Allianz Asset Management GmbH Has $12.80 Million Stock Holdings in Castle Biosciences, Inc. (NASDAQ:CSTL)

Allianz Asset Management GmbH increased its holdings in Castle Biosciences, Inc. (NASDAQ:CSTL) by 98.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 639,477 shares of the company’s stock after purchasing an additional 317,103 shares during the period. Allianz Asset Management GmbH’s holdings in Castle Biosciences were worth $12,802,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Castle Biosciences by 4.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,786 shares of the company’s stock worth $394,000 after buying an additional 608 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Castle Biosciences by 2.3% during the fourth quarter. Invesco Ltd. now owns 27,534 shares of the company’s stock worth $734,000 after buying an additional 616 shares in the last quarter. Diversify Wealth Management LLC increased its holdings in shares of Castle Biosciences by 5.8% during the first quarter. Diversify Wealth Management LLC now owns 13,102 shares of the company’s stock worth $260,000 after buying an additional 717 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Castle Biosciences by 9.6% during the first quarter. Teacher Retirement System of Texas now owns 10,383 shares of the company’s stock worth $208,000 after buying an additional 908 shares in the last quarter. Finally, Covestor Ltd acquired a new stake in shares of Castle Biosciences during the fourth quarter worth approximately $25,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Castle Biosciences Stock Performance

Shares of Castle Biosciences stock opened at $16.07 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.37 and a quick ratio of 9.19. The firm has a market cap of $463.97 million, a P/E ratio of -84.58 and a beta of 1.10. The firm has a 50 day simple moving average of $18.06 and a 200 day simple moving average of $21.02. Castle Biosciences, Inc. has a fifty-two week low of $15.45 and a fifty-two week high of $35.84.

Castle Biosciences (NASDAQ:CSTL) last released its earnings results on Monday, May 5th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.12). Castle Biosciences had a positive return on equity of 3.41% and a negative net margin of 1.46%. The business had revenue of $87.99 million for the quarter, compared to analyst estimates of $80.40 million. Sell-side analysts predict that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CSTL shares. Guggenheim set a $30.00 price objective on shares of Castle Biosciences and gave the stock a “buy” rating in a report on Friday, March 28th. Scotiabank dropped 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 report on Wednesday, May 21st. Lake Street Capital decreased their price target on shares of Castle Biosciences from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Finally, Canaccord Genuity Group lowered their price target on shares of Castle Biosciences from $42.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company 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.