Kornitzer Capital Management Inc. KS Trims Stock Holdings in Castle Biosciences, Inc. (NASDAQ:CSTL)

Kornitzer Capital Management Inc. KS reduced its stake in Castle Biosciences, Inc. (NASDAQ:CSTL) by 16.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 542,874 shares of the company’s stock after selling 105,350 shares during the quarter. Kornitzer Capital Management Inc. KS owned about 2.02% of Castle Biosciences worth $11,715,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CSTL. BluePath Capital Management LLC purchased a new position in Castle Biosciences during the third quarter worth about $31,000. Royal Bank of Canada lifted its position in Castle Biosciences by 40.5% during the second quarter. Royal Bank of Canada now owns 2,880 shares of the company’s stock worth $39,000 after buying an additional 830 shares during the period. Tower Research Capital LLC TRC lifted its position in Castle Biosciences by 61.2% during the third quarter. Tower Research Capital LLC TRC now owns 1,821 shares of the company’s stock worth $47,000 after buying an additional 691 shares during the period. Osaic Holdings Inc. lifted its position in Castle Biosciences by 37.2% during the second quarter. Osaic Holdings Inc. now owns 3,626 shares of the company’s stock worth $50,000 after buying an additional 984 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in Castle Biosciences during the first quarter worth about $57,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Derek J. Maetzold sold 1,947 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $20.35, for a total value of $39,621.45. Following the completion of the sale, the insider now owns 65,418 shares in the company, valued at $1,331,256.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Castle Biosciences news, insider Derek J. Maetzold sold 1,947 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $20.35, for a total transaction of $39,621.45. Following the completion of the sale, the insider now owns 65,418 shares in the company, valued at approximately $1,331,256.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Derek J. Maetzold sold 4,131 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $21.41, for a total value of $88,444.71. Following the sale, the insider now owns 74,473 shares of the company’s stock, valued at approximately $1,594,466.93. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,062 shares of company stock worth $1,051,065. 7.70% of the stock is currently owned by corporate insiders.

Castle Biosciences Stock Performance

NASDAQ:CSTL traded up $0.11 on Friday, hitting $19.31. 129,601 shares of the stock were exchanged, compared to its average volume of 153,253. The stock has a fifty day moving average of $21.53 and a 200-day moving average of $19.84. Castle Biosciences, Inc. has a fifty-two week low of $9.26 and a fifty-two week high of $26.70.

Castle Biosciences (NASDAQ:CSTL) last posted its earnings results on Wednesday, February 28th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.74. Castle Biosciences had a negative return on equity of 14.92% and a negative net margin of 26.15%. The business had revenue of $66.12 million during the quarter, compared to analyst estimates of $51.32 million. As a group, research analysts forecast that Castle Biosciences, Inc. will post -2.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

CSTL has been the topic of several recent analyst reports. Scotiabank increased their target price on Castle Biosciences from $33.00 to $37.00 and gave the stock a “sector outperform” rating in a research report on Friday, March 1st. KeyCorp upped their price target on Castle Biosciences from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st.

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.