Summit Partners Public Asset Management LLC Has $41.18 Million Position in Castle Biosciences, Inc. $CSTL

Summit Partners Public Asset Management LLC grew its stake in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 164.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,058,725 shares of the company’s stock after buying an additional 658,725 shares during the period. Summit Partners Public Asset Management LLC owned approximately 3.63% of Castle Biosciences worth $41,184,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Federated Hermes Inc. acquired a new position in shares of Castle Biosciences during the fourth quarter valued at about $26,000. Mirae Asset Global Investments Co. Ltd. raised its position 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 buying an additional 297 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Castle Biosciences by 140.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,750 shares of the company’s stock valued at $68,000 after buying an additional 1,022 shares during the last quarter. CWM LLC raised its position 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 last quarter. Finally, Persistent Asset Partners Ltd acquired a new position in shares of Castle Biosciences during the fourth quarter valued at about $96,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Castle Biosciences Price Performance

Shares of Castle Biosciences stock opened at $20.46 on Wednesday. The company has a current ratio of 6.75, a quick ratio of 6.53 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $620.55 million, a price-to-earnings ratio of -46.50 and a beta of 1.04. Castle Biosciences, Inc. has a 1-year low of $14.59 and a 1-year high of $44.28. The firm’s 50-day moving average price is $21.99 and its two-hundred day moving average price is $30.05.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.49) earnings per share for the quarter, hitting the consensus estimate of ($0.49). The firm had revenue of $84.23 million for the quarter, compared to analysts’ expectations of $79.23 million. Castle Biosciences had a negative net margin of 3.78% and a negative return on equity of 2.77%. On average, equities analysts predict that Castle Biosciences, Inc. will post -1.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Canaccord Genuity Group lowered their target price on shares of Castle Biosciences from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. KeyCorp set a $35.00 target price on shares of Castle Biosciences in a research note on Friday, May 29th. Weiss Ratings cut shares of Castle Biosciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. Wall Street Zen cut shares of Castle Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Robert W. Baird lowered their target price on shares of Castle Biosciences from $44.00 to $43.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.83.

Insiders Place Their Bets

In other Castle Biosciences news, insider Derek J. Maetzold sold 2,763 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $20.20, for a total transaction of $55,812.60. Following the sale, the insider directly owned 1,946 shares of the company’s stock, valued at approximately $39,309.20. This represents a 58.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 28,016 shares of company stock worth $652,856 over the last quarter. 6.10% of the stock is currently 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.