Wellington Management Group LLP Acquires New Position in Castle Biosciences, Inc. (NASDAQ:CSTL)

Wellington Management Group LLP acquired a new position in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 722,120 shares of the company's stock, valued at approximately $19,244,000. Wellington Management Group LLP owned approximately 2.58% of Castle Biosciences as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. R Squared Ltd purchased a new stake in shares of Castle Biosciences in the 4th quarter worth $42,000. KLP Kapitalforvaltning AS bought a new stake in Castle Biosciences during the fourth quarter valued at about $128,000. Point72 DIFC Ltd purchased a new stake in Castle Biosciences in the third quarter worth about $140,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Castle Biosciences by 11.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,939 shares of the company's stock worth $158,000 after buying an additional 604 shares during the period. Finally, Oak Harvest Investment Services purchased a new position in shares of Castle Biosciences during the 4th quarter valued at about $206,000. Hedge funds and other institutional investors own 92.60% of the company's stock.

Insider Buying and Selling

In related news, insider Derek J. Maetzold sold 986 shares of the business's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $28.03, for a total transaction of $27,637.58. Following the completion of the transaction, the insider now owns 80,818 shares in the company, valued at $2,265,328.54. The trade was a 1.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel Bradbury sold 7,867 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 35,071 shares of company stock worth $775,682 in the last three months. 7.20% of the stock is owned by insiders.

Castle Biosciences Stock Up 2.1 %

NASDAQ:CSTL traded up $0.40 during trading hours on Friday, reaching $19.70. The company's stock had a trading volume of 209,020 shares, compared to its average volume of 376,779. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78. The company has a market capitalization of $568.13 million, a P/E ratio of 98.50 and a beta of 1.11. The stock has a 50 day moving average price of $22.34 and a two-hundred day moving average price of $27.10. Castle Biosciences, Inc. has a 12 month low of $16.97 and a 12 month high of $35.84.

Analysts Set New Price Targets

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

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.