Castle Biosciences, Inc. $CSTL Shares Sold by Summit Global Investments

Summit Global Investments lowered its holdings in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 48.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,649 shares of the company’s stock after selling 14,991 shares during the period. Summit Global Investments’ holdings in Castle Biosciences were worth $320,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Castle Biosciences by 11.7% in the first quarter. Vanguard Group Inc. now owns 2,047,565 shares of the company’s stock worth $40,992,000 after acquiring an additional 215,030 shares in the last quarter. Wellington Management Group LLP grew its stake in Castle Biosciences by 14.7% in the first quarter. Wellington Management Group LLP now owns 828,528 shares of the company’s stock valued at $16,587,000 after purchasing an additional 106,408 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in Castle Biosciences by 11.6% in the second quarter. Allianz Asset Management GmbH now owns 713,742 shares of the company’s stock valued at $14,575,000 after acquiring an additional 74,265 shares during the last quarter. Geode Capital Management LLC increased its position in Castle Biosciences by 6.2% during the second quarter. Geode Capital Management LLC now owns 689,926 shares of the company’s stock worth $14,090,000 after buying an additional 40,073 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Castle Biosciences by 65.4% in the 1st quarter. Acadian Asset Management LLC now owns 676,066 shares of the company’s stock valued at $13,527,000 after acquiring an additional 267,416 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Zacks Research upgraded shares of Castle Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Robert W. Baird boosted their price target on shares of Castle Biosciences from $39.00 to $41.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Wall Street Zen upgraded Castle Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, August 10th. Canaccord Genuity Group restated a “buy” rating and issued a $37.00 price objective on shares of Castle Biosciences in a research report on Tuesday, September 9th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Castle Biosciences in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.43.

Castle Biosciences Trading Up 0.0%

CSTL stock opened at $39.94 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.31 and a current ratio of 6.47. Castle Biosciences, Inc. has a 52 week low of $14.59 and a 52 week high of $40.51. The company’s 50-day simple moving average is $27.40 and its 200 day simple moving average is $21.95. The company has a market capitalization of $1.17 billion, a PE ratio of -88.76 and a beta of 1.12.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.32. The business had revenue of $80.55 million during the quarter, compared to the consensus estimate of $71.06 million. Castle Biosciences had a positive return on equity of 1.73% and a negative net margin of 3.56%. Castle Biosciences has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Castle Biosciences, Inc. will post 0.44 earnings per share for the current year.

Insider Activity at Castle Biosciences

In other news, insider Derek J. Maetzold sold 6,695 shares of the business’s 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 completion of the sale, the insider owned 56,293 shares in the company, valued at $1,713,558.92. The trade was a 10.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Kristen M. Oelschlager sold 12,678 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $25.04, for a total value of $317,457.12. Following the sale, the chief operating officer owned 27,569 shares of the company’s stock, valued at $690,327.76. This trade represents a 31.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 34,537 shares of company stock worth $1,037,845 in the last quarter. Company insiders own 6.50% of the company’s stock.

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.