Quantinno Capital Management LP Purchases 36,144 Shares of Castle Biosciences, Inc. $CSTL

Key Points

• Quantinno Capital Management increased its Castle Biosciences stake by 387.3% in the first quarter, purchasing 36,144 additional shares and bringing its holdings to 45,476 shares worth approximately $1.12 million.
• Institutional investors own 92.6% of CSTL, while insiders sold 140,477 shares worth $3.93 million over the past 90 days, including sales by the COO and another insider under Rule 10b5-1 plans.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $42 target price. Castle recently beat quarterly revenue and EPS estimates, reporting $99.86 million in revenue and a loss of $0.07 per share.

Quantinno Capital Management LP grew its position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 387.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,476 shares of the company's stock after purchasing an additional 36,144 shares during the quarter. Quantinno Capital Management LP owned approximately 0.15% of Castle Biosciences worth $1,116,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CSTL. Federated Hermes Inc. acquired a new stake in Castle Biosciences during the 4th quarter worth approximately $26,000. Kemnay Advisory Services Inc. bought a new stake in Castle Biosciences during the 4th quarter worth approximately $35,000. Jones Financial Companies Lllp increased its position in Castle Biosciences by 10,592.0% in the 1st quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company's stock valued at $54,000 after acquiring an additional 2,648 shares during the period. Mirae Asset Global Investments Co. Ltd. raised 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 valued at $55,000 after acquiring an additional 297 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Castle Biosciences by 256.9% during the second quarter. Tower Research Capital LLC TRC now owns 2,791 shares of the company's stock valued at $57,000 after acquiring an additional 2,009 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors.

Insider Activity at Castle Biosciences

In other Castle Biosciences news, COO Kristen M. Oelschlager sold 8,586 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $29.77, for a total transaction of $255,605.22. Following the completion of the sale, the chief operating officer owned 13,288 shares in the company, valued at approximately $395,583.76. The trade was a 39.25% decrease in their position. The sale was disclosed in a document filed 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 the business's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $30.68, for a total transaction of $78,111.28. Following the sale, the insider owned 21,479 shares of the company's stock, valued at $658,975.72. This trade represents a 10.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 140,477 shares of company stock valued at $3,925,791. 6.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CSTL shares. Robert W. Baird set a $36.00 price objective on shares of Castle Biosciences in a research note on Friday, July 31st. Roth Capital began coverage on Castle Biosciences in a research report on Wednesday, June 24th. They set a "buy" rating and a $40.00 target price for the company. BTIG Research lifted their target price on Castle Biosciences from $40.00 to $44.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Weiss Ratings raised Castle Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, July 31st. Finally, Wall Street Zen upgraded Castle Biosciences from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Castle Biosciences presently has an average rating of "Moderate Buy" and a consensus target price of $42.00.

Castle Biosciences Stock Down 3.0%

Shares of NASDAQ:CSTL opened at $29.62 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.85 and a current ratio of 6.04. Castle Biosciences, Inc. has a 52-week low of $17.72 and a 52-week high of $44.28. The business's 50 day simple moving average is $24.82 and its two-hundred day simple moving average is $25.85. The firm has a market cap of $904.89 million, a P/E ratio of -44.88 and a beta of 0.98.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.34. Castle Biosciences had a negative return on equity of 4.15% and a negative net margin of 5.43%.The firm had revenue of $99.86 million during the quarter, compared to the consensus estimate of $86.23 million. As a group, research analysts forecast that Castle Biosciences, Inc. will post -1.29 EPS for the current fiscal year.

About Castle Biosciences

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.

Want to see what other hedge funds are holding CSTL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source