Bellevue Group AG Sells 12,293 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

Bellevue Group AG cut its holdings in Castle Biosciences, Inc. (NASDAQ:CSTL) by 1.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,220,085 shares of the company’s stock after selling 12,293 shares during the period. Bellevue Group AG owned about 4.42% of Castle Biosciences worth $27,025,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. RiverPark Advisors LLC increased its holdings in Castle Biosciences by 362.2% during the first quarter. RiverPark Advisors LLC now owns 2,861 shares of the company’s stock worth $63,000 after buying an additional 2,242 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Castle Biosciences by 351.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,110 shares of the company’s stock worth $67,000 after purchasing an additional 2,421 shares during the period. Assetmark Inc. lifted its stake in Castle Biosciences by 21.3% in the fourth quarter. Assetmark Inc. now owns 4,736 shares of the company’s stock valued at $102,000 after purchasing an additional 832 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Castle Biosciences by 943.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,739 shares of the company’s stock valued at $124,000 after purchasing an additional 5,189 shares during the period. Finally, WuXi AppTec Co. Ltd. purchased a new stake in Castle Biosciences in the fourth quarter worth $143,000. 92.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Castle Biosciences

In other news, insider Derek J. Maetzold sold 2,368 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $24.72, for a total value of $58,536.96. Following the transaction, the insider now owns 62,629 shares of the company’s stock, valued at approximately $1,548,188.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Castle Biosciences news, insider Derek J. Maetzold sold 2,368 shares of Castle Biosciences stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $24.72, for a total transaction of $58,536.96. Following the completion of the sale, the insider now owns 62,629 shares of the company’s stock, valued at $1,548,188.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel Bradbury sold 23,323 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $24.64, for a total value of $574,678.72. Following the transaction, the director now owns 9,981 shares in the company, valued at $245,931.84. The disclosure for this sale can be found here. Insiders have sold a total of 28,059 shares of company stock valued at $688,627 in the last 90 days. Corporate insiders own 7.20% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird reaffirmed an “outperform” rating and set a $34.00 price target on shares of Castle Biosciences in a research report on Friday, July 5th.

Castle Biosciences Stock Performance

Castle Biosciences stock traded up $1.75 during mid-day trading on Friday, reaching $21.06. The company’s stock had a trading volume of 498,401 shares, compared to its average volume of 388,066. Castle Biosciences, Inc. has a 12-month low of $12.07 and a 12-month high of $25.91. The firm’s fifty day moving average price is $21.61 and its two-hundred day moving average price is $21.74. The company has a debt-to-equity ratio of 0.02, a quick ratio of 9.02 and a current ratio of 9.25. The company has a market capitalization of $581.47 million, a P/E ratio of -18.31 and a beta of 0.93.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.28. Castle Biosciences had a negative net margin of 12.28% and a negative return on equity of 7.91%. The company had revenue of $72.97 million during the quarter, compared to analysts’ expectations of $68.34 million. Sell-side analysts predict that Castle Biosciences, Inc. will post -1.66 EPS for the current fiscal year.

Castle Biosciences Profile

Castle Biosciences, Inc, a molecular diagnostics company, provides testing solutions for the diagnosis and treatment of dermatologic cancers, Barrett's esophagus, uveal melanoma, and mental health conditions. It offers DecisionDx-Melanoma, a risk stratification gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma; DecisionDx-SCC, a proprietary risk stratification GEP test for patients with cutaneous squamous cell carcinoma; MyPath Melanoma, a test used for patients with difficult-to-diagnose melanocytic lesions; and TissueCypher, a spatial omics test to predict future development of high-grade dysplasia and/or esophageal cancer in patients with non-dysplastic, indefinite dysplasia, or low-grade dysplasia Barrett's esophagus.