Summit Global Investments Sells 1,965 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

Summit Global Investments lowered its stake in Castle Biosciences, Inc. (NASDAQ:CSTL) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,476 shares of the company’s stock after selling 1,965 shares during the quarter. Summit Global Investments owned approximately 0.10% of Castle Biosciences worth $759,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Algert Global LLC boosted its stake in Castle Biosciences by 0.4% in the 3rd quarter. Algert Global LLC now owns 134,321 shares of the company’s stock worth $3,831,000 after purchasing an additional 599 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in Castle Biosciences by 11.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,939 shares of the company’s stock worth $158,000 after purchasing an additional 604 shares during the period. Y Intercept Hong Kong Ltd boosted its stake in Castle Biosciences by 3.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 24,206 shares of the company’s stock worth $690,000 after purchasing an additional 845 shares during the period. Truist Financial Corp boosted its stake in Castle Biosciences by 4.6% in the 4th quarter. Truist Financial Corp now owns 21,303 shares of the company’s stock worth $568,000 after purchasing an additional 928 shares during the period. Finally, Bailard Inc. boosted its stake in Castle Biosciences by 12.5% in the 4th quarter. Bailard Inc. now owns 9,900 shares of the company’s stock worth $264,000 after purchasing an additional 1,100 shares during the period. Institutional investors own 92.60% of the company’s stock.

Castle Biosciences Stock Performance

Shares of NASDAQ CSTL opened at $20.52 on Monday. The stock has a market cap of $574.70 million, a price-to-earnings ratio of 102.61 and a beta of 0.98. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a 1-year low of $16.97 and a 1-year high of $35.84. The stock’s 50-day moving average is $24.69 and its 200 day moving average is $28.31.

Analyst Ratings Changes

Several research analysts have commented on the company. Robert W. Baird raised their target price on Castle Biosciences from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Stephens reaffirmed an “overweight” rating and issued a $41.00 price target on shares of Castle Biosciences in a report on Thursday, January 2nd. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Castle Biosciences presently has an average rating of “Buy” and an average price target of $40.00.

Insider Activity at Castle Biosciences

In related news, insider Derek J. Maetzold sold 22,639 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $20.12, for a total transaction of $455,496.68. Following the transaction, the insider now directly owns 80,465 shares of the company’s stock, valued at approximately $1,618,955.80. This trade represents a 21.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel Bradbury sold 7,867 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $29.14, for a total value of $229,244.38. Following the transaction, the director now directly owns 1,425 shares in the company, valued at approximately $41,524.50. This represents a 84.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,204 shares of company stock valued at $1,055,988. Corporate insiders own 7.20% of the company’s stock.

Castle Biosciences Company 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.