Castle Biosciences, Inc. (NASDAQ:CSTL) Stock Position Lifted by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 2.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,538,520 shares of the company's stock after acquiring an additional 40,377 shares during the period. Principal Financial Group Inc. owned 5.49% of Castle Biosciences worth $43,879,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Bellevue Group AG grew its position in Castle Biosciences by 3.7% in the 3rd quarter. Bellevue Group AG now owns 1,262,030 shares of the company's stock worth $35,993,000 after purchasing an additional 44,929 shares during the last quarter. Portolan Capital Management LLC grew its holdings in Castle Biosciences by 3.7% in the 3rd quarter. Portolan Capital Management LLC now owns 1,255,628 shares of the company's stock worth $35,811,000 after buying an additional 44,676 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Castle Biosciences by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 809,934 shares of the company's stock worth $17,631,000 after buying an additional 60,675 shares in the last quarter. State Street Corp increased its position in Castle Biosciences by 9.8% in the 3rd quarter. State Street Corp now owns 680,001 shares of the company's stock valued at $19,394,000 after acquiring an additional 60,924 shares during the period. Finally, Geode Capital Management LLC raised its stake in Castle Biosciences by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 624,683 shares of the company's stock valued at $17,820,000 after acquiring an additional 7,004 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company's stock.

Insider Buying and Selling

In related news, insider Derek J. Maetzold sold 986 shares of the firm's stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $28.73, for a total value of $28,327.78. Following the completion of the transaction, the insider now owns 94,622 shares of the company's stock, valued at approximately $2,718,490.06. This trade represents a 1.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tobin W. Juvenal sold 3,507 shares of the business'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 directly owns 54,178 shares in the company, valued at approximately $1,926,569.68. This trade represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,549 shares of company stock valued at $1,079,871. 7.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on CSTL. Lake Street Capital increased their price target on Castle Biosciences from $34.00 to $40.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. BTIG Research increased their target price on shares of Castle Biosciences from $35.00 to $40.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Scotiabank boosted their price target on shares of Castle Biosciences from $37.00 to $44.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, November 6th. Canaccord Genuity Group increased their price objective on shares of Castle Biosciences from $35.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, October 29th. Finally, Robert W. Baird boosted their target price on Castle Biosciences from $37.00 to $39.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $39.71.

Castle Biosciences Price Performance

Shares of CSTL traded down $0.05 during mid-day trading on Monday, hitting $27.48. The company's stock had a trading volume of 207,609 shares, compared to its average volume of 326,305. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64. The firm has a 50-day moving average price of $31.10 and a 200 day moving average price of $27.28. Castle Biosciences, Inc. has a fifty-two week low of $16.97 and a fifty-two week high of $35.84. The stock has a market capitalization of $769.63 million, a price-to-earnings ratio of 137.41 and a beta of 0.92.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.08 earnings per share 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 analyst estimates of $78.55 million. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. During the same period last year, the company posted ($0.26) EPS. On average, research analysts predict that Castle Biosciences, Inc. will post 0.34 EPS for the current fiscal year.

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.