Man Group plc Buys Shares of 13,302 Castle Biosciences, Inc. (NASDAQ:CSTL)

Man Group plc bought a new stake in Castle Biosciences, Inc. (NASDAQ:CSTL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,302 shares of the company’s stock, valued at approximately $354,000.

Several other hedge funds have also recently made changes to their positions in CSTL. R Squared Ltd bought a new stake in shares of Castle Biosciences in the fourth quarter valued at $42,000. Oak Harvest Investment Services bought a new stake in shares of Castle Biosciences in the fourth quarter valued at $206,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Castle Biosciences by 11.3% in the fourth 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 raised its stake in shares of 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 period. Finally, New York State Common Retirement Fund raised its stake in shares of Castle Biosciences by 2.8% in the fourth quarter. New York State Common Retirement Fund now owns 189,101 shares of the company’s stock valued at $5,040,000 after buying an additional 5,170 shares during the period. 92.60% of the stock is currently owned by institutional investors.

Insider Transactions at Castle Biosciences

In other news, insider Derek J. Maetzold sold 2,130 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $19.52, for a total value of $41,577.60. Following the completion of the transaction, the insider now directly owns 78,335 shares in the company, valued at approximately $1,529,099.20. This represents a 2.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 27,454 shares of company stock worth $553,030. 6.50% of the stock is currently owned by corporate insiders.

Castle Biosciences Price Performance

Castle Biosciences stock opened at $16.10 on Tuesday. Castle Biosciences, Inc. has a 52 week low of $15.66 and a 52 week high of $35.84. The business has a 50-day simple moving average of $19.05 and a 200 day simple moving average of $24.29. 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 stock has a market cap of $464.84 million, a price-to-earnings ratio of 80.50 and a beta of 1.19.

Castle Biosciences (NASDAQ:CSTL) last posted its earnings results 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 return on equity of 1.47% and a net margin of 1.95%. The business had revenue of $87.99 million for the quarter, compared to analysts’ expectations of $80.40 million. On average, research analysts forecast that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

CSTL has been the topic of a number of recent research reports. Robert W. Baird increased 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. Lake Street Capital lowered their price target on shares of Castle Biosciences from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Guggenheim set a $30.00 price objective on shares of Castle Biosciences and gave the company a “buy” rating in a research report on Friday, March 28th. Canaccord Genuity Group cut their price objective on shares of Castle Biosciences from $42.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Finally, Scotiabank cut their price objective on shares of Castle Biosciences from $44.00 to $40.00 and set a “sector outperform” rating for the company in a research report on Wednesday, May 21st. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $37.00.

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.