Eventide Asset Management LLC Acquires Shares of 305,000 Castle Biosciences, Inc. $CSTL

Eventide Asset Management LLC acquired a new stake in Castle Biosciences, Inc. (NASDAQ:CSTL) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 305,000 shares of the company’s stock, valued at approximately $11,864,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Portolan Capital Management LLC increased its stake in Castle Biosciences by 1.7% in the 3rd quarter. Portolan Capital Management LLC now owns 1,515,111 shares of the company’s stock valued at $34,499,000 after buying an additional 25,539 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Castle Biosciences in the 3rd quarter valued at about $667,000. Fox Run Management L.L.C. purchased a new stake in Castle Biosciences in the 3rd quarter valued at about $315,000. Capstone Capital Management Ltd purchased a new stake in Castle Biosciences in the 4th quarter valued at about $251,000. Finally, Pictet Asset Management Holding SA purchased a new stake in Castle Biosciences in the 4th quarter valued at about $229,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Insider Activity at Castle Biosciences

In other news, insider Derek J. Maetzold sold 18,650 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $25.93, for a total value of $483,594.50. Following the completion of the transaction, the insider directly owned 22,129 shares of the company’s stock, valued at $573,804.97. This trade represents a 45.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 47,316 shares of company stock valued at $1,152,954 over the last three months. 6.10% of the stock is owned by company insiders.

Castle Biosciences Price Performance

Castle Biosciences stock opened at $20.70 on Monday. Castle Biosciences, Inc. has a twelve month low of $14.59 and a twelve month high of $44.28. The firm has a 50 day moving average price of $22.16 and a 200-day moving average price of $30.32. The company has a market capitalization of $627.83 million, a P/E ratio of -47.05 and a beta of 1.04. The company has a quick ratio of 6.53, a current ratio of 6.75 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last posted its earnings results on Wednesday, May 6th. The company reported ($0.49) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.49). Castle Biosciences had a negative return on equity of 2.77% and a negative net margin of 3.78%.The firm had revenue of $84.23 million for the quarter, compared to the consensus estimate of $79.23 million. As a group, equities analysts predict that Castle Biosciences, Inc. will post -1.4 EPS for the current year.

Analysts Set New Price Targets

CSTL has been the subject of several analyst reports. Zacks Research lowered shares of Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. KeyCorp set a $35.00 price objective on shares of Castle Biosciences in a research note on Friday, May 29th. Wall Street Zen downgraded shares of Castle Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Morgan Stanley raised shares of Castle Biosciences to a “buy” rating in a research report on Monday, March 2nd. Finally, Robert W. Baird reduced their target price on shares of Castle Biosciences from $44.00 to $43.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Castle Biosciences presently has an average rating of “Moderate Buy” and an average target price 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.