Advisors Capital Management LLC Buys 11,008 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

Advisors Capital Management LLC lifted its position in Castle Biosciences, Inc. (NASDAQ:CSTL) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,935 shares of the company’s stock after acquiring an additional 11,008 shares during the quarter. Advisors Capital Management LLC owned approximately 0.64% of Castle Biosciences worth $4,769,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CSTL. Vanguard Group Inc. boosted its holdings in Castle Biosciences by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 1,832,535 shares of the company’s stock worth $48,837,000 after purchasing an additional 83,783 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Castle Biosciences by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company’s stock worth $43,879,000 after buying an additional 40,377 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Castle Biosciences in the fourth quarter valued at approximately $19,244,000. Renaissance Technologies LLC grew its holdings in shares of Castle Biosciences by 39.9% in the fourth quarter. Renaissance Technologies LLC now owns 685,000 shares of the company’s stock valued at $18,255,000 after acquiring an additional 195,438 shares in the last quarter. Finally, State Street Corp increased its position in shares of Castle Biosciences by 9.8% during the third quarter. State Street Corp now owns 680,001 shares of the company’s stock valued at $19,394,000 after acquiring an additional 60,924 shares during the last quarter. Institutional investors own 92.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CSTL. Guggenheim set a $30.00 price objective on Castle Biosciences and gave the company a “buy” rating in a research note on Friday, March 28th. Robert W. Baird increased their price target on shares of Castle Biosciences from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Finally, Stephens reaffirmed an “overweight” rating and issued a $41.00 price objective on shares of Castle Biosciences in a research report on Thursday, January 2nd. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Castle Biosciences currently has a consensus rating of “Buy” and a consensus target price of $38.75.

Castle Biosciences Price Performance

CSTL opened at $19.70 on Monday. The company has a market capitalization of $568.13 million, a price-to-earnings ratio of 98.50 and a beta of 1.11. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average price of $22.34 and a 200-day moving average price of $27.09. Castle Biosciences, Inc. has a twelve month low of $16.97 and a twelve month high of $35.84.

Insider Activity at Castle Biosciences

In related news, Director Daniel Bradbury sold 7,867 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $28.17, for a total transaction of $221,613.39. 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 22,639 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $20.12, for a total transaction of $455,496.68. Following the sale, the insider now directly owns 80,465 shares in the company, valued at $1,618,955.80. This trade represents a 21.96 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,085 shares of company stock worth $748,045. Corporate insiders own 7.20% of the company’s stock.

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.