Cherry Creek Investment Advisors Inc. Buys New Position in Castle Biosciences, Inc. (NASDAQ:CSTL)

Cherry Creek Investment Advisors Inc. bought a new stake in Castle Biosciences, Inc. (NASDAQ:CSTL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,585 shares of the company’s stock, valued at approximately $263,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. New York State Common Retirement Fund grew its position in Castle Biosciences by 22.8% during the first quarter. New York State Common Retirement Fund now owns 30,718 shares of the company’s stock valued at $2,103,000 after acquiring an additional 5,700 shares during the last quarter. Principal Financial Group Inc. grew its position in Castle Biosciences by 90.6% during the second quarter. Principal Financial Group Inc. now owns 168,827 shares of the company’s stock valued at $12,380,000 after acquiring an additional 80,263 shares during the last quarter. Renaissance Technologies LLC bought a new position in Castle Biosciences during the first quarter valued at approximately $1,883,000. Aviva PLC bought a new position in Castle Biosciences during the first quarter valued at approximately $1,323,000. Finally, ARK Investment Management LLC grew its position in Castle Biosciences by 25.6% during the first quarter. ARK Investment Management LLC now owns 2,597,288 shares of the company’s stock valued at $177,810,000 after acquiring an additional 528,696 shares during the last quarter. 82.55% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ CSTL traded up $3.16 on Thursday, hitting $66.36. 1,795 shares of the company’s stock were exchanged, compared to its average volume of 168,947. The firm’s 50-day moving average price is $69.92 and its two-hundred day moving average price is $67.83. Castle Biosciences, Inc. has a fifty-two week low of $43.37 and a fifty-two week high of $107.69.

Castle Biosciences (NASDAQ:CSTL) last announced its earnings results on Sunday, August 8th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.05). The company had revenue of $22.76 million for the quarter, compared to analyst estimates of $19.09 million. Castle Biosciences had a negative net margin of 28.88% and a negative return on equity of 5.90%. Equities analysts forecast that Castle Biosciences, Inc. will post -1.23 earnings per share for the current fiscal year.

In other Castle Biosciences news, Director Daniel Bradbury sold 644 shares of the firm’s stock in a transaction dated Tuesday, August 17th. The stock was sold at an average price of $60.02, for a total value of $38,652.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Derek J. Maetzold sold 5,510 shares of the firm’s stock in a transaction dated Tuesday, August 17th. The shares were sold at an average price of $59.01, for a total value of $325,145.10. The disclosure for this sale can be found here. Insiders sold a total of 116,408 shares of company stock worth $8,030,476 over the last ninety days. Corporate insiders own 39.70% of the company’s stock.

A number of brokerages recently commented on CSTL. Robert W. Baird raised their price target on Castle Biosciences from $73.00 to $78.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 10th. SVB Leerink lifted their price target on Castle Biosciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 14th. Zacks Investment Research downgraded Castle Biosciences from a “hold” rating to a “sell” rating in a report on Tuesday, August 10th. Finally, Canaccord Genuity lifted their price objective on Castle Biosciences from $47.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, September 3rd. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Castle Biosciences presently has a consensus rating of “Buy” and an average price target of $79.83.

Castle Biosciences Profile

Castle Biosciences, Inc is a commercial-stage dermatological cancer company, which engages in the provision of genomic information for physicians and patients. The firm offers DecisionDx-Melanoma, a proprietary multi-gene expression profile (GEP) test that predicts the risk of metastasis and recurrence for patients diagnosed with invasive cutaneous melanoma.

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Institutional Ownership by Quarter for Castle Biosciences (NASDAQ:CSTL)

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