Principal Financial Group Inc. lifted its position in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 2.7% during 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 purchasing an additional 40,377 shares during the period. Principal Financial Group Inc. owned about 5.49% of Castle Biosciences worth $43,879,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in CSTL. Point72 Asset Management L.P. grew its holdings in Castle Biosciences by 828.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 499,192 shares of the company's stock worth $14,237,000 after acquiring an additional 445,415 shares during the last quarter. Marshall Wace LLP raised its position in Castle Biosciences by 116.5% during the 2nd quarter. Marshall Wace LLP now owns 212,036 shares of the company's stock valued at $4,616,000 after purchasing an additional 114,104 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Castle Biosciences by 147.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,458 shares of the company's stock valued at $4,719,000 after purchasing an additional 98,571 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Castle Biosciences by 47.3% in the 2nd quarter. Renaissance Technologies LLC now owns 301,500 shares of the company's stock worth $6,564,000 after buying an additional 96,800 shares during the period. Finally, Lisanti Capital Growth LLC bought a new stake in shares of Castle Biosciences in the 2nd quarter worth approximately $2,102,000. 92.60% of the stock is owned by hedge funds and other institutional investors.
Castle Biosciences stock opened at $27.53 on Monday. The stock's 50 day moving average is $31.10 and its 200 day moving average is $27.25. The company has a market capitalization of $771.03 million, a P/E ratio of 137.66 and a beta of 0.92. Castle Biosciences, Inc. has a twelve month low of $16.97 and a twelve 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.
Castle Biosciences (NASDAQ:CSTL - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.14. The firm 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 period last year, the company earned ($0.26) earnings per share. On average, equities research analysts predict that Castle Biosciences, Inc. will post 0.34 earnings per share for the current fiscal year.
CSTL has been the topic of several recent analyst reports. Canaccord Genuity Group lifted their price target 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. Lake Street Capital raised their price objective on shares of Castle Biosciences from $34.00 to $40.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Scotiabank upped their target price on Castle Biosciences from $37.00 to $44.00 and gave the stock a "sector outperform" rating in a report on Wednesday, November 6th. BTIG Research raised their target price on Castle Biosciences from $35.00 to $40.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Finally, KeyCorp upped their price target 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 equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $39.71.
Read Our Latest Research Report on CSTL
In other news, Director Daniel Bradbury sold 7,867 shares of the company's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $29.44, for a total transaction of $231,604.48. Following the transaction, the director now directly owns 5,700 shares of the company's stock, valued at $167,808. This represents a 57.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Derek J. Maetzold sold 9,364 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $28.34, for a total value of $265,375.76. Following the sale, the insider now directly owns 84,762 shares in the company, valued at $2,402,155.08. This trade represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,549 shares of company stock valued at $1,079,871. Insiders own 7.20% of the company's stock.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Castle Biosciences, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Castle Biosciences wasn't on the list.
While Castle Biosciences currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.