Hussman Strategic Advisors Inc. Makes New $1.96 Million Investment in Castle Biosciences, Inc. (NASDAQ:CSTL)

Hussman Strategic Advisors Inc. bought a new position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 73,500 shares of the company’s stock, valued at approximately $1,959,000.

Other institutional investors have also recently bought and sold shares of the company. R Squared Ltd bought a new position in shares of Castle Biosciences during the fourth quarter worth $42,000. Quest Partners LLC boosted its position in shares of Castle Biosciences by 54.4% during the third quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock worth $123,000 after purchasing an additional 1,522 shares in the last quarter. US Bancorp DE boosted its position in shares of Castle Biosciences by 1,889.2% during the third quarter. US Bancorp DE now owns 4,615 shares of the company’s stock worth $132,000 after purchasing an additional 4,383 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Castle Biosciences during the third quarter worth $140,000. Finally, Assetmark Inc. boosted its position in shares of Castle Biosciences by 16.8% during the third quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock worth $149,000 after purchasing an additional 748 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Castle Biosciences Stock Up 1.8 %

Castle Biosciences stock opened at $27.19 on Thursday. The firm has a market capitalization of $761.59 million, a PE ratio of 135.96 and a beta of 0.91. The company’s 50-day moving average is $27.65 and its 200-day moving average is $29.22. Castle Biosciences, Inc. has a fifty-two week low of $16.97 and a fifty-two week high of $35.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Scotiabank lifted their price target on shares of Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 6th. Lake Street Capital boosted their price objective on shares of Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. KeyCorp boosted their price objective on shares of Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. 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. Finally, Canaccord Genuity Group lifted their price target on shares of Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $40.29.

Insider Transactions at Castle Biosciences

In related news, Director Daniel Bradbury sold 7,867 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $28.17, for a total value of $221,613.39. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Derek J. Maetzold sold 9,364 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $28.34, for a total transaction of $265,375.76. Following the completion of the transaction, the insider now owns 84,762 shares in the company, valued at approximately $2,402,155.08. This trade represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,771 shares of company stock worth $886,112 in the last ninety days. 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.