During the third quarter, Kornitzer Capital Management Inc. (KS) cut its holdings in Castle Biosciences, Inc. (NASDAQ: CSTL) by 2.7%, as stated in the most recent 13F disclosure that the company filed with the SEC. After making a transaction during the most recent quarter that resulted in the sale of 17,316 shares, the institutional investor now has a total holding in the company that amounts to 624,196 shares. Kornitzer Capital Management Inc. disclosed to the Securities and Exchange Commission (SEC) in its most recent filing that it held 2.37% of Castle Biosciences, which had a market value of $16,279,000 at the time of the disclosure.
In recent years, a change within CSTL has affected the holdings of several other hedge funds. During the second quarter, American International Group Inc. brought the total amount of Castle Biosciences stock it owned to 5.2% higher than before. After acquiring 552 shares during the preceding quarter, American International Group Inc. now holds 11,130 shares of the company’s stock. Given the stock’s current price, this represents a total value of $244,000 for the company. By purchasing additional Castle Biosciences shares in the second quarter, Rice Hall James & Associates LLC was able to raise the percentage of the company’s stock that they owned by 2.3%. During the most recent quarter, Rice Hall James & Associates LLC increased its stake in the company by 599 shares, bringing its total number of shares owned to 26,750, with a market value of $587,000. Baird Financial Group Inc. increased the amount of Castle Biosciences stock owned by 4.9% during the year’s first three months. After purchasing an additional 674 shares during the relevant period, Baird Financial Group Inc. now directly owns 14,349 shares of the company’s stock, which have a value of $644,000. This brings the total number of shares directly owned by the company to 14,349; during the first three months of the year, JPMorgan Chase & Co. increased the percentage of Castle Biosciences stock that is owned by 3.2%. After purchasing 754 additional shares during the relevant period, JPMorgan Chase & Co. now has 24,324 shares of the company’s stock, giving it a market value of $1,091,000. During the relevant period, these shares were acquired. And finally, during the second quarter of 2018, Credit Suisse AG increased its holdings in Castle Biosciences by purchasing an additional 5.4% of its shares. Credit Suisse AG is now the owner of the company’s stock, which has a value of $345,000. This was accomplished by purchasing an additional 799 shares throughout the period. The vast majority of the company’s stock is owned by institutional investors and hedge funds, which account for 82.43% of the total.
According to reports, on January 3, 2019, an employee of Castle Biosciences named Derek J. Maetzold sold 3,833 shares of the company’s stock. This information was disclosed in the news that was connected to the event. The number of shares was acquired for a total cost of 87,775.70 dollars, which works out to an average price of $22.90 per share. Currently, 301,529 shares of the company are owned directly by individuals working within the company. This number of shares is worth a total of 6,905,014.10 dollars. Follow the link, which will take you to a filing submitted to the Securities and Exchange Commission. You will have the opportunity to acquire additional information regarding the transaction. According to reports from other news outlets, on January 3, 2019, a company insider named Derek J. Maetzold sold 3,833 shares of the company’s stock. A total of 87,775.70 dollars was spent on the purchase of the stock, which resulted in an average price of $22.90 per share paid for the transaction. After the completion of the sale, the corporate insider has a total ownership stake in the company that is equal to 301,529 shares and is currently valued at $6,905,014.10. The documentation that describes the transaction was submitted to the Securities and Exchange Commission, and it is possible to locate it on the SEC’s website. It was disclosed in the news that it was connected to the event. The number of shares was acquired for a total cost of 87,775.70 dollars, which works out to an average price of $22.90 per share. Currently, 301,529 shares of the company are owned directly by individuals working within the company. This number of shares is worth a total of 6,905,014.10 dollars. Follow the link, which will take you to a filing submitted to the Securities and Exchange Commission. You will have the opportunity to acquire additional information regarding the transaction. According to reports from other news outlets, on January 3, 2019, a company insider named Derek J. Maetzold sold 3,833 shares of the company’s stock. A total of 87,775.70 dollars was spent on the purchase of the stock, which resulted in an average price of $22.90 per share paid for the transaction. After the completion of the sale, the corporate insider has a total ownership stake in the company that is equal to 301,529 shares and is currently valued at $6,905,014.10. The documentation that describes the transaction was submitted to the Securities and Exchange Commission, and it is possible to locate it on the SEC’s website. In addition, on October 24, an employee of the company named Derek J. Maetzold sold 3,483 shares of the company’s stock. Following the sale of the stock at an average price of $20.41 per share, the total value of the transaction comes to 71,088.03 dollars. The transaction resulted in the company insider gaining direct ownership of 296 572 shares of the company’s stock, which have a value of approximately 6,053,034.52 dollars. Disclosures that are related to the sale might be found in this section of the website. Over the past three months, company insiders have sold 25,555 shares of company stock and generated a total profit of $578,446 through the sale of those shares. Corporate insiders currently hold an equity stake in the company equivalent to 7.30 percent of the total equity.
Studies conducted by research analysts have frequently mentioned CSTL as a topic of discussion. Robert W. Baird rated the company as “outperforming” in a research note published on November 3. The firm lowered its target price for Castle Biosciences from $49.00 to $41.00 during the same period. In addition to that, they gave the business an “outperform” rating. The first day that Scotiabank discussed Castle Biosciences as a topic in one of its research reports was January 4, 2013. The stock was given the rating of “sector outperform,” and the analysts predicted that the stock’s price would reach $54.00 within the next month. Five financial analysts all concluded that it would be beneficial to purchase the stock. Castle Biosciences is presently rated as having an average “buy” rating, and Bloomberg reports that the company’s current consensus price objective is 57.14 dollars.
During trading on Friday, the price of a share of CSTL rose by $0.88, bringing its total to $27.07. The total trading volume for the company’s stock amounted to 143,927 shares, with 1,515 of those shares changing hands. The stock carries a price-to-earnings ratio of -12.78 and a beta value of 1.00. The market capitalization of the company is calculated to be $713.35 million. During the last year, Castle Biosciences, Inc. has traded at a range of prices, with $15.58 representing its all-time low and $48.08 representing its all-time high. The company has had a simple moving average of 23.42 dollars over the past fifty days and a simple moving average of 25.53 dollars over the past two hundred days.
Castle Biosciences (NASDAQ: CSTL) discussed the company’s quarterly revenue and earnings in its most recent earnings report, which was released on November 2 and can be found here. The company announced a loss for the period of $0.77 per share, which was $0.07 less than the consensus estimate of $0.70 per share. The return on equity and net margin for Castle Biosciences were both negative. The company’s net margin was also negative. Both the return on equity and the net margin were below 10%. The return on equity was -11.87%. It was projected that the company would have sales of $34.36 million for the quarter, but they came in at $37.01 million, a significant increase over the prediction. Analysts who work for equity research companies predicted that Castle Biosciences, Inc. would experience a loss of 2.92 cents per share during the current fiscal year.
Most of Castle Biosciences, Inc.’s efforts are concentrated on providing diagnostic and prognostic testing services for dermatological cancer. The company is currently in the commercial stage of its development as a diagnostics provider. The business’s primary offering is called DecisionDx-Melanoma, and it is a multi-gene expression profile (GEP) test. This test is administered to patients with invasive cutaneous melanoma, whose purpose is to determine the likelihood of metastasis in those patients.
