Portolan Capital Management LLC Has $34.50 Million Stock Position in Castle Biosciences, Inc. $CSTL

Portolan Capital Management LLC raised its holdings in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 1.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,515,111 shares of the company’s stock after acquiring an additional 25,539 shares during the quarter. Castle Biosciences makes up approximately 1.9% of Portolan Capital Management LLC’s holdings, making the stock its 15th biggest position. Portolan Capital Management LLC owned approximately 5.19% of Castle Biosciences worth $34,499,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Glenmede Investment Management LP acquired a new position in Castle Biosciences during the third quarter worth $232,000. BNP Paribas Financial Markets increased its stake in Castle Biosciences by 40.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 139,914 shares of the company’s stock valued at $3,186,000 after buying an additional 40,621 shares during the last quarter. Franklin Resources Inc. lifted its position in Castle Biosciences by 0.5% during the 3rd quarter. Franklin Resources Inc. now owns 99,787 shares of the company’s stock worth $2,272,000 after buying an additional 540 shares in the last quarter. Magnetar Financial LLC bought a new stake in Castle Biosciences during the 3rd quarter worth about $235,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Castle Biosciences by 63.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,508 shares of the company’s stock worth $57,000 after buying an additional 976 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. BTIG Research raised their price objective on Castle Biosciences from $38.00 to $50.00 and gave the company a “buy” rating in a report on Friday, December 12th. Zacks Research lowered Castle Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of Castle Biosciences in a research report on Monday, December 29th. KeyCorp restated an “overweight” rating and issued a $50.00 price target on shares of Castle Biosciences in a research note on Thursday, January 29th. Finally, Guggenheim boosted their price target on Castle Biosciences from $43.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $47.57.

Insiders Place Their Bets

In other Castle Biosciences news, Director G Bradley Cole sold 7,403 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $28.47, for a total transaction of $210,763.41. Following the completion of the sale, the director owned 19,309 shares of the company’s stock, valued at $549,727.23. This trade represents a 27.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Kristen M. Oelschlager sold 14,888 shares of Castle Biosciences stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $39.31, for a total transaction of $585,247.28. Following the transaction, the chief operating officer directly owned 12,323 shares of the company’s stock, valued at approximately $484,417.13. This trade represents a 54.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 48,682 shares of company stock valued at $1,685,038. Corporate insiders own 6.50% of the company’s stock.

Castle Biosciences Stock Up 0.9%

Shares of CSTL stock opened at $25.56 on Friday. Castle Biosciences, Inc. has a 52-week low of $14.59 and a 52-week high of $44.28. The stock has a market cap of $759.90 million, a price-to-earnings ratio of -30.07 and a beta of 1.09. The firm’s 50-day moving average is $34.64 and its 200-day moving average is $31.61. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.11 and a current ratio of 5.26.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.15. The business had revenue of $81.88 million during the quarter, compared to analysts’ expectations of $81.19 million. Castle Biosciences had a negative return on equity of 0.89% and a negative net margin of 7.02%. Sell-side analysts predict that Castle Biosciences, Inc. will post 0.44 EPS 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.