased its position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 72.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,300 shares of the company’s stock after selling 40,700 shares during the quarter. Schonfeld Strategic Advisors LLC owned about 0.05% of Castle Biosciences worth $408,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd bought a new position in Castle Biosciences during the 4th quarter worth approximately $25,000. R Squared Ltd bought a new position in Castle Biosciences during the 4th quarter worth approximately $42,000. KLP Kapitalforvaltning AS bought a new position in Castle Biosciences during the 4th quarter worth approximately $128,000. China Universal Asset Management Co. Ltd. raised its holdings in Castle Biosciences by 11.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,939 shares of the company’s stock worth $158,000 after purchasing an additional 604 shares during the last quarter. Finally, Oak Harvest Investment Services bought a new position in Castle Biosciences during the 4th quarter worth approximately $206,000. Institutional investors own 92.60% of the company’s stock.

Castle Biosciences Stock Performance

NASDAQ CSTL opened at $16.79 on Monday. The company has a fifty day simple moving average of $19.83 and a 200 day simple moving average of $25.57. Castle Biosciences, Inc. has a 12-month low of $15.70 and a 12-month high of $35.84. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. The company has a market cap of $484.76 million, a P/E ratio of 83.95 and a beta of 1.19.

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

Insider Activity at Castle Biosciences

In related news, insider Derek J. Maetzold sold 2,130 shares of Castle Biosciences stock in a transaction on Monday, March 10th. The shares were sold at an average price of $19.52, for a total value of $41,577.60. Following the completion of the sale, the insider now owns 78,335 shares of the company’s stock, valued at approximately $1,529,099.20. This trade represents a 2.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 27,454 shares of company stock valued at $553,030. 6.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CSTL has been the subject of several recent analyst reports. Lake Street Capital reduced their price objective on shares of Castle Biosciences from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Canaccord Genuity Group reduced their price objective on shares of Castle Biosciences from $42.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Robert W. Baird raised their price objective on shares of Castle Biosciences from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Finally, Guggenheim set a $30.00 price objective on shares of Castle Biosciences and gave the stock a “buy” rating in a research report on Friday, March 28th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $37.50.

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.