Man Group plc Invests $2.59 Million in Castle Biosciences, Inc. $CSTL

Man Group plc acquired a new position in Castle Biosciences, Inc. (NASDAQ:CSTL) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 108,761 shares of the company’s stock, valued at approximately $2,594,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Federated Hermes Inc. acquired a new stake in Castle Biosciences during the 4th quarter valued at approximately $26,000. Kemnay Advisory Services Inc. acquired a new position in shares of Castle Biosciences in the 4th quarter worth approximately $35,000. Global Retirement Partners LLC bought a new stake in shares of Castle Biosciences in the 2nd quarter valued at $26,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Castle Biosciences by 140.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,750 shares of the company’s stock valued at $68,000 after purchasing an additional 1,022 shares during the last quarter. Finally, CWM LLC increased its position in shares of Castle Biosciences by 20.5% during the fourth quarter. CWM LLC now owns 2,302 shares of the company’s stock worth $90,000 after buying an additional 391 shares during the period. 92.60% of the stock is currently owned by institutional investors.

Insider Activity at Castle Biosciences

In related news, COO Kristen M. Oelschlager sold 12,384 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $34.42, for a total value of $426,257.28. Following the completion of the sale, the chief operating officer directly owned 72,649 shares of the company’s stock, valued at $2,500,578.58. The trade was a 14.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Derek J. Maetzold sold 2,546 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $30.68, for a total value of $78,111.28. Following the transaction, the insider directly owned 21,479 shares in the company, valued at approximately $658,975.72. This trade represents a 10.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 169,957 shares of company stock valued at $4,996,708 in the last three months. Corporate insiders own 6.10% of the company’s stock.

Castle Biosciences Stock Down 1.4%

Shares of NASDAQ CSTL opened at $33.03 on Tuesday. The company has a quick ratio of 5.85, a current ratio of 6.04 and a debt-to-equity ratio of 0.02. The firm has a market cap of $1.01 billion, a PE ratio of -50.05 and a beta of 0.98. The company’s fifty day simple moving average is $27.48 and its 200 day simple moving average is $25.43. Castle Biosciences, Inc. has a 12-month low of $17.72 and a 12-month high of $44.28.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.34. Castle Biosciences had a negative net margin of 5.43% and a negative return on equity of 4.15%. The firm had revenue of $99.86 million during the quarter, compared to the consensus estimate of $86.23 million. As a group, sell-side analysts forecast that Castle Biosciences, Inc. will post -1.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CSTL shares. Zacks Research lowered shares of Castle Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Roth Capital initiated coverage on Castle Biosciences in a report on Wednesday, June 24th. They set a “buy” rating and a $40.00 price target for the company. Weiss Ratings raised Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, July 31st. BTIG Research boosted their price objective on Castle Biosciences from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, KeyCorp set a $35.00 target price on Castle Biosciences in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Castle Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

About Castle Biosciences

Castle Biosciences, Inc is a molecular diagnostics company specializing in the development and commercialization of prognostic and diagnostic tests for patients with dermatologic conditions. The company’s proprietary portfolio of genomic assays is designed to improve risk assessment and guide clinical decision-making for individuals with skin cancers and other skin-related diseases. By combining genomic data with advanced statistical algorithms, Castle Biosciences seeks to provide actionable insights that help physicians tailor treatment plans and monitoring strategies.

The company’s flagship test, DecisionDx-Melanoma, evaluates the probability of metastasis in patients diagnosed with cutaneous melanoma, supporting more personalized surveillance and therapeutic approaches.