State Board of Administration of Florida Retirement System Sells 5,510 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

State Board of Administration of Florida Retirement System trimmed its stake in shares of Castle Biosciences, Inc. (NASDAQ:CSTL – Get Rating) by 33.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,954 shares of the company’s stock after selling 5,510 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Castle Biosciences were worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in CSTL. Essex Investment Management Co. LLC increased its holdings in Castle Biosciences by 3.8% in the fourth quarter. Essex Investment Management Co. LLC now owns 453,317 shares of the company’s stock worth $10,671,000 after purchasing an additional 16,682 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its holdings in Castle Biosciences by 14.7% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 716,244 shares of the company’s stock worth $16,860,000 after purchasing an additional 92,048 shares in the last quarter. Legato Capital Management LLC acquired a new stake in Castle Biosciences in the fourth quarter valued at approximately $435,000. New York State Common Retirement Fund grew its stake in Castle Biosciences by 4.5% in the fourth quarter. New York State Common Retirement Fund now owns 214,478 shares of the company’s stock valued at $5,049,000 after acquiring an additional 9,244 shares during the period. Finally, Versor Investments LP grew its stake in Castle Biosciences by 25.0% in the fourth quarter. Versor Investments LP now owns 11,275 shares of the company’s stock valued at $265,000 after acquiring an additional 2,258 shares during the period. 82.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Derek J. Maetzold sold 1,538 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $23.45, for a total value of $36,066.10. Following the transaction, the insider now directly owns 150,443 shares in the company, valued at $3,527,888.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Derek J. Maetzold sold 1,538 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $23.45, for a total value of $36,066.10. Following the sale, the insider now directly owns 150,443 shares in the company, valued at $3,527,888.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel Bradbury sold 11,349 shares of the business’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $23.30, for a total value of $264,431.70. Following the completion of the sale, the director now owns 90,510 shares in the company, valued at $2,108,883. The disclosure for this sale can be found here. Insiders sold 56,874 shares of company stock valued at $1,273,115 over the last 90 days. Company insiders own 7.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CSTL. Robert W. Baird reduced their price objective on Castle Biosciences from $38.00 to $35.00 in a research note on Thursday, May 4th. Lake Street Capital cut their target price on Castle Biosciences from $63.00 to $41.00 in a research report on Wednesday, March 1st. Finally, Stephens reaffirmed an “overweight” rating and set a $41.00 target price on shares of Castle Biosciences in a research report on Thursday, March 2nd.

Castle Biosciences Stock Up 4.7 %

CSTL opened at $24.61 on Monday. The stock has a market cap of $656.84 million, a PE ratio of -9.08 and a beta of 1.02. The business has a 50 day moving average of $22.59 and a 200-day moving average of $23.50. Castle Biosciences, Inc. has a 52 week low of $15.58 and a 52 week high of $36.10.

Castle Biosciences (NASDAQ:CSTL – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The company reported ($0.78) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.13. The business had revenue of $38.34 million during the quarter, compared to analysts’ expectations of $36.53 million. Castle Biosciences had a negative return on equity of 17.74% and a negative net margin of 47.11%. Equities analysts anticipate that Castle Biosciences, Inc. will post -3.6 EPS for the current year.

About Castle Biosciences

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Castle Biosciences, Inc is a commercial-stage dermatological cancer company, which engages in the provision of genomic information for physicians and patients. The firm offers DecisionDx-Melanoma, a proprietary multi-gene expression profile (GEP) test that predicts the risk of metastasis and recurrence for patients diagnosed with invasive cutaneous melanoma.