Wasatch Advisors LP Has $6.66 Million Holdings in Castle Biosciences, Inc. $CSTL

Wasatch Advisors LP lessened its position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 38.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 279,349 shares of the company’s stock after selling 175,687 shares during the period. Wasatch Advisors LP’s holdings in Castle Biosciences were worth $6,662,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Federated Hermes Inc. bought a new stake in shares of Castle Biosciences in the fourth quarter valued at about $26,000. Kemnay Advisory Services Inc. bought a new position in shares of Castle Biosciences during the fourth quarter worth about $35,000. Jones Financial Companies Lllp raised 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 buying an additional 2,648 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Castle Biosciences by 26.5% in the 4th 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. Finally, Russell Investments Group Ltd. raised its position in Castle Biosciences by 63.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,508 shares of the company’s stock valued at $57,000 after buying an additional 976 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Castle Biosciences Stock Performance

CSTL opened at $31.43 on Thursday. The business’s 50-day simple moving average is $24.47 and its 200 day simple moving average is $25.90. Castle Biosciences, Inc. has a 52-week low of $17.72 and a 52-week high of $44.28. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.85 and a current ratio of 6.04. The firm has a market capitalization of $960.19 million, a PE ratio of -47.62 and a beta of 0.98.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.34. The firm had revenue of $99.86 million during the quarter, compared to the consensus estimate of $86.23 million. Castle Biosciences had a negative return on equity of 4.15% and a negative net margin of 5.43%. As a group, sell-side analysts expect that Castle Biosciences, Inc. will post -1.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CSTL. Wall Street Zen raised Castle Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. KeyCorp set a $35.00 price objective on shares of Castle Biosciences in a report on Friday, May 29th. BTIG Research boosted their price objective on shares of Castle Biosciences from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Roth Capital assumed coverage on shares of Castle Biosciences in a report on Wednesday, June 24th. They set a “buy” rating and a $40.00 target price for the company. Finally, Zacks Research downgraded shares of Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Insider Activity at Castle Biosciences

In related news, insider Derek J. Maetzold sold 20,356 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $31.11, for a total value of $633,275.16. Following the completion of the transaction, the insider directly owned 21,479 shares of the company’s stock, valued at approximately $668,211.69. This trade represents a 48.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tobin W. Juvenal sold 17,310 shares of the business’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $29.31, for a total transaction of $507,356.10. Following the transaction, the insider owned 80,725 shares in the company, valued at approximately $2,366,049.75. The trade was a 17.66% decrease in their ownership of the stock. 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. Over the last three months, insiders sold 140,477 shares of company stock valued at $3,925,791. 6.10% of the stock is owned by corporate insiders.

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.