SG Americas Securities LLC Sells 19,330 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

SG Americas Securities LLC lowered its position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 71.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,659 shares of the company’s stock after selling 19,330 shares during the quarter. SG Americas Securities LLC’s holdings in Castle Biosciences were worth $218,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of CSTL. Vanguard Group Inc. increased its stake in shares of Castle Biosciences by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 1,494,176 shares of the company’s stock worth $33,096,000 after purchasing an additional 32,695 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Castle Biosciences by 130.7% during the 1st quarter. Acadian Asset Management LLC now owns 210,824 shares of the company’s stock worth $4,669,000 after purchasing an additional 119,443 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Castle Biosciences by 249.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 138,707 shares of the company’s stock worth $3,020,000 after purchasing an additional 99,001 shares during the last quarter. Summit Global Investments purchased a new stake in shares of Castle Biosciences during the 2nd quarter worth approximately $518,000. Finally, Inspire Investing LLC purchased a new stake in shares of Castle Biosciences during the 2nd quarter worth approximately $809,000. Institutional investors own 92.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CSTL. Stephens restated an “overweight” rating and set a $37.00 price target on shares of Castle Biosciences in a research note on Tuesday, August 6th. Robert W. Baird raised their price target on shares of Castle Biosciences from $34.00 to $37.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Finally, BTIG Research lifted their price objective on shares of Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $34.00.

Castle Biosciences Stock Performance

NASDAQ CSTL opened at $32.26 on Wednesday. Castle Biosciences, Inc. has a 52-week low of $12.23 and a 52-week high of $34.50. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.92 and a current ratio of 8.12. The company has a market capitalization of $890.60 million, a P/E ratio of -28.05 and a beta of 1.03. The company has a fifty day moving average of $29.72 and a 200-day moving average of $24.76.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.47. The business had revenue of $87.00 million during the quarter, compared to the consensus estimate of $69.95 million. Castle Biosciences had a negative net margin of 1.08% and a negative return on equity of 0.77%. During the same period in the previous year, the firm posted ($0.70) earnings per share. As a group, equities research analysts predict that Castle Biosciences, Inc. will post -0.58 EPS for the current fiscal year.

Insider Activity at Castle Biosciences

In related news, COO Kristen M. Oelschlager sold 2,793 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $22.06, for a total transaction of $61,613.58. Following the transaction, the chief operating officer now owns 145,825 shares in the company, valued at $3,216,899.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Castle Biosciences news, Director Daniel Bradbury sold 7,883 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $26.65, for a total value of $210,081.95. Following the sale, the director now owns 8,550 shares in the company, valued at approximately $227,857.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Kristen M. Oelschlager sold 2,793 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $22.06, for a total transaction of $61,613.58. Following the completion of the sale, the chief operating officer now owns 145,825 shares in the company, valued at approximately $3,216,899.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,476 shares of company stock worth $1,181,637 over the last 90 days. 7.20% of the stock is owned by company insiders.

About Castle Biosciences

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.