Principal Financial Group Inc. Has $38.26 Million Stock Position in Castle Biosciences, Inc. (NASDAQ:CSTL)

Principal Financial Group Inc. decreased its position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,435,665 shares of the company's stock after selling 102,855 shares during the period. Principal Financial Group Inc. owned 5.13% of Castle Biosciences worth $38,260,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CSTL. Bellevue Group AG lifted its position in shares of Castle Biosciences by 3.7% in the third quarter. Bellevue Group AG now owns 1,262,030 shares of the company's stock worth $35,993,000 after buying an additional 44,929 shares during the last quarter. Portolan Capital Management LLC lifted its position in shares of Castle Biosciences by 3.7% in the third 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 during the last quarter. State Street Corp lifted its position in shares of Castle Biosciences by 9.8% in the third quarter. State Street Corp now owns 680,001 shares of the company's stock worth $19,394,000 after buying an additional 60,924 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Castle Biosciences by 1.1% in the third quarter. Geode Capital Management LLC now owns 624,683 shares of the company's stock worth $17,820,000 after buying an additional 7,004 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in shares of Castle Biosciences by 828.3% in the third quarter. Point72 Asset Management L.P. now owns 499,192 shares of the company's stock worth $14,237,000 after buying an additional 445,415 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company's stock.

Castle Biosciences Trading Down 1.5 %

Shares of CSTL opened at $25.75 on Friday. Castle Biosciences, Inc. has a 12-month low of $16.97 and a 12-month high of $35.84. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $721.26 million, a price-to-earnings ratio of 128.76 and a beta of 0.91. The stock's 50-day moving average price is $27.53 and its 200 day moving average price is $29.23.

Wall Street Analyst Weigh In

CSTL has been the topic of a number of recent analyst reports. Scotiabank lifted their price objective 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. Robert W. Baird lifted their price objective on Castle Biosciences from $37.00 to $39.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 5th. Lake Street Capital lifted their price objective on Castle Biosciences from $34.00 to $40.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Stephens reiterated an "overweight" rating and issued a $41.00 price objective on shares of Castle Biosciences in a research note on Thursday, January 2nd. Finally, KeyCorp lifted their price objective on Castle Biosciences from $28.00 to $36.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Castle Biosciences presently has a consensus rating of "Buy" and a consensus target price of $40.29.

Insider Activity at Castle Biosciences

In related news, insider Derek J. Maetzold sold 1,972 shares of the business's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $31.35, for a total transaction of $61,822.20. Following the transaction, the insider now directly owns 85,748 shares in the company, valued at $2,688,199.80. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel Bradbury sold 7,867 shares of Castle Biosciences stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $29.14, for a total value of $229,244.38. Following the sale, the director now directly owns 1,425 shares in the company, valued at $41,524.50. The trade was a 84.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,771 shares of company stock worth $886,112 over the last three months. Company insiders own 7.20% of the company's stock.

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.

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