Kornitzer Capital Management Inc. KS Has $11.72 Million Stock Holdings in Castle Biosciences, Inc. (NASDAQ:CSTL)

Kornitzer Capital Management Inc. KS cut its stake in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 16.3% during the fourth quarter, Holdings Channel reports. The firm owned 542,874 shares of the company’s stock after selling 105,350 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Castle Biosciences were worth $11,715,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CSTL. Lazard Asset Management LLC acquired a new position in Castle Biosciences during the first quarter valued at $57,000. BluePath Capital Management LLC acquired a new position in Castle Biosciences during the third quarter valued at $31,000. Tower Research Capital LLC TRC raised 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 valued at $47,000 after buying an additional 691 shares during the period. Royal Bank of Canada raised 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 valued at $39,000 after buying an additional 830 shares during the period. Finally, Ensign Peak Advisors Inc raised its position in Castle Biosciences by 247.2% during the third quarter. Ensign Peak Advisors Inc now owns 3,090 shares of the company’s stock valued at $81,000 after buying an additional 2,200 shares during the period. 92.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Castle Biosciences

In other news, insider Derek J. Maetzold sold 4,131 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $21.41, for a total transaction of $88,444.71. Following the completion of the sale, the insider now owns 74,473 shares in the company, valued at approximately $1,594,466.93. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Daniel Bradbury sold 23,323 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was 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 owns 25,907 shares in the company, valued at approximately $535,756.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Derek J. Maetzold sold 4,131 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $21.41, for a total value of $88,444.71. Following the transaction, the insider now directly 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. In the last quarter, insiders sold 50,062 shares of company stock worth $1,051,065. 7.70% of the stock is owned by corporate insiders.

Castle Biosciences Stock Performance

NASDAQ CSTL traded up $0.11 on Friday, reaching $19.31. The stock had a trading volume of 129,601 shares, compared to its average volume of 153,253. The business has a 50 day moving average price of $21.53 and a 200 day moving average price of $19.84. Castle Biosciences, Inc. has a 1 year low of $9.26 and a 1 year high of $26.70.

Castle Biosciences (NASDAQ:CSTL) last issued its earnings results on Wednesday, February 28th. The company reported ($0.10) 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 firm had revenue of $66.12 million for the quarter, compared to the consensus estimate of $51.32 million. Analysts anticipate that Castle Biosciences, Inc. will post -2.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Scotiabank upped their price target on Castle Biosciences from $33.00 to $37.00 and gave the company 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 company an “overweight” rating in a research report 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.