Alpha DNA Investment Management LLC Sells 3,275 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

Alpha DNA Investment Management LLC lessened its position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 16.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,763 shares of the company’s stock after selling 3,275 shares during the period. Alpha DNA Investment Management LLC owned 0.06% of Castle Biosciences worth $478,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CSTL. Quest Partners LLC raised its stake in Castle Biosciences by 54.4% during the third quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock worth $123,000 after buying an additional 1,522 shares during the last quarter. US Bancorp DE increased its stake in Castle Biosciences by 1,889.2% in the third quarter. US Bancorp DE now owns 4,615 shares of the company’s stock valued at $132,000 after purchasing an additional 4,383 shares in the last quarter. Assetmark Inc. increased its stake in Castle Biosciences by 16.8% in the third quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock valued at $149,000 after purchasing an additional 748 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Castle Biosciences by 64.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock valued at $152,000 after purchasing an additional 2,093 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Castle Biosciences by 10.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock valued at $215,000 after purchasing an additional 952 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

Insider Activity at Castle Biosciences

In other Castle Biosciences news, CFO Frank Stokes sold 6,923 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $29.93, for a total value of $207,205.39. Following the sale, the chief financial officer now directly owns 30,823 shares in the company, valued at $922,532.39. This represents a 18.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel Bradbury sold 7,867 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $29.44, for a total transaction of $231,604.48. Following the completion of the sale, the director now owns 5,700 shares in the company, valued at $167,808. This represents a 57.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,213 shares of company stock worth $752,673. 7.20% of the stock is owned by corporate insiders.

Castle Biosciences Stock Up 3.2 %

Castle Biosciences stock opened at $29.81 on Monday. Castle Biosciences, Inc. has a twelve month low of $16.97 and a twelve month high of $35.84. The firm has a 50 day moving average price of $30.98 and a 200-day moving average price of $26.50. The company has a market capitalization of $834.98 million, a P/E ratio of 149.06 and a beta of 0.99. 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 (NASDAQ:CSTL) last released its earnings results on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.14. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The firm had revenue of $85.78 million during the quarter, compared to the consensus estimate of $78.55 million. During the same period in the prior year, the firm earned ($0.26) EPS. As a group, equities analysts predict that Castle Biosciences, Inc. will post -0.08 EPS for the current year.

Analysts Set New Price Targets

CSTL has been the subject of several research analyst reports. Scotiabank lifted their price target on shares of Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. KeyCorp boosted their target price on shares of Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group boosted their target price on shares of Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. BTIG Research upped their price objective on shares of Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Lake Street Capital upped their price objective on shares of Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $37.88.

Castle Biosciences 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.