Soleus Capital Management L.P. Sells 409,415 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

Soleus Capital Management L.P. reduced its stake in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 61.8% during the 4th quarter, according to its most recent 13F filing with the SEC. 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 filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in Castle Biosciences by 165.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 69,409 shares of the company's stock valued at $1,980,000 after acquiring an additional 43,241 shares in the last quarter. Truist Financial Corp boosted its holdings in Castle Biosciences by 4.6% during the fourth quarter. Truist Financial Corp now owns 21,303 shares of the company's stock worth $568,000 after purchasing an additional 928 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Castle Biosciences by 15.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 999,466 shares of the company's stock valued at $26,636,000 after purchasing an additional 134,645 shares in the last quarter. MetLife Investment Management LLC grew its position in Castle Biosciences by 11.4% in the fourth quarter. MetLife Investment Management LLC now owns 16,017 shares of the company's stock valued at $427,000 after purchasing an additional 1,645 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Castle Biosciences by 8.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 22,697 shares of the company's stock valued at $605,000 after buying an additional 1,837 shares during the last quarter. Institutional investors own 92.60% of the company's stock.

Castle Biosciences Stock Performance

Shares of NASDAQ:CSTL traded down $0.13 on Thursday, hitting $15.89. The company had a trading volume of 292,532 shares, compared to its average volume of 405,786. The stock has a market cap of $458.78 million, a price-to-earnings ratio of 79.45 and a beta of 1.19. 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 $19.31 and a 200 day moving average price of $24.75. Castle Biosciences, Inc. has a 1-year low of $15.70 and a 1-year high of $35.84.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CSTL. Lake Street Capital reduced their price objective on shares of Castle Biosciences from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Robert W. Baird upped their target price on Castle Biosciences from $36.00 to $37.00 and gave the stock an "outperform" rating in a report on Friday, February 28th. Scotiabank reduced their price target on Castle Biosciences from $44.00 to $40.00 and set a "sector outperform" rating for the company in a research report on Wednesday. Guggenheim set a $30.00 price target on Castle Biosciences and gave the stock a "buy" rating in a research report on Friday, March 28th. Finally, Canaccord Genuity Group dropped their price objective on Castle Biosciences from $42.00 to $37.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $37.00.

Insider Activity

In other Castle Biosciences news, insider Derek J. Maetzold sold 22,639 shares of Castle Biosciences stock in a transaction dated 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 sale, the insider now owns 80,465 shares in the company, valued at $1,618,955.80. The trade was a 21.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 27,454 shares of company stock valued at $553,030. 6.50% of the stock is owned by company insiders.

Castle Biosciences 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.