Envestnet Asset Management Inc. Purchases 22,569 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

Envestnet Asset Management Inc. raised its position in Castle Biosciences, Inc. (NASDAQ:CSTL) by 287.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,422 shares of the company’s stock after buying an additional 22,569 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Castle Biosciences were worth $2,231,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. ARK Investment Management LLC increased its holdings in Castle Biosciences by 25.6% in the 1st quarter. ARK Investment Management LLC now owns 2,597,288 shares of the company’s stock valued at $177,810,000 after buying an additional 528,696 shares during the period. Wasatch Advisors Inc. increased its holdings in Castle Biosciences by 14.0% in the 1st quarter. Wasatch Advisors Inc. now owns 2,353,479 shares of the company’s stock valued at $161,119,000 after buying an additional 288,648 shares during the period. BlackRock Inc. increased its holdings in Castle Biosciences by 19.5% in the 1st quarter. BlackRock Inc. now owns 1,363,836 shares of the company’s stock valued at $93,369,000 after buying an additional 222,089 shares during the period. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Castle Biosciences in the 2nd quarter valued at about $32,640,000. Finally, Goldman Sachs Group Inc. increased its holdings in Castle Biosciences by 11.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 404,134 shares of the company’s stock valued at $27,667,000 after buying an additional 41,869 shares during the period. 82.55% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently issued reports on the stock. Canaccord Genuity lifted their price target on shares of Castle Biosciences from $47.00 to $52.00 and gave the company a “buy” rating in a report on Friday, September 3rd. SVB Leerink lifted their price target on shares of Castle Biosciences from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, July 14th. Robert W. Baird lifted their price target on shares of Castle Biosciences from $73.00 to $78.00 and gave the company an “outperform” rating in a report on Tuesday, August 10th. Finally, Zacks Investment Research lowered shares of Castle Biosciences from a “hold” rating to a “sell” rating in a report on Tuesday, August 10th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $77.14.

NASDAQ:CSTL opened at $77.32 on Friday. The firm’s 50 day simple moving average is $70.27 and its 200 day simple moving average is $67.71. Castle Biosciences, Inc. has a one year low of $43.37 and a one year high of $107.69. The company has a market cap of $1.95 billion, a PE ratio of -78.90 and a beta of 0.42.

Castle Biosciences (NASDAQ:CSTL) last posted its earnings results on Sunday, August 8th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.05). Castle Biosciences had a negative return on equity of 5.90% and a negative net margin of 28.88%. On average, equities analysts predict that Castle Biosciences, Inc. will post -1.23 earnings per share for the current fiscal year.

In related news, insider Derek J. Maetzold sold 4,020 shares of the business’s stock in a transaction on Tuesday, August 3rd. The shares were sold at an average price of $70.35, for a total transaction of $282,807.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Derek J. Maetzold sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 22nd. The shares were sold at an average price of $74.56, for a total transaction of $745,600.00. Following the sale, the insider now owns 491,005 shares of the company’s stock, valued at approximately $36,609,332.80. The disclosure for this sale can be found here. Insiders sold a total of 123,908 shares of company stock worth $8,776,701 in the last 90 days. Corporate insiders own 39.70% of the company’s stock.

Castle Biosciences Company Profile

Castle Biosciences, Inc is a commercial-stage dermatological cancer company, which engages in the provision of genomic information for physicians and patients. The firm offers DecisionDx-Melanoma, a proprietary multi-gene expression profile (GEP) test that predicts the risk of metastasis and recurrence for patients diagnosed with invasive cutaneous melanoma.

See Also: What is the CBOE Russell 2000® Volatility Index?

Want to see what other hedge funds are holding CSTL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Castle Biosciences, Inc. (NASDAQ:CSTL).

Institutional Ownership by Quarter for Castle Biosciences (NASDAQ:CSTL)

Receive News & Ratings for Castle Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Castle Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.