Castle Biosciences, Inc. (NASDAQ:CSTL) Shares Sold by Soleus Capital Management L.P.

Soleus Capital Management L.P. decreased its stake in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 61.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 252,917 shares of the company's stock after selling 409,415 shares during the period. Soleus Capital Management L.P. owned approximately 0.90% of Castle Biosciences worth $6,740,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Two Sigma Advisers LP acquired a new stake in shares of Castle Biosciences in the fourth quarter valued at about $306,000. Point72 Asset Management L.P. lifted its stake in shares of Castle Biosciences by 9.6% in the fourth quarter. Point72 Asset Management L.P. now owns 547,104 shares of the company's stock valued at $14,580,000 after purchasing an additional 47,912 shares during the period. ProShare Advisors LLC purchased a new position in Castle Biosciences during the 4th quarter valued at about $230,000. Parkman Healthcare Partners LLC raised its position in Castle Biosciences by 2.9% during the fourth quarter. Parkman Healthcare Partners LLC now owns 304,629 shares of the company's stock worth $8,118,000 after acquiring an additional 8,558 shares during the last quarter. Finally, Man Group plc acquired a new position in Castle Biosciences during the fourth quarter worth about $354,000. Institutional investors and hedge funds own 92.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CSTL shares. Lake Street Capital cut their target price on shares of Castle Biosciences from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Robert W. Baird lifted their target price on shares of Castle Biosciences from $36.00 to $37.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Canaccord Genuity Group cut their target price on shares of Castle Biosciences from $42.00 to $37.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Guggenheim set a $30.00 target price on shares of Castle Biosciences and gave the stock a "buy" rating in a research report on Friday, March 28th. Finally, Scotiabank lowered their price target on shares of Castle Biosciences from $44.00 to $40.00 and set a "sector outperform" rating for the company in a report on Wednesday. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $37.00.

Castle Biosciences Trading Up 1.3%

Shares of NASDAQ CSTL traded up $0.21 during midday trading on Friday, reaching $16.10. 287,423 shares of the stock were exchanged, compared to its average volume of 405,787. The company has a market capitalization of $464.84 million, a P/E ratio of 80.50 and a beta of 1.19. Castle Biosciences, Inc. has a 52-week low of $15.66 and a 52-week high of $35.84. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. The stock has a 50 day moving average price of $19.14 and a 200-day moving average price of $24.53.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.12). Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The company had revenue of $87.99 million during the quarter, compared to analyst estimates of $80.40 million. Equities research analysts expect that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Derek J. Maetzold sold 22,639 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $20.12, for a total value of $455,496.68. Following the completion of the transaction, the insider now directly owns 80,465 shares in the company, valued at approximately $1,618,955.80. This represents a 21.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 27,454 shares of company stock worth $553,030 over the last ninety days. 6.50% of the stock is owned by company insiders.

Castle Biosciences Company Profile

Castle Biosciences, Inc, a molecular diagnostics company, provides testing solutions for the diagnosis and treatment of dermatologic cancers, Barrett's esophagus, uveal melanoma, and mental health conditions. It offers DecisionDx-Melanoma, a risk stratification gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma; DecisionDx-SCC, a proprietary risk stratification GEP test for patients with cutaneous squamous cell carcinoma; MyPath Melanoma, a test used for patients with difficult-to-diagnose melanocytic lesions; and TissueCypher, a spatial omics test to predict future development of high-grade dysplasia and/or esophageal cancer in patients with non-dysplastic, indefinite dysplasia, or low-grade dysplasia Barrett's esophagus.