Principal Financial Group Inc. Purchases 32,208 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

Principal Financial Group Inc. boosted its position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 2.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,467,873 shares of the company's stock after purchasing an additional 32,208 shares during the quarter. Principal Financial Group Inc. owned about 5.09% of Castle Biosciences worth $29,387,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CSTL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Castle Biosciences by 4.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,786 shares of the company's stock worth $394,000 after acquiring an additional 608 shares during the period. Invesco Ltd. boosted its holdings in Castle Biosciences by 2.3% in the fourth quarter. Invesco Ltd. now owns 27,534 shares of the company's stock worth $734,000 after purchasing an additional 616 shares during the last quarter. Teacher Retirement System of Texas grew its position in Castle Biosciences by 9.6% in the 1st quarter. Teacher Retirement System of Texas now owns 10,383 shares of the company's stock worth $208,000 after purchasing an additional 908 shares during the period. Covestor Ltd purchased a new stake in Castle Biosciences during the 4th quarter valued at $25,000. Finally, Next Century Growth Investors LLC lifted its holdings in shares of Castle Biosciences by 0.5% during the 4th quarter. Next Century Growth Investors LLC now owns 235,214 shares of the company's stock valued at $6,268,000 after buying an additional 1,123 shares during the period. 92.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CSTL has been the subject of several research analyst reports. Scotiabank cut their price objective on Castle Biosciences from $44.00 to $40.00 and set a "sector outperform" rating for the company in a report on Wednesday, May 21st. Lake Street Capital cut their price target on Castle Biosciences from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Guggenheim set a $30.00 price target on shares of Castle Biosciences and gave the company a "buy" rating in a research report on Friday, March 28th. Finally, Canaccord Genuity Group decreased their price target on shares of Castle Biosciences from $42.00 to $37.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, Castle Biosciences presently has an average rating of "Buy" and an average target price of $37.00.

Castle Biosciences Stock Performance

NASDAQ CSTL traded down $0.18 on Friday, reaching $19.66. 284,050 shares of the stock were exchanged, compared to its average volume of 422,211. The firm has a market capitalization of $567.58 million, a PE ratio of -103.47 and a beta of 1.10. Castle Biosciences, Inc. has a one year low of $15.45 and a one year high of $35.84. The company's 50-day simple moving average is $18.00 and its two-hundred day simple moving average is $21.76. The company has a current ratio of 9.37, a quick ratio of 9.19 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.12). Castle Biosciences had a positive return on equity of 3.41% and a negative net margin of 1.46%. The business had revenue of $87.99 million during the quarter, compared to analysts' expectations of $80.40 million. Analysts expect that Castle Biosciences, Inc. will post 0.44 EPS for the current fiscal year.

Insider Activity at Castle Biosciences

In related news, insider Derek J. Maetzold sold 1,236 shares of the firm's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $21.52, for a total transaction of $26,598.72. Following the completion of the transaction, the insider directly owned 74,627 shares of the company's stock, valued at approximately $1,605,973.04. This trade represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 6.50% 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.