KBC Group NV Acquires New Holdings in Castle Biosciences, Inc. $CSTL

KBC Group NV bought a new stake in Castle Biosciences, Inc. (NASDAQ:CSTL) during the first quarter, Holdings Channel.com reports. The institutional investor bought 36,932 shares of the company’s stock, valued at approximately $907,000.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Castle Biosciences by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 2,199,829 shares of the company’s stock valued at $85,573,000 after acquiring an additional 27,511 shares during the period. RTW Investments LP purchased a new position in shares of Castle Biosciences during the 4th quarter worth approximately $82,283,000. Principal Financial Group Inc. increased its holdings in Castle Biosciences by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 1,807,644 shares of the company’s stock valued at $70,317,000 after purchasing an additional 13,289 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Castle Biosciences by 7.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,474,089 shares of the company’s stock valued at $33,564,000 after purchasing an additional 96,084 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC raised its position in 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 purchasing an additional 658,725 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Castle Biosciences Stock Performance

NASDAQ CSTL opened at $24.68 on Friday. The company has a fifty day moving average of $22.20 and a two-hundred day moving average of $27.02. The company has a market capitalization of $748.54 million, a PE ratio of -56.09 and a beta of 1.00. Castle Biosciences, Inc. has a 1 year low of $14.59 and a 1 year 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.

Castle Biosciences (NASDAQ:CSTL) last posted its earnings results on Wednesday, May 6th. The company reported ($0.49) earnings per share for the quarter, meeting the consensus estimate of ($0.49). The business had revenue of $84.23 million during the quarter, compared to the consensus estimate of $79.23 million. Castle Biosciences had a negative return on equity of 2.77% and a negative net margin of 3.78%. As a group, analysts expect that Castle Biosciences, Inc. will post -1.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Weiss Ratings cut Castle Biosciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. Zacks Research downgraded Castle Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. KeyCorp set a $35.00 target price on Castle Biosciences in a research note on Friday, May 29th. Wall Street Zen lowered Castle Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Canaccord Genuity Group lowered their target price on Castle Biosciences from $50.00 to $40.00 and set a “buy” rating for the company in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Castle Biosciences currently has an average rating of “Moderate Buy” and an average target price of $42.43.

Insider Activity at Castle Biosciences

In other Castle Biosciences news, COO Kristen M. Oelschlager sold 8,587 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $20.71, for a total value of $177,836.77. Following the completion of the sale, the chief operating officer owned 30,460 shares in the company, valued at approximately $630,826.60. The trade was a 21.99% 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 hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Derek J. Maetzold sold 6,214 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $22.15, for a total value of $137,640.10. Following the completion of the sale, the insider directly owned 21,479 shares of the company’s stock, valued at $475,759.85. The trade was a 22.44% 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. In the last ninety days, insiders have sold 45,189 shares of company stock worth $1,014,561. 6.10% of the stock is currently 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.