Birchview Capital LP Has $2.26 Million Stake in Castle Biosciences, Inc. $CSTL

by · The Markets Daily

Birchview Capital LP boosted its position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL – Free Report) by 25.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 110,600 shares of the company’s stock after purchasing an additional 22,196 shares during the period. Castle Biosciences accounts for 2.2% of Birchview Capital LP’s investment portfolio, making the stock its 12th biggest holding. Birchview Capital LP owned 0.38% of Castle Biosciences worth $2,258,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Castle Biosciences by 11.7% in the first quarter. Vanguard Group Inc. now owns 2,047,565 shares of the company’s stock worth $40,992,000 after buying an additional 215,030 shares during the period. Wellington Management Group LLP lifted its stake in Castle Biosciences by 14.7% in the 1st quarter. Wellington Management Group LLP now owns 828,528 shares of the company’s stock worth $16,587,000 after acquiring an additional 106,408 shares in the last quarter. Allianz Asset Management GmbH boosted its position in Castle Biosciences by 11.6% during the 2nd quarter. Allianz Asset Management GmbH now owns 713,742 shares of the company’s stock worth $14,575,000 after acquiring an additional 74,265 shares during the period. Geode Capital Management LLC grew its stake in Castle Biosciences by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 689,926 shares of the company’s stock valued at $14,090,000 after acquiring an additional 40,073 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Castle Biosciences by 65.4% in the 1st quarter. Acadian Asset Management LLC now owns 676,066 shares of the company’s stock valued at $13,527,000 after purchasing an additional 267,416 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Insiders Place Their Bets

In related news, COO Kristen M. Oelschlager sold 12,678 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $25.04, for a total value of $317,457.12. Following the transaction, the chief operating officer directly owned 27,569 shares of the company’s stock, valued at approximately $690,327.76. This trade represents a 31.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Derek J. Maetzold sold 1,339 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $40.03, for a total value of $53,600.17. Following the completion of the sale, the insider owned 37,547 shares of the company’s stock, valued at approximately $1,503,006.41. This trade represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 35,876 shares of company stock valued at $1,091,445 over the last quarter. Insiders own 6.50% of the company’s stock.

Analyst Ratings Changes

CSTL has been the subject of a number of research analyst reports. BTIG Research increased their price target on shares of Castle Biosciences from $38.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday. Canaccord Genuity Group reiterated a “buy” rating and issued a $37.00 target price on shares of Castle Biosciences in a research report on Tuesday, September 9th. Robert W. Baird lifted their target price on shares of Castle Biosciences from $39.00 to $41.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Zacks Research upgraded shares of Castle Biosciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Castle Biosciences in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $39.14.

Get Our Latest Stock Analysis on CSTL

Castle Biosciences Stock Performance

Shares of CSTL opened at $38.63 on Friday. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -85.84 and a beta of 1.14. The company’s fifty day moving average is $31.21 and its 200-day moving average is $23.79. The company has a quick ratio of 6.31, a current ratio of 6.47 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a 12 month low of $14.59 and a 12 month high of $40.61.

Castle Biosciences (NASDAQ:CSTL – Get Free Report) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.32. The business had revenue of $80.55 million during the quarter, compared to analyst estimates of $71.06 million. Castle Biosciences had a negative net margin of 3.56% and a positive return on equity of 1.73%. Equities analysts expect that Castle Biosciences, Inc. will post 0.44 EPS for the current fiscal year.

About Castle Biosciences

(Free Report)

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.

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