Voya Investment Management LLC Cuts Stock Position in Castle Biosciences, Inc. (NASDAQ:CSTL)

Voya Investment Management LLC lessened its position in Castle Biosciences, Inc. (NASDAQ:CSTL) by 7.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,876 shares of the company’s stock after selling 668 shares during the quarter. Voya Investment Management LLC’s holdings in Castle Biosciences were worth $210,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Castle Biosciences by 8.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 22,697 shares of the company’s stock worth $605,000 after acquiring an additional 1,837 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Castle Biosciences by 201.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,265 shares of the company’s stock worth $300,000 after buying an additional 7,524 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Castle Biosciences by 11.4% during the 4th quarter. MetLife Investment Management LLC now owns 16,017 shares of the company’s stock worth $427,000 after buying an additional 1,645 shares in the last quarter. Natixis acquired a new stake in shares of Castle Biosciences in the 4th quarter worth approximately $522,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Castle Biosciences by 15.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 999,466 shares of the company’s stock worth $26,636,000 after acquiring an additional 134,645 shares during the period. 92.60% of the stock is owned by institutional investors and hedge funds.

Castle Biosciences Stock Performance

NASDAQ:CSTL opened at $17.03 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. The firm has a market capitalization of $491.69 million, a PE ratio of 85.15 and a beta of 1.19. The firm has a 50-day moving average price of $19.67 and a 200 day moving average price of $25.41. Castle Biosciences, Inc. has a 12-month low of $15.70 and a 12-month high of $35.84.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.20) 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 company had revenue of $87.99 million during the quarter, compared to the consensus estimate of $80.40 million. Research analysts anticipate that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Transactions at Castle Biosciences

In related news, insider Derek J. Maetzold sold 2,130 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $19.52, for a total value of $41,577.60. Following the transaction, the insider now owns 78,335 shares in the company, valued at approximately $1,529,099.20. This represents a 2.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 27,454 shares of company stock worth $553,030 in the last ninety days. Insiders own 6.50% of the company’s stock.

About Castle Biosciences

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.