Castle Biosciences, Inc. $CSTL Shares Acquired by Algert Global LLC

Key Points

• Algert Global LLC more than doubled its Castle Biosciences position in the second quarter, acquiring 35,700 additional shares for a total of 70,478 shares valued at approximately $1.68 million. Institutional investors collectively own 92.6% of the company.
• Analyst sentiment is generally positive, with Castle Biosciences receiving a consensus “Moderate Buy” rating and an average price target of $42.00; BTIG recently raised its target to $44.00.
• Castle Biosciences reported a quarterly loss of $0.07 per share, beating estimates by $0.34, while revenue of $99.86 million exceeded expectations. The stock opened at $33.50, down 2.2%.

Algert Global LLC lifted its position in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 102.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,478 shares of the company's stock after purchasing an additional 35,700 shares during the quarter. Algert Global LLC owned about 0.23% of Castle Biosciences worth $1,681,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC acquired a new position in Castle Biosciences in the 2nd quarter worth approximately $26,000. Federated Hermes Inc. acquired a new stake in shares of Castle Biosciences in the fourth quarter worth $26,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Castle Biosciences in the fourth quarter worth $35,000. Jones Financial Companies Lllp raised its holdings in shares of Castle Biosciences by 10,592.0% during the first 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. Finally, Russell Investments Group Ltd. raised its holdings in shares of Castle Biosciences by 63.7% during the third quarter. Russell Investments Group Ltd. now owns 2,508 shares of the company's stock worth $57,000 after purchasing an additional 976 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on CSTL. Weiss Ratings upgraded Castle Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, July 31st. Roth Capital assumed coverage on Castle Biosciences in a research note on Wednesday, June 24th. They issued a "buy" rating and a $40.00 target price on the stock. Zacks Research lowered Castle Biosciences from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Wall Street Zen upgraded Castle Biosciences from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, BTIG Research boosted their price target on Castle Biosciences from $40.00 to $44.00 and gave the company a "buy" rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Castle Biosciences currently has an average rating of "Moderate Buy" and a consensus target price of $42.00.

Insider Transactions at Castle Biosciences

In related news, insider Tobin W. Juvenal sold 9,050 shares of the firm's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $35.04, for a total value of $317,112.00. Following the transaction, the insider directly owned 66,914 shares of the company's stock, valued at approximately $2,344,666.56. This trade represents a 11.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Derek J. Maetzold sold 2,546 shares of Castle Biosciences stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $30.68, for a total value of $78,111.28. Following the completion of the sale, the insider owned 21,479 shares in the company, valued at approximately $658,975.72. The trade was a 10.60% 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 sold 169,957 shares of company stock valued at $4,996,708 over the last 90 days. Corporate insiders own 6.10% of the company's stock.

Castle Biosciences Stock Down 2.2%

Castle Biosciences stock opened at $33.50 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.04 and a quick ratio of 5.85. The stock has a market capitalization of $1.02 billion, a PE ratio of -50.76 and a beta of 0.98. The business has a 50 day simple moving average of $27.24 and a 200-day simple moving average of $25.47. Castle Biosciences, Inc. has a 12 month low of $17.72 and a 12 month high of $44.28.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.41) by $0.34. The firm had revenue of $99.86 million for 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%. On average, analysts anticipate that Castle Biosciences, Inc. will post -1.29 EPS for the current fiscal year.

Castle Biosciences Company Profile

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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