Wasatch Advisors LP Decreases Holdings in Castle Biosciences, Inc. $CSTL

Wasatch Advisors LP reduced its stake in Castle Biosciences, Inc. (NASDAQ:CSTL) by 15.3% in the 1st quarter, Holdings Channel reports. The firm owned 455,036 shares of the company’s stock after selling 82,205 shares during the quarter. Wasatch Advisors LP’s holdings in Castle Biosciences were worth $11,171,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CSTL. RTW Investments LP acquired a new position in shares of Castle Biosciences during the fourth quarter worth about $82,283,000. Summit Partners Public Asset Management LLC grew its stake in shares of Castle Biosciences by 164.7% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company’s stock valued at $41,184,000 after buying an additional 658,725 shares in the last quarter. Eventide Asset Management LLC acquired a new stake in shares of Castle Biosciences in the fourth quarter valued at about $11,864,000. SG Americas Securities LLC raised its holdings in shares of Castle Biosciences by 1,051.8% during the 1st quarter. SG Americas Securities LLC now owns 244,886 shares of the company’s stock valued at $6,012,000 after buying an additional 223,624 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in shares of Castle Biosciences during the 4th quarter valued at about $8,502,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

Castle Biosciences Trading Up 6.1%

CSTL opened at $24.30 on Friday. Castle Biosciences, Inc. has a 12-month low of $14.59 and a 12-month high of $44.28. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 6.53. The stock has a market capitalization of $737.02 million, a PE ratio of -55.23 and a beta of 1.04. The firm’s fifty day moving average price is $21.60 and its 200 day moving average price is $29.12.

Castle Biosciences (NASDAQ:CSTL) last announced 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 company had revenue of $84.23 million during the quarter, compared to analyst estimates of $79.23 million. Castle Biosciences had a negative net margin of 3.78% and a negative return on equity of 2.77%. As a group, research analysts expect that Castle Biosciences, Inc. will post -1.48 EPS for the current fiscal year.

Insider Activity

In related news, insider Derek J. Maetzold sold 6,214 shares of Castle Biosciences stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $22.15, for a total value of $137,640.10. Following the completion of the transaction, the insider directly owned 21,479 shares in the company, valued at approximately $475,759.85. This trade represents a 22.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kristen M. Oelschlager sold 8,587 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $20.71, for a total value of $177,836.77. Following the sale, the chief operating officer owned 30,460 shares in the company, valued at $630,826.60. The trade was a 21.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 40,775 shares of company stock worth $916,887 in the last ninety days. Corporate insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CSTL. Weiss Ratings cut Castle Biosciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Roth Mkm assumed coverage on shares of Castle Biosciences in a research note on Wednesday. They set a “buy” rating and a $40.00 price objective on the stock. Zacks Research cut shares of Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Canaccord Genuity Group decreased their target price on shares of Castle Biosciences from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Finally, Morgan Stanley raised shares of Castle Biosciences to a “buy” rating in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.43.

Castle Biosciences 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.