722,120 Shares in Castle Biosciences, Inc. (NASDAQ:CSTL) Bought by Wellington Management Group LLP

Wellington Management Group LLP bought a new position in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 722,120 shares of the company's stock, valued at approximately $19,244,000. Wellington Management Group LLP owned 2.58% of Castle Biosciences as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its position in 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 valued at $158,000 after purchasing an additional 604 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Castle Biosciences by 4.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,786 shares of the company's stock worth $394,000 after purchasing an additional 608 shares during the period. Invesco Ltd. raised its stake in shares of Castle Biosciences by 2.3% during the 4th quarter. Invesco Ltd. now owns 27,534 shares of the company's stock worth $734,000 after buying an additional 616 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Castle Biosciences by 4.6% in the 4th quarter. Truist Financial Corp now owns 21,303 shares of the company's stock valued at $568,000 after buying an additional 928 shares during the period. Finally, Covestor Ltd purchased a new stake in shares of Castle Biosciences in the fourth quarter valued at approximately $25,000. Hedge funds and other institutional investors own 92.60% of the company's stock.

Insider Buying and Selling

In other news, insider Derek J. Maetzold sold 1,236 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $21.52, for a total transaction of $26,598.72. Following the transaction, the insider now directly owns 74,627 shares in the company, valued at $1,605,973.04. This represents a 1.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 27,454 shares of company stock worth $553,030. 6.50% of the stock is owned by company insiders.

Castle Biosciences Price Performance

CSTL stock traded up $0.44 on Tuesday, reaching $16.71. The company had a trading volume of 390,493 shares, compared to its average volume of 411,384. The company's fifty day moving average is $18.61 and its 200 day moving average is $23.75. The company has a market cap of $482.45 million, a P/E ratio of 83.55 and a beta of 1.04. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78. Castle Biosciences, Inc. has a 1 year low of $15.45 and a 1 year high of $35.84.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its earnings results 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). Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The firm had revenue of $87.99 million during the quarter, compared to analyst estimates of $80.40 million. On average, research analysts forecast that Castle Biosciences, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.