Parkman Healthcare Partners LLC Invests $3.45 Million in Castle Biosciences, Inc. $CSTL

Key Points

• Parkman Healthcare Partners purchased 144,791 Castle Biosciences shares worth approximately $3.45 million, representing about 0.47% of the company. Institutional investors collectively own 92.6% of CSTL.
• Company insiders sold 136,305 shares worth approximately $3.84 million over the past 90 days, including sizable sales by executives Tobin W. Juvenal and Derek J. Maetzold under pre-arranged Rule 10b5-1 plans.
• Castle Biosciences reported quarterly revenue of $99.86 million and a loss of $0.07 per share, beating analyst estimates. Analysts maintain a consensus “Moderate Buy” rating with a $42 target price, compared with a recent share price of $33.47.

Parkman Healthcare Partners LLC bought a new stake in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 144,791 shares of the company's stock, valued at approximately $3,453,000. Parkman Healthcare Partners LLC owned about 0.47% of Castle Biosciences as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of CSTL. Global Retirement Partners LLC bought a new position in shares of Castle Biosciences during the 2nd quarter worth approximately $26,000. Federated Hermes Inc. acquired a new position in Castle Biosciences during the fourth quarter worth $26,000. Kemnay Advisory Services Inc. bought a new position in Castle Biosciences in the fourth quarter valued at $35,000. Jones Financial Companies Lllp grew its position in Castle Biosciences by 10,592.0% in the first quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company's stock valued at $54,000 after purchasing an additional 2,648 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Castle Biosciences by 26.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,418 shares of the company's stock valued at $55,000 after buying an additional 297 shares during the last quarter. Institutional investors own 92.60% of the company's stock.

Insider Buying and Selling

In other news, insider Tobin W. Juvenal sold 17,310 shares of the firm's stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $29.31, for a total value of $507,356.10. Following the completion of the sale, the insider directly owned 80,725 shares of the company's stock, valued at $2,366,049.75. This trade represents a 17.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Derek J. Maetzold sold 20,356 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $31.11, for a total value of $633,275.16. Following the completion of the sale, the insider directly owned 21,479 shares of the company's stock, valued at approximately $668,211.69. The trade was a 48.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 136,305 shares of company stock worth $3,841,714. Company insiders own 6.10% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on CSTL shares. Weiss Ratings raised shares of Castle Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, July 31st. Zacks Research cut Castle Biosciences from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Robert W. Baird set a $36.00 target price on Castle Biosciences in a research report on Friday, July 31st. KeyCorp set a $35.00 price target on Castle Biosciences in a research note on Friday, May 29th. Finally, Wall Street Zen raised Castle Biosciences from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.00.

Castle Biosciences Stock Performance

Shares of CSTL stock opened at $33.47 on Tuesday. The company has a fifty day moving average price of $26.16 and a two-hundred day moving average price of $25.39. Castle Biosciences, Inc. has a one year low of $17.72 and a one year high of $44.28. The stock has a market cap of $1.02 billion, a P/E ratio of -50.71 and a beta of 0.98. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.04 and a quick ratio of 5.85.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.34. The company had revenue of $99.86 million for the quarter, compared to analyst estimates of $86.23 million. Castle Biosciences had a negative net margin of 5.43% and a negative return on equity of 4.15%. As a group, equities analysts predict that Castle Biosciences, Inc. will post -1.29 EPS for the current year.

Castle Biosciences Company Profile

Castle Biosciences, Inc is a molecular diagnostics company specializing in the development and commercialization of prognostic and diagnostic tests for patients with dermatologic conditions. The company's proprietary portfolio of genomic assays is designed to improve risk assessment and guide clinical decision-making for individuals with skin cancers and other skin-related diseases. By combining genomic data with advanced statistical algorithms, Castle Biosciences seeks to provide actionable insights that help physicians tailor treatment plans and monitoring strategies.

The company's flagship test, DecisionDx-Melanoma, evaluates the probability of metastasis in patients diagnosed with cutaneous melanoma, supporting more personalized surveillance and therapeutic approaches.

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