Castle Biosciences, Inc. $CSTL Shares Sold by AIGH Capital Management LLC

Key Points

• AIGH Capital Management cut its stake in Castle Biosciences by 11.7%, selling 82,568 shares and leaving it with 624,719 shares (about 2.14% of the company) worth roughly $24.3 million, making CSTL its third-largest holding.
• Analysts are largely bullish—one Strong Buy, eight Buy and one Sell—giving an average rating of "Moderate Buy" and an average target price of $46.14, versus the recent share price near $24.81.
• Castle recently beat quarterly EPS estimates ($-0.08 vs. -$0.23) but remains unprofitable with a negative net margin and an expected -1.4 EPS for the year; meanwhile insiders have sold about 78,592 shares in the past 90 days and institutional ownership is high at 92.6%.

AIGH Capital Management LLC cut its holdings in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 11.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 624,719 shares of the company's stock after selling 82,568 shares during the period. Castle Biosciences comprises approximately 5.9% of AIGH Capital Management LLC's investment portfolio, making the stock its 3rd biggest holding. AIGH Capital Management LLC owned approximately 2.14% of Castle Biosciences worth $24,302,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CSTL. Farther Finance Advisors LLC increased its stake in shares of Castle Biosciences by 139,100.0% during the third quarter. Farther Finance Advisors LLC now owns 1,392 shares of the company's stock worth $32,000 after purchasing an additional 1,391 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Castle Biosciences during the third quarter worth about $35,000. CWM LLC increased its stake in shares of Castle Biosciences by 80.6% during the third quarter. CWM LLC now owns 1,911 shares of the company's stock worth $44,000 after purchasing an additional 853 shares in the last quarter. Jones Financial Companies Lllp increased its stake 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Castle Biosciences by 26.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,418 shares of the company's stock worth $55,000 after purchasing an additional 297 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company's stock.

Wall Street Analyst Weigh In

CSTL has been the subject of several research reports. KeyCorp reaffirmed an "overweight" rating and set a $50.00 price objective on shares of Castle Biosciences in a research note on Thursday, January 29th. Morgan Stanley raised shares of Castle Biosciences to a "buy" rating in a research note on Monday, March 2nd. Canaccord Genuity Group dropped their price objective on shares of Castle Biosciences from $50.00 to $40.00 and set a "buy" rating for the company in a research note on Monday, April 20th. Lake Street Capital upped their price objective on shares of Castle Biosciences from $35.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, January 12th. Finally, Guggenheim upped their price objective on shares of Castle Biosciences from $43.00 to $47.00 and gave the company a "buy" rating in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $46.14.

Castle Biosciences Stock Up 1.3%

Shares of NASDAQ:CSTL opened at $24.81 on Friday. The company has a market cap of $751.74 million, a price-to-earnings ratio of -29.19 and a beta of 1.11. The firm's 50-day simple moving average is $25.80 and its 200-day simple moving average is $32.01. The company has a quick ratio of 5.11, a current ratio of 5.26 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a fifty-two week low of $14.59 and a fifty-two week high of $44.28.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.15. The firm had revenue of $81.88 million during the quarter, compared to analysts' expectations of $81.19 million. Castle Biosciences had a negative net margin of 7.02% and a negative return on equity of 0.89%. As a group, equities research analysts predict that Castle Biosciences, Inc. will post -1.4 earnings per share for the current year.

Insider Activity

In other Castle Biosciences news, insider Derek J. Maetzold sold 3,622 shares of the business's stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $25.10, for a total transaction of $90,912.20. Following the completion of the sale, the insider directly owned 2,502 shares in the company, valued at $62,800.20. The trade was a 59.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Frank Stokes sold 6,001 shares of the business's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $27.98, for a total transaction of $167,907.98. Following the transaction, the chief financial officer directly owned 60,085 shares in the company, valued at approximately $1,681,178.30. The trade was a 9.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 78,592 shares of company stock valued at $2,107,094. 6.10% of the stock is owned by corporate insiders.

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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