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

Summit Partners Public Asset Management LLC lifted its position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 164.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,058,725 shares of the company’s stock after acquiring an additional 658,725 shares during the quarter. Summit Partners Public Asset Management LLC’s holdings in Castle Biosciences were worth $41,184,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Portolan Capital Management LLC raised its position in shares of Castle Biosciences by 1.7% during the third quarter. Portolan Capital Management LLC now owns 1,515,111 shares of the company’s stock worth $34,499,000 after acquiring an additional 25,539 shares during the last quarter. Eventide Asset Management LLC bought a new stake in shares of Castle Biosciences during the fourth quarter worth $11,864,000. Dynamic Technology Lab Private Ltd bought a new position in Castle Biosciences in the third quarter valued at approximately $667,000. TritonPoint Partners LLC bought a new position in Castle Biosciences in the fourth quarter valued at approximately $419,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Castle Biosciences by 140.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,750 shares of the company’s stock valued at $68,000 after acquiring an additional 1,022 shares during the last quarter. Institutional investors own 92.60% of the company’s stock.

Insiders Place Their Bets

In other Castle Biosciences news, insider Derek J. Maetzold sold 2,763 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $20.20, for a total value of $55,812.60. Following the sale, the insider directly owned 1,946 shares in the company, valued at approximately $39,309.20. This trade represents a 58.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 28,016 shares of company stock valued at $652,856 in the last quarter. Company insiders own 6.10% of the company’s stock.

Castle Biosciences Trading Down 1.0%

CSTL opened at $20.46 on Wednesday. The firm’s fifty day moving average is $21.99 and its two-hundred day moving average is $30.05. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.53 and a current ratio of 6.75. The firm has a market cap of $620.55 million, a PE ratio of -46.50 and a beta of 1.04. Castle Biosciences, Inc. has a twelve month low of $14.59 and a twelve month high of $44.28.

Castle Biosciences (NASDAQ:CSTL) last posted its earnings results 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 for 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%. Equities research analysts anticipate that Castle Biosciences, Inc. will post -1.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. 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. Robert W. Baird reduced their price objective 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. BTIG Research reduced their price objective on shares of Castle Biosciences from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. Canaccord Genuity Group reduced their price objective 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. Finally, KeyCorp set a $35.00 price objective on shares of Castle Biosciences in a research note on Friday, May 29th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.83.

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.