Birchview Capital LP Purchases 22,196 Shares of Castle Biosciences, Inc. $CSTL

Birchview Capital LP boosted its position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 25.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,600 shares of the company’s stock after acquiring an additional 22,196 shares during the period. Castle Biosciences accounts for 2.2% of Birchview Capital LP’s investment portfolio, making the stock its 12th biggest holding. Birchview Capital LP’s holdings in Castle Biosciences were worth $2,258,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its stake in shares of Castle Biosciences by 10,592.0% in the first quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company’s stock worth $54,000 after purchasing an additional 2,648 shares during the period. Amundi boosted its stake in Castle Biosciences by 15,811.5% during the 1st quarter. Amundi now owns 4,137 shares of the company’s stock valued at $79,000 after purchasing an additional 4,111 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in Castle Biosciences in the 2nd quarter valued at approximately $171,000. The Manufacturers Life Insurance Company bought a new position in Castle Biosciences in the 2nd quarter worth approximately $211,000. Finally, Magnetar Financial LLC bought a new position in Castle Biosciences in the 1st quarter worth approximately $225,000. 92.60% of the stock is owned by institutional investors and hedge funds.

Castle Biosciences Trading Up 1.7%

Shares of Castle Biosciences stock opened at $38.63 on Friday. Castle Biosciences, Inc. has a 52-week low of $14.59 and a 52-week high of $40.61. The firm has a market capitalization of $1.13 billion, a PE ratio of -85.84 and a beta of 1.14. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.47 and a quick ratio of 6.31. The company’s fifty day moving average price is $31.21 and its two-hundred day moving average price is $23.79.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.32. Castle Biosciences had a negative net margin of 3.56% and a positive return on equity of 1.73%. The company had revenue of $80.55 million during the quarter, compared to the consensus estimate of $71.06 million. On average, analysts expect that Castle Biosciences, Inc. will post 0.44 EPS for the current year.

Insiders Place Their Bets

In other Castle Biosciences news, insider Derek J. Maetzold sold 6,695 shares of Castle Biosciences stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $30.44, for a total transaction of $203,795.80. Following the sale, the insider directly owned 56,293 shares of the company’s stock, valued at approximately $1,713,558.92. The trade was a 10.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Kristen M. Oelschlager sold 12,678 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $25.04, for a total value of $317,457.12. Following the completion of the sale, the chief operating officer owned 27,569 shares in the company, valued at approximately $690,327.76. This represents a 31.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 35,876 shares of company stock worth $1,091,445 over the last quarter. Company insiders own 6.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CSTL. Weiss Ratings reissued a “sell (d)” rating on shares of Castle Biosciences in a research report on Monday. Zacks Research upgraded shares of Castle Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. BTIG Research increased their price target on shares of Castle Biosciences from $38.00 to $50.00 and gave the company a “buy” rating in a report on Friday. Robert W. Baird raised their price target on shares of Castle Biosciences from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $37.00 price objective on shares of Castle Biosciences in a report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Castle Biosciences has an average rating of “Moderate Buy” and a consensus price target of $39.14.

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.