Bellevue Group AG Sells 516,048 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

Bellevue Group AG lessened its position in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 40.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 745,982 shares of the company's stock after selling 516,048 shares during the period. Bellevue Group AG owned about 2.66% of Castle Biosciences worth $19,880,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Barclays PLC increased its position in Castle Biosciences by 310.7% in the third quarter. Barclays PLC now owns 52,301 shares of the company's stock worth $1,491,000 after purchasing an additional 39,567 shares during the period. Franklin Resources Inc. raised its stake in shares of Castle Biosciences by 87.3% during the third quarter. Franklin Resources Inc. now owns 69,382 shares of the company's stock worth $1,979,000 after buying an additional 32,344 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Castle Biosciences by 2.7% in the third quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company's stock valued at $43,879,000 after buying an additional 40,377 shares during the period. JPMorgan Chase & Co. boosted its stake in Castle Biosciences by 165.2% in the third quarter. JPMorgan Chase & Co. now owns 69,409 shares of the company's stock valued at $1,980,000 after acquiring an additional 43,241 shares during the last quarter. Finally, Green Alpha Advisors LLC bought a new position in shares of Castle Biosciences in the 4th quarter worth $249,000. Institutional investors own 92.60% of the company's stock.

Insider Transactions at Castle Biosciences

In related news, insider Derek J. Maetzold sold 22,639 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $20.12, for a total value of $455,496.68. Following the transaction, the insider now directly owns 80,465 shares in the company, valued at $1,618,955.80. This trade represents a 21.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel Bradbury sold 7,867 shares of Castle Biosciences stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $28.17, for a total value of $221,613.39. The disclosure for this sale can be found here. Insiders have sold 35,321 shares of company stock valued at $774,644 in the last 90 days. 7.20% of the stock is currently owned by corporate insiders.

Castle Biosciences Trading Down 11.4 %

NASDAQ CSTL traded down $2.13 during mid-day trading on Tuesday, reaching $16.62. 1,562,868 shares of the stock were exchanged, compared to its average volume of 398,910. The stock has a market cap of $479.40 million, a P/E ratio of 83.10 and a beta of 1.19. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64. Castle Biosciences, Inc. has a one year low of $15.70 and a one year high of $35.84. The stock has a 50 day simple moving average of $20.11 and a 200-day simple moving average of $25.93.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.12). The company had revenue of $87.99 million during the quarter, compared to the consensus estimate of $80.40 million. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. On average, analysts anticipate that Castle Biosciences, Inc. will post 0.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Lake Street Capital decreased their target price on Castle Biosciences from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday. Guggenheim set a $30.00 price objective on Castle Biosciences and gave the stock a "buy" rating in a research note on Friday, March 28th. Canaccord Genuity Group cut their price target on shares of Castle Biosciences from $42.00 to $37.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, Robert W. Baird boosted their price objective on shares of Castle Biosciences from $36.00 to $37.00 and gave the stock an "outperform" rating in a research note on Friday, February 28th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $37.50.

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.