WuXi AppTec Co. Ltd. Makes New $143,000 Investment in Castle Biosciences, Inc. (NASDAQ:CSTL)

WuXi AppTec Co. Ltd. purchased a new stake in Castle Biosciences, Inc. (NASDAQ:CSTL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,636 shares of the company’s stock, valued at approximately $143,000. Castle Biosciences makes up approximately 0.4% of WuXi AppTec Co. Ltd.’s investment portfolio, making the stock its 5th largest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Deerfield Management Company L.P. Series C acquired a new position in shares of Castle Biosciences in the third quarter worth approximately $15,988,000. Jacobs Levy Equity Management Inc. increased its position in shares of Castle Biosciences by 112.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 547,403 shares of the company’s stock worth $9,246,000 after buying an additional 289,252 shares during the period. Walleye Capital LLC bought a new position in Castle Biosciences during the third quarter worth $2,885,000. Principal Financial Group Inc. raised its stake in Castle Biosciences by 9.0% during the third quarter. Principal Financial Group Inc. now owns 1,482,170 shares of the company’s stock worth $25,034,000 after buying an additional 122,169 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in Castle Biosciences by 294.4% in the third quarter. Schonfeld Strategic Advisors LLC now owns 148,030 shares of the company’s stock valued at $2,500,000 after buying an additional 110,500 shares during the period. 92.60% of the stock is owned by institutional investors.

Castle Biosciences Trading Down 1.1 %

Shares of NASDAQ:CSTL traded down $0.26 on Wednesday, hitting $23.54. The company had a trading volume of 267,431 shares, compared to its average volume of 241,626. The firm has a market capitalization of $649.94 million, a price-to-earnings ratio of -20.47 and a beta of 0.93. The company has a quick ratio of 9.02, a current ratio of 9.25 and a debt-to-equity ratio of 0.02. The firm’s 50-day simple moving average is $20.83 and its two-hundred day simple moving average is $20.59. Castle Biosciences, Inc. has a 1 year low of $9.26 and a 1 year high of $26.70.

Castle Biosciences (NASDAQ:CSTL) last posted its earnings results on Wednesday, February 28th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.74. Castle Biosciences had a negative return on equity of 7.91% and a negative net margin of 12.28%. The business had revenue of $66.12 million during the quarter, compared to analyst estimates of $51.32 million. Equities analysts anticipate that Castle Biosciences, Inc. will post -2.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CSTL has been the subject of several recent analyst reports. KeyCorp raised their target price on Castle Biosciences from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Scotiabank lifted their price objective on shares of Castle Biosciences from $33.00 to $37.00 and gave the company a “sector outperform” rating in a research note on Friday, March 1st. Finally, Robert W. Baird increased their target price on shares of Castle Biosciences from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd.

Insider Transactions at Castle Biosciences

In related news, insider Derek J. Maetzold sold 2,368 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $24.72, for a total transaction of $58,536.96. Following the completion of the transaction, the insider now directly owns 62,629 shares in the company, valued at $1,548,188.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Derek J. Maetzold sold 2,368 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $24.72, for a total value of $58,536.96. Following the completion of the sale, the insider now directly owns 62,629 shares in the company, valued at $1,548,188.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel Bradbury sold 23,323 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $20.68, for a total transaction of $482,319.64. Following the completion of the sale, the director now directly owns 25,907 shares of the company’s stock, valued at approximately $535,756.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,100 shares of company stock worth $1,644,630. 7.20% of the stock is currently owned by 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.