Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 331,727 Castle Biosciences, Inc. $CSTL

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 331,727 shares of the company’s stock, valued at approximately $7,912,000.

Several other hedge funds have also made changes to their positions in CSTL. Global Retirement Partners LLC purchased a new stake in shares of Castle Biosciences in the second quarter valued at $26,000. Federated Hermes Inc. purchased a new position in Castle Biosciences during the fourth quarter worth about $26,000. Kemnay Advisory Services Inc. purchased a new position in Castle Biosciences during the fourth quarter worth about $35,000. Jones Financial Companies Lllp boosted its stake in Castle Biosciences by 10,592.0% in the 1st quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company’s stock worth $54,000 after buying an additional 2,648 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Castle Biosciences by 26.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,418 shares of the company’s stock worth $55,000 after buying an additional 297 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CSTL. Robert W. Baird set a $36.00 target price on shares of Castle Biosciences in a research report on Friday, July 31st. Weiss Ratings raised shares of Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. Zacks Research lowered shares of Castle Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. BTIG Research boosted their price objective on shares of Castle Biosciences from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, Roth Capital began coverage on Castle Biosciences in a report on Wednesday, June 24th. They set a “buy” rating and a $40.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Insiders Place Their Bets

In other news, insider Derek J. Maetzold sold 2,546 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $30.68, for a total value of $78,111.28. Following the completion of the sale, the insider owned 21,479 shares of the company’s stock, valued at $658,975.72. This represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kristen M. Oelschlager sold 12,384 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $34.42, for a total transaction of $426,257.28. Following the completion of the sale, the chief operating officer directly owned 72,649 shares of the company’s stock, valued at $2,500,578.58. The trade was a 14.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 160,907 shares of company stock worth $4,679,596 over the last ninety days. 6.10% of the stock is owned by company insiders.

Castle Biosciences Stock Performance

NASDAQ CSTL opened at $34.08 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.04 and a quick ratio of 5.85. Castle Biosciences, Inc. has a 1-year low of $17.72 and a 1-year high of $44.28. The firm has a market capitalization of $1.04 billion, a P/E ratio of -51.64 and a beta of 0.98. The business’s 50-day simple moving average is $26.73 and its 200-day simple moving average is $25.41.

Castle Biosciences (NASDAQ:CSTL) last posted its earnings results on Thursday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.34. Castle Biosciences had a negative net margin of 5.43% and a negative return on equity of 4.15%. The firm had revenue of $99.86 million during the quarter, compared to the consensus estimate of $86.23 million. Equities analysts predict that Castle Biosciences, Inc. will post -1.29 EPS for the current year.

Castle Biosciences Profile

Castle Biosciences, Inc is a molecular diagnostics company specializing in the development and commercialization of prognostic and diagnostic tests for patients with dermatologic conditions. The company’s proprietary portfolio of genomic assays is designed to improve risk assessment and guide clinical decision-making for individuals with skin cancers and other skin-related diseases. By combining genomic data with advanced statistical algorithms, Castle Biosciences seeks to provide actionable insights that help physicians tailor treatment plans and monitoring strategies.

The company’s flagship test, DecisionDx-Melanoma, evaluates the probability of metastasis in patients diagnosed with cutaneous melanoma, supporting more personalized surveillance and therapeutic approaches.