Advantage Alpha Capital Partners LP Purchases Shares of 10,940 Castle Biosciences, Inc. (NASDAQ:CSTL)

Advantage Alpha Capital Partners LP acquired a new stake in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 10,940 shares of the company’s stock, valued at approximately $312,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC lifted its position in shares of Castle Biosciences by 54.4% in 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 in the last quarter. US Bancorp DE increased its stake in Castle Biosciences by 1,889.2% in the 3rd quarter. US Bancorp DE now owns 4,615 shares of the company’s stock worth $132,000 after acquiring an additional 4,383 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Castle Biosciences by 16.8% during the 3rd quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock worth $149,000 after acquiring an additional 748 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Castle Biosciences by 64.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock valued at $152,000 after acquiring an additional 2,093 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of 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.

Castle Biosciences Stock Up 3.6 %

Shares of NASDAQ CSTL opened at $30.57 on Wednesday. The company has a market cap of $856.27 million, a P/E ratio of 152.86 and a beta of 0.99. The firm has a 50-day simple moving average of $30.94 and a two-hundred day simple moving average of $26.58. Castle Biosciences, Inc. has a 1 year low of $16.97 and a 1 year high of $35.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.14. The firm had revenue of $85.78 million during the quarter, compared to analyst estimates of $78.55 million. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. During the same period last year, the company earned ($0.26) EPS. Research analysts anticipate that Castle Biosciences, Inc. will post -0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, insider Tobin W. Juvenal sold 3,507 shares of Castle Biosciences stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $35.56, for a total transaction of $124,708.92. Following the completion of the sale, the insider now owns 54,178 shares of the company’s stock, valued at approximately $1,926,569.68. The trade was a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Derek J. Maetzold sold 986 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $28.73, for a total value of $28,327.78. Following the completion of the sale, the insider now owns 94,622 shares of the company’s stock, valued at $2,718,490.06. The trade was a 1.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,213 shares of company stock valued at $752,673. 7.20% of the stock is currently owned by company insiders.

Castle Biosciences Company 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.