Portolan Capital Management LLC Sells 479,049 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

Portolan Capital Management LLC cut its position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 38.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 776,579 shares of the company's stock after selling 479,049 shares during the quarter. Castle Biosciences accounts for 1.4% of Portolan Capital Management LLC's portfolio, making the stock its 20th largest position. Portolan Capital Management LLC owned about 2.77% of Castle Biosciences worth $20,696,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Covestor Ltd acquired a new stake in shares of Castle Biosciences during the 4th quarter valued at $25,000. R Squared Ltd purchased a new stake in shares of Castle Biosciences during the fourth quarter valued at $42,000. KLP Kapitalforvaltning AS acquired a new position in shares of Castle Biosciences in the 4th quarter valued at $128,000. China Universal Asset Management Co. Ltd. increased 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 in the last quarter. Finally, Oak Harvest Investment Services acquired a new stake in shares of Castle Biosciences during the fourth quarter valued at approximately $206,000. Institutional investors and hedge funds own 92.60% of the company's stock.

Insider Activity at Castle Biosciences

In other news, Director Daniel Bradbury sold 7,867 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $28.17, for a total value of $221,613.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Derek J. Maetzold sold 22,639 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $20.12, for a total transaction of $455,496.68. Following the completion of the transaction, the insider now owns 80,465 shares in the company, valued at $1,618,955.80. The trade was a 21.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,085 shares of company stock valued at $748,045. Corporate insiders own 7.20% of the company's stock.

Castle Biosciences Stock Up 1.2 %

Shares of CSTL stock traded up $0.25 on Friday, hitting $21.51. The company's stock had a trading volume of 454,033 shares, compared to its average volume of 381,424. The stock has a market capitalization of $620.33 million, a price-to-earnings ratio of 107.56 and a beta of 1.11. The firm's fifty day moving average price is $21.79 and its 200-day moving average price is $26.90. Castle Biosciences, Inc. has a fifty-two week low of $16.97 and a fifty-two week high of $35.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64.

Analyst Upgrades and Downgrades

CSTL has been the topic of several research analyst reports. Robert W. Baird lifted their target price on Castle Biosciences from $36.00 to $37.00 and gave the company an "outperform" rating in a research note on Friday, February 28th. Guggenheim set a $30.00 target price on shares of Castle Biosciences and gave the stock a "buy" rating in a research report on Friday, March 28th. Finally, Stephens reaffirmed an "overweight" rating and issued a $41.00 price target on shares of Castle Biosciences in a research note on Thursday, January 2nd. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $38.75.

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.