SummitTX Capital L.P. Grows Position in Castle Biosciences, Inc. $CSTL

SummitTX Capital L.P. raised its holdings in Castle Biosciences, Inc. (NASDAQ:CSTL) by 285.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 67,033 shares of the company’s stock after acquiring an additional 49,623 shares during the quarter. SummitTX Capital L.P.’s holdings in Castle Biosciences were worth $1,646,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Truist Financial Corp boosted its position in shares of Castle Biosciences by 1.1% during the 4th quarter. Truist Financial Corp now owns 23,628 shares of the company’s stock worth $919,000 after purchasing an additional 257 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Castle Biosciences by 2.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 13,432 shares of the company’s stock valued at $523,000 after purchasing an additional 261 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Castle Biosciences by 26.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,418 shares of the company’s stock valued at $55,000 after purchasing an additional 297 shares during the period. CWM LLC lifted its stake in shares of Castle Biosciences by 20.5% in the fourth quarter. CWM LLC now owns 2,302 shares of the company’s stock valued at $90,000 after purchasing an additional 391 shares during the period. Finally, HRT Financial LP lifted its stake in shares of Castle Biosciences by 0.9% in the fourth quarter. HRT Financial LP now owns 47,654 shares of the company’s stock valued at $1,853,000 after purchasing an additional 415 shares during the period. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Castle Biosciences Price Performance

Castle Biosciences stock opened at $24.46 on Thursday. Castle Biosciences, Inc. has a 52 week low of $14.59 and a 52 week high of $44.28. The company has a quick ratio of 6.53, a current ratio of 6.75 and a debt-to-equity ratio of 0.02. The firm’s 50-day simple moving average is $22.48 and its 200 day simple moving average is $26.60. The firm has a market capitalization of $741.87 million, a PE ratio of -55.59 and a beta of 1.00.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.49) EPS for the quarter, meeting analysts’ consensus estimates of ($0.49). Castle Biosciences had a negative net margin of 3.78% and a negative return on equity of 2.77%. The firm had revenue of $84.23 million for the quarter, compared to analysts’ expectations of $79.23 million. On average, equities research analysts predict that Castle Biosciences, Inc. will post -1.56 EPS for the current fiscal year.

Analyst Ratings Changes

CSTL has been the topic of several recent analyst reports. Roth Capital started coverage on shares of Castle Biosciences in a research report on Wednesday, June 24th. They set a “buy” rating and a $40.00 target price on the stock. KeyCorp set a $35.00 price target on shares of Castle Biosciences in a research report on Friday, May 29th. Canaccord Genuity Group decreased their price target on Castle Biosciences from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Wall Street Zen lowered Castle Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings cut Castle Biosciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Castle Biosciences has a consensus rating of “Moderate Buy” and an average price target of $42.43.

Insider Activity

In other news, insider Derek J. Maetzold sold 3,622 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $24.16, for a total value of $87,507.52. Following the sale, the insider directly owned 11,812 shares in the company, valued at $285,377.92. This represents a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kristen M. Oelschlager sold 8,586 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $24.42, for a total transaction of $209,670.12. Following the transaction, the chief operating officer directly owned 21,874 shares of the company’s stock, valued at approximately $534,163.08. This trade represents a 28.19% 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. Insiders sold 55,025 shares of company stock worth $1,252,199 in the last ninety days. Insiders own 6.10% of the company’s stock.

Castle Biosciences Company 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.