Summit Global Investments Lowers Stake in Castle Biosciences, Inc. $CSTL

Summit Global Investments trimmed its holdings in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 48.9% during the 2nd quarter, according to the company in 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 owned about 0.05% of Castle Biosciences worth $320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Harbour Investments Inc. purchased a new position in Castle Biosciences in the first quarter worth $50,000. Jones Financial Companies Lllp grew its position in Castle Biosciences by 10,592.0% during the 1st quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company’s stock worth $54,000 after purchasing an additional 2,648 shares during the last quarter. Amundi grew its holdings in shares of Castle Biosciences by 15,811.5% during the first quarter. Amundi now owns 4,137 shares of the company’s stock valued at $79,000 after buying an additional 4,111 shares during the last quarter. CWM LLC increased its position in shares of Castle Biosciences by 835.0% in the 1st quarter. CWM LLC now owns 4,142 shares of the company’s stock valued at $83,000 after acquiring an additional 3,699 shares during the period. Finally, Magnetar Financial LLC acquired a new position in shares of Castle Biosciences in the 1st quarter valued at $225,000. Institutional investors own 92.60% of the company’s stock.

Castle Biosciences Trading Up 0.0%

CSTL opened at $39.94 on Thursday. The company has a quick ratio of 6.31, a current ratio of 6.47 and a debt-to-equity ratio of 0.02. The firm has a market cap of $1.17 billion, a P/E ratio of -88.76 and a beta of 1.12. Castle Biosciences, Inc. has a 52 week low of $14.59 and a 52 week high of $40.51. The business has a fifty day simple moving average of $27.40 and a 200-day simple moving average of $21.95.

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

Analyst Ratings Changes

Several brokerages recently issued reports on CSTL. Weiss Ratings reissued a “sell (d)” rating on shares of Castle Biosciences in a report on Tuesday. BTIG Research boosted their price objective on Castle Biosciences from $32.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Robert W. Baird raised their target price on Castle Biosciences from $39.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Canaccord Genuity Group reiterated a “buy” rating and set a $37.00 price target on shares of Castle Biosciences in a research report on Tuesday, September 9th. Finally, Wall Street Zen upgraded Castle Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Castle Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $37.43.

Insider Buying and Selling at Castle Biosciences

In other Castle Biosciences news, insider Tobin W. Juvenal sold 4,693 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $35.58, for a total value of $166,976.94. Following the sale, the insider directly owned 84,595 shares of the company’s stock, valued at approximately $3,009,890.10. This trade represents a 5.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Derek J. Maetzold sold 5,115 shares of Castle Biosciences stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $40.05, for a total transaction of $204,855.75. Following the completion of the transaction, the insider owned 45,822 shares in the company, valued at approximately $1,835,171.10. This trade represents a 10.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 34,537 shares of company stock valued at $1,037,845 over the last quarter. Corporate 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.