Quantinno Capital Management LP Raises Position in Castle Biosciences, Inc. $CSTL

Quantinno Capital Management LP grew its stake in Castle Biosciences, Inc. (NASDAQ:CSTL) by 387.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,476 shares of the company’s stock after purchasing an additional 36,144 shares during the quarter. Quantinno Capital Management LP’s holdings in Castle Biosciences were worth $1,116,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CSTL. SummitTX Capital L.P. boosted its position in shares of Castle Biosciences by 285.0% during the first quarter. SummitTX Capital L.P. now owns 67,033 shares of the company’s stock valued at $1,646,000 after buying an additional 49,623 shares during the last quarter. Renaissance Technologies LLC raised its position in Castle Biosciences by 8.1% in the 1st quarter. Renaissance Technologies LLC now owns 532,800 shares of the company’s stock valued at $13,080,000 after buying an additional 39,700 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Castle Biosciences by 286.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 27,142 shares of the company’s stock valued at $666,000 after acquiring an additional 20,113 shares in the last quarter. State of Wyoming lifted its stake in Castle Biosciences by 215.9% during the 1st quarter. State of Wyoming now owns 9,522 shares of the company’s stock valued at $234,000 after acquiring an additional 6,508 shares in the last quarter. Finally, Summit Global Investments lifted its stake in Castle Biosciences by 10.9% during the 1st quarter. Summit Global Investments now owns 13,718 shares of the company’s stock valued at $337,000 after acquiring an additional 1,353 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Insider Buying and Selling at Castle Biosciences

In other Castle Biosciences news, COO Kristen M. Oelschlager sold 8,587 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $20.71, for a total transaction of $177,836.77. Following the completion of the transaction, the chief operating officer directly owned 30,460 shares of the company’s stock, valued at approximately $630,826.60. This represents a 21.99% decrease in their ownership of the stock. The sale 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, insider Derek J. Maetzold sold 20,356 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $31.11, for a total value of $633,275.16. Following the completion of the sale, the insider directly owned 21,479 shares of the company’s stock, valued at $668,211.69. This represents a 48.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 140,477 shares of company stock valued at $3,925,791. Company insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CSTL. Zacks Research lowered shares of Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. BTIG Research raised their price target on shares of Castle Biosciences from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Wall Street Zen raised shares of Castle Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Roth Capital initiated coverage on shares of Castle Biosciences in a report on Wednesday, June 24th. They set a “buy” rating and a $40.00 price target on the stock. Finally, Canaccord Genuity Group reduced their price objective on shares of Castle Biosciences from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.00.

Castle Biosciences Stock Down 3.0%

CSTL opened at $29.62 on Friday. Castle Biosciences, Inc. has a twelve month low of $17.72 and a twelve month high of $44.28. The company’s 50-day moving average price is $24.82 and its two-hundred day moving average price is $25.85. The stock has a market cap of $904.89 million, a price-to-earnings ratio of -44.88 and a beta of 0.98. The company has a quick ratio of 5.85, a current ratio of 6.04 and a debt-to-equity ratio of 0.02.

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

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.