Kornitzer Capital Management Inc. KS Sells 135,636 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

Kornitzer Capital Management Inc. KS decreased its position in Castle Biosciences, Inc. (NASDAQ:CSTL) by 25.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 407,238 shares of the company’s stock after selling 135,636 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Castle Biosciences were worth $11,614,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CSTL. Allspring Global Investments Holdings LLC boosted its stake in shares of Castle Biosciences by 89.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,862 shares of the company’s stock valued at $241,000 after purchasing an additional 5,123 shares during the last quarter. Norden Group LLC acquired a new stake in Castle Biosciences during the 1st quarter worth approximately $547,000. GSA Capital Partners LLP lifted its position in Castle Biosciences by 9.0% in the 1st quarter. GSA Capital Partners LLP now owns 52,448 shares of the company’s stock valued at $1,162,000 after acquiring an additional 4,352 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in shares of Castle Biosciences in the first quarter worth $249,000. Finally, Vanguard Group Inc. boosted its holdings in Castle Biosciences by 2.2% during the first quarter. Vanguard Group Inc. now owns 1,494,176 shares of the company’s stock worth $33,096,000 after purchasing an additional 32,695 shares during the last quarter. 92.60% of the stock is owned by institutional investors.

Castle Biosciences Trading Up 0.4 %

Shares of NASDAQ:CSTL traded up $0.14 during midday trading on Thursday, hitting $32.80. 52,011 shares of the stock were exchanged, compared to its average volume of 323,027. The business’s 50-day moving average price is $30.78 and its 200 day moving average price is $25.72. Castle Biosciences, Inc. has a 12 month low of $16.20 and a 12 month high of $35.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.92 and a current ratio of 8.12. The stock has a market capitalization of $905.51 million, a price-to-earnings ratio of 163.30 and a beta of 0.99.

Castle Biosciences (NASDAQ:CSTL) last posted its earnings results on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.14. The firm had revenue of $85.78 million for the quarter, compared to analyst estimates of $78.55 million. Castle Biosciences had a negative net margin of 1.08% and a negative return on equity of 0.77%. During the same period in the previous year, the firm posted ($0.26) EPS. Analysts predict that Castle Biosciences, Inc. will post -0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Stephens restated an “overweight” rating and set a $37.00 price objective on shares of Castle Biosciences in a research note on Tuesday, August 6th. Lake Street Capital increased their price target on Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday. Robert W. Baird raised their price target on Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Tuesday. Canaccord Genuity Group upped their price objective on Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Finally, BTIG Research raised their target price on shares of Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $37.88.

Insider Activity at Castle Biosciences

In other Castle Biosciences news, Director Daniel Bradbury sold 7,883 shares of Castle Biosciences stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $26.65, for a total transaction of $210,081.95. Following the transaction, the director now directly owns 8,550 shares of the company’s stock, valued at approximately $227,857.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Castle Biosciences news, Director Daniel Bradbury sold 7,883 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $26.65, for a total transaction of $210,081.95. Following the completion of the sale, the director now owns 8,550 shares of the company’s stock, valued at approximately $227,857.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Derek J. Maetzold sold 986 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $30.27, for a total transaction of $29,846.22. Following the transaction, the insider now owns 93,636 shares of the company’s stock, valued at approximately $2,834,361.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,694 shares of company stock worth $563,497 over the last three months. Company insiders own 7.20% 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.