Parkman Healthcare Partners LLC Purchases 18,176 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

Parkman Healthcare Partners LLC lifted its position in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 6.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 296,071 shares of the company's stock after acquiring an additional 18,176 shares during the period. Parkman Healthcare Partners LLC owned about 1.06% of Castle Biosciences worth $8,444,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its position in Castle Biosciences by 2.7% during the third quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company's stock valued at $43,879,000 after purchasing an additional 40,377 shares in the last quarter. Vanguard Group Inc. grew its holdings 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 valued at $33,096,000 after acquiring an additional 32,695 shares in the last quarter. Bellevue Group AG grew its holdings in shares of Castle Biosciences by 3.7% during the 3rd quarter. Bellevue Group AG now owns 1,262,030 shares of the company's stock valued at $35,993,000 after acquiring an additional 44,929 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Castle Biosciences by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 809,934 shares of the company's stock valued at $17,631,000 after acquiring an additional 60,675 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Castle Biosciences by 47.3% during the 2nd quarter. Renaissance Technologies LLC now owns 301,500 shares of the company's stock valued at $6,564,000 after acquiring an additional 96,800 shares in the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Castle Biosciences Stock Performance

Shares of CSTL stock traded up $1.10 during mid-day trading on Wednesday, reaching $31.88. The stock had a trading volume of 241,321 shares, compared to its average volume of 325,979. The firm has a market cap of $892.96 million, a PE ratio of 153.91 and a beta of 0.92. Castle Biosciences, Inc. has a one year low of $16.97 and a one year high of $35.84. The firm's 50 day simple moving average is $30.98 and its 200 day simple moving average is $26.81. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.14. The business had revenue of $85.78 million during the quarter, compared to the consensus estimate of $78.55 million. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. During the same quarter last year, the company earned ($0.26) EPS. On average, analysts forecast that Castle Biosciences, Inc. will post -0.08 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on CSTL. Robert W. Baird boosted their target price on Castle Biosciences from $37.00 to $39.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. KeyCorp upped their price objective on shares of Castle Biosciences from $28.00 to $36.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Canaccord Genuity Group upped their price objective on shares of Castle Biosciences from $35.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, October 29th. Scotiabank upped their price target on Castle Biosciences from $37.00 to $44.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, November 6th. Finally, Stephens reaffirmed an "overweight" rating and set a $37.00 target price on shares of Castle Biosciences in a research report on Tuesday, August 6th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, Castle Biosciences has an average rating of "Buy" and an average target price of $37.88.

Insider Activity

In other Castle Biosciences news, CFO Frank Stokes sold 6,923 shares of the company's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $29.93, for a total transaction of $207,205.39. Following the completion of the sale, the chief financial officer now owns 30,823 shares in the company, valued at approximately $922,532.39. The trade was a 18.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Tobin W. Juvenal sold 3,507 shares of the company's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $35.56, for a total transaction of $124,708.92. Following the sale, the insider now owns 54,178 shares of the company's stock, valued at $1,926,569.68. The trade was a 6.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,213 shares of company stock worth $752,673. Insiders own 7.20% of the company's stock.

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.