JPMorgan Chase & Co. Raises Stock Holdings in Castle Biosciences, Inc. (NASDAQ:CSTL)

JPMorgan Chase & Co. grew its position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 55.5% during the fourth quarter, Holdings Channel reports. The firm owned 107,936 shares of the company’s stock after acquiring an additional 38,527 shares during the quarter. JPMorgan Chase & Co.’s holdings in Castle Biosciences were worth $2,876,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CSTL. China Universal Asset Management Co. Ltd. boosted its position 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 during the period. Truist Financial Corp increased its holdings in Castle Biosciences by 4.6% in the fourth quarter. Truist Financial Corp now owns 21,303 shares of the company’s stock valued at $568,000 after buying an additional 928 shares during the last quarter. Bailard Inc. raised its stake in Castle Biosciences by 12.5% in the fourth quarter. Bailard Inc. now owns 9,900 shares of the company’s stock valued at $264,000 after buying an additional 1,100 shares in the last quarter. Perkins Capital Management Inc. lifted its holdings in Castle Biosciences by 4.7% during the 4th quarter. Perkins Capital Management Inc. now owns 34,165 shares of the company’s stock worth $910,000 after buying an additional 1,525 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of Castle Biosciences during the 4th quarter worth about $42,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Castle Biosciences Trading Up 4.0 %

CSTL opened at $21.98 on Wednesday. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a 52 week low of $16.97 and a 52 week high of $35.84. The business’s 50 day moving average is $21.41 and its two-hundred day moving average is $26.75. The firm has a market cap of $634.01 million, a price-to-earnings ratio of 109.91 and a beta of 1.11.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Stephens reissued an “overweight” rating and set a $41.00 target price on shares of Castle Biosciences in a research report on Thursday, January 2nd. Robert W. Baird increased their price target on shares of Castle Biosciences from $36.00 to $37.00 and gave the company an “outperform” rating in a research note 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 report on Friday, March 28th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $38.75.

Insider Transactions at Castle Biosciences

In related news, insider Derek J. Maetzold sold 2,130 shares of the stock in a transaction on Monday, March 10th. The shares were 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 owns 78,335 shares in the company, valued at $1,529,099.20. This represents a 2.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel Bradbury sold 7,867 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $28.17, for a total transaction of $221,613.39. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,085 shares of company stock worth $748,045. 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.