Castle Biosciences, Inc. $CSTL Shares Bought by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC boosted its stake in Castle Biosciences by 1,051.8% in the first quarter, ending with 244,886 shares valued at about $6.0 million.
• Castle Biosciences reported Q1 earnings of -$0.49 per share, matching estimates, while revenue of $84.23 million came in above expectations. The company remains unprofitable, and analysts expect a full-year loss of -$1.48 EPS.
• Analyst sentiment is mixed but constructive: the stock has a Moderate Buy consensus with a $42.43 average price target, even as several firms recently trimmed targets and insiders sold shares in recent months.

SG Americas Securities LLC grew its holdings in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 1,051.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244,886 shares of the company's stock after purchasing an additional 223,624 shares during the quarter. SG Americas Securities LLC owned about 0.81% of Castle Biosciences worth $6,012,000 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. increased its stake in shares of Castle Biosciences by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 2,199,829 shares of the company's stock worth $85,573,000 after acquiring an additional 27,511 shares during the last quarter. RTW Investments LP acquired a new position in shares of Castle Biosciences during the 4th quarter valued at about $82,283,000. Principal Financial Group Inc. boosted its position in shares of Castle Biosciences by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,807,644 shares of the company's stock valued at $70,317,000 after acquiring an additional 13,289 shares during the last quarter. Portolan Capital Management LLC increased its position in Castle Biosciences by 1.7% during the third quarter. Portolan Capital Management LLC now owns 1,515,111 shares of the company's stock worth $34,499,000 after purchasing an additional 25,539 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Castle Biosciences by 7.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,474,089 shares of the company's stock worth $33,564,000 after purchasing an additional 96,084 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Castle Biosciences Stock Performance

Shares of CSTL stock opened at $24.30 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.53 and a current ratio of 6.75. The firm has a market cap of $737.02 million, a P/E ratio of -55.23 and a beta of 1.04. The firm's 50 day moving average price is $21.60 and its 200-day moving average price is $29.06. Castle Biosciences, Inc. has a one year low of $14.59 and a one year high of $44.28.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported ($0.49) earnings per share for the quarter, meeting the consensus estimate of ($0.49). Castle Biosciences had a negative net margin of 3.78% and a negative return on equity of 2.77%. The firm had revenue of $84.23 million during the quarter, compared to the consensus estimate of $79.23 million. As a group, equities research analysts predict that Castle Biosciences, Inc. will post -1.48 EPS for the current year.

Insider Activity

In related news, COO Kristen M. Oelschlager sold 8,587 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $20.71, for a total transaction of $177,836.77. Following the transaction, the chief operating officer owned 30,460 shares of the company's stock, valued at approximately $630,826.60. This represents a 21.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Derek J. Maetzold sold 6,214 shares of the business's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $22.15, for a total transaction of $137,640.10. Following the sale, the insider owned 21,479 shares in the company, valued at $475,759.85. This trade represents a 22.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 40,775 shares of company stock worth $916,887. 6.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on CSTL. BTIG Research dropped their price target on shares of Castle Biosciences from $50.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, May 13th. Robert W. Baird reduced their price target on shares of Castle Biosciences from $44.00 to $43.00 and set an "outperform" rating on the stock in a research report on Thursday, May 7th. Morgan Stanley raised shares of Castle Biosciences to a "buy" rating in a research report on Monday, March 2nd. Weiss Ratings lowered Castle Biosciences from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, June 1st. Finally, KeyCorp set a $35.00 target price on Castle Biosciences in a research note on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.43.

Castle Biosciences 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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