Advisors Capital Management LLC acquired a new stake in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 238,204 shares of the company's stock, valued at approximately $5,681,000. Advisors Capital Management LLC owned approximately 0.78% of Castle Biosciences as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in CSTL. Summit Partners Public Asset Management LLC grew its stake in Castle Biosciences by 164.7% during the 4th quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company's stock valued at $41,184,000 after purchasing an additional 658,725 shares in the last quarter. SummitTX Capital L.P. raised its position in shares of Castle Biosciences by 285.0% in the 1st quarter. SummitTX Capital L.P. now owns 67,033 shares of the company's stock valued at $1,646,000 after purchasing an additional 49,623 shares in the last quarter. Quantinno Capital Management LP boosted its stake in shares of Castle Biosciences by 387.3% during the 1st quarter. Quantinno Capital Management LP now owns 45,476 shares of the company's stock valued at $1,116,000 after buying an additional 36,144 shares during the last quarter. AIGH Capital Management LLC purchased a new position in shares of Castle Biosciences during the 2nd quarter valued at approximately $13,001,000. Finally, Eventide Asset Management LLC acquired a new stake in shares of Castle Biosciences during the fourth quarter worth approximately $11,864,000. Hedge funds and other institutional investors own 92.60% of the company's stock.
Castle Biosciences Price Performance
NASDAQ CSTL opened at $32.93 on Friday. The company has a 50-day moving average price of $25.64 and a two-hundred day moving average price of $25.47. Castle Biosciences, Inc. has a 52 week low of $17.72 and a 52 week high of $44.28. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -49.89 and a beta of 0.98. The company has a current ratio of 6.04, a quick ratio of 5.85 and a debt-to-equity ratio of 0.02.
Castle Biosciences (NASDAQ:CSTL - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.41) by $0.34. The business had revenue of $99.86 million during the quarter, compared to analyst estimates of $86.23 million. Castle Biosciences had a negative return on equity of 4.15% and a negative net margin of 5.43%. Analysts forecast that Castle Biosciences, Inc. will post -1.29 EPS for the current year.
Insider Transactions at Castle Biosciences
In other news, COO Kristen M. Oelschlager sold 8,587 shares of the firm's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $20.71, for a total transaction of $177,836.77. Following the completion of the sale, the chief operating officer directly owned 30,460 shares of the company's stock, valued at $630,826.60. This trade represents a 21.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tobin W. Juvenal sold 17,310 shares of Castle Biosciences stock in a transaction on Friday, July 31st. The stock was sold at an average price of $29.31, for a total value of $507,356.10. Following the completion of the transaction, the insider owned 80,725 shares in the company, valued at $2,366,049.75. The trade was a 17.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 136,305 shares of company stock valued at $3,841,714 in the last quarter. Insiders own 6.10% of the company's stock.
Analyst Ratings Changes
A number of brokerages have weighed in on CSTL. Weiss Ratings raised shares of Castle Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, July 31st. KeyCorp set a $35.00 price objective on shares of Castle Biosciences in a research report on Friday, May 29th. Wall Street Zen upgraded shares of Castle Biosciences from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Robert W. Baird set a $36.00 target price on shares of Castle Biosciences in a report on Friday, July 31st. Finally, BTIG Research raised their target price on shares of Castle Biosciences from $40.00 to $44.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $42.00.
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About Castle Biosciences
(
Free Report)
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.
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