Vanguard Group Inc. Purchases 83,783 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

Vanguard Group Inc. grew its position in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,832,535 shares of the company's stock after purchasing an additional 83,783 shares during the period. Vanguard Group Inc. owned about 6.54% of Castle Biosciences worth $48,837,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CSTL. Fox Run Management L.L.C. acquired a new stake in Castle Biosciences during the 4th quarter worth $286,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Castle Biosciences during the fourth quarter worth about $128,000. Sei Investments Co. lifted its holdings in shares of Castle Biosciences by 9.6% during the 4th quarter. Sei Investments Co. now owns 41,491 shares of the company's stock valued at $1,106,000 after purchasing an additional 3,617 shares in the last quarter. American Century Companies Inc. grew its position in shares of Castle Biosciences by 28.1% in the 4th quarter. American Century Companies Inc. now owns 69,175 shares of the company's stock valued at $1,844,000 after purchasing an additional 15,192 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in shares of Castle Biosciences in the 4th quarter valued at approximately $253,000. 92.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Castle Biosciences Stock Up 0.9 %

Shares of Castle Biosciences stock traded up $0.19 on Thursday, reaching $21.45. 116,907 shares of the company were exchanged, compared to its average volume of 431,075. Castle Biosciences, Inc. has a one year low of $16.97 and a one year high of $35.84. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average of $21.92 and a 200 day moving average of $26.95. The company has a market capitalization of $618.60 million, a price-to-earnings ratio of 107.24 and a beta of 1.11.

Insider Activity

In related news, insider Derek J. Maetzold sold 1,236 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $20.30, for a total value of $25,090.80. Following the sale, the insider now owns 77,099 shares in the company, valued at approximately $1,565,109.70. This represents a 1.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel Bradbury sold 7,867 shares of Castle Biosciences stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $28.17, for a total transaction of $221,613.39. The disclosure for this sale can be found here. Insiders sold a total of 34,085 shares of company stock valued at $748,045 in the last quarter. Company 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.