Castle Biosciences, Inc. $CSTL Shares Sold by UBS Group AG

Key Points

• UBS Group AG cut its Castle Biosciences stake by 51.3% in the fourth quarter, though it still held 141,873 shares worth about $5.5 million. Institutional ownership remains high at 92.6%.
• Castle Biosciences insiders also sold shares, including CFO Frank Stokes and insider Derek J. Maetzold, with insiders selling 84,411 shares total over the last quarter.
• The company reported mixed operating results: Q1 earnings matched expectations at -$0.49 per share, while revenue of $84.23 million beat estimates. Shares recently traded around $20.03, well below the 52-week high of $44.28.

UBS Group AG lessened its stake in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 51.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,873 shares of the company's stock after selling 149,489 shares during the quarter. UBS Group AG owned approximately 0.49% of Castle Biosciences worth $5,519,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CSTL. Harbor Capital Advisors Inc. boosted its stake in shares of Castle Biosciences by 2.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 13,432 shares of the company's stock worth $523,000 after purchasing an additional 261 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Castle Biosciences by 26.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,418 shares of the company's stock valued at $55,000 after buying an additional 297 shares during the last quarter. CWM LLC lifted its stake in shares of Castle Biosciences by 20.5% during the fourth quarter. CWM LLC now owns 2,302 shares of the company's stock valued at $90,000 after buying an additional 391 shares during the period. Franklin Resources Inc. lifted its stake in shares of Castle Biosciences by 0.5% during the third quarter. Franklin Resources Inc. now owns 99,787 shares of the company's stock valued at $2,272,000 after buying an additional 540 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Castle Biosciences by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,441 shares of the company's stock worth $309,000 after acquiring an additional 655 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company's stock.

Insider Transactions at Castle Biosciences

In other news, CFO Frank Stokes sold 7,000 shares of the firm's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $27.44, for a total value of $192,080.00. Following the transaction, the chief financial officer directly owned 52,483 shares in the company, valued at $1,440,133.52. This trade represents a 11.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Derek J. Maetzold sold 18,650 shares of Castle Biosciences stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $25.93, for a total value of $483,594.50. Following the completion of the transaction, the insider directly owned 22,129 shares in the company, valued at $573,804.97. This represents a 45.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 84,411 shares of company stock valued at $2,166,211. Corporate insiders own 6.10% of the company's stock.

Castle Biosciences Stock Performance

Shares of CSTL stock opened at $20.03 on Thursday. Castle Biosciences, Inc. has a one year low of $14.59 and a one year high of $44.28. 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 company has a 50 day moving average price of $23.69 and a 200 day moving average price of $31.85. The firm has a market capitalization of $607.51 million, a price-to-earnings ratio of -45.52 and a beta of 1.11.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.49) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.49). Castle Biosciences had a negative net margin of 3.78% and a negative return on equity of 2.77%. The company had revenue of $84.23 million for the quarter, compared to analyst estimates of $79.23 million. Sell-side analysts anticipate that Castle Biosciences, Inc. will post -1.4 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on the stock. KeyCorp reaffirmed an "overweight" rating and issued a $50.00 target price on shares of Castle Biosciences in a research note on Thursday, January 29th. Canaccord Genuity Group decreased their price objective on Castle Biosciences from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, April 20th. Weiss Ratings downgraded Castle Biosciences from a "sell (d)" rating to a "sell (d-)" rating in a research report on Thursday, May 7th. BTIG Research dropped their target price on Castle Biosciences from $50.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, May 13th. Finally, Morgan Stanley upgraded Castle Biosciences to a "buy" rating in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $45.33.

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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