Principal Financial Group Inc. Increases Position in Castle Biosciences, Inc. (NASDAQ:CSTL)

Principal Financial Group Inc. lifted its stake in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,585,673 shares of the company's stock after purchasing an additional 103,503 shares during the quarter. Principal Financial Group Inc. owned 5.89% of Castle Biosciences worth $34,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Assetmark Inc. increased its holdings in shares of Castle Biosciences by 34.2% in the 3rd quarter. Assetmark Inc. now owns 3,904 shares of the company's stock worth $66,000 after purchasing an additional 994 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Castle Biosciences by 351.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,110 shares of the company's stock worth $67,000 after buying an additional 2,421 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Castle Biosciences by 74.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,797 shares of the company's stock worth $115,000 after buying an additional 2,909 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Castle Biosciences by 943.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,739 shares of the company's stock valued at $124,000 after acquiring an additional 5,189 shares during the period. Finally, WuXi AppTec Co. Ltd. purchased a new stake in shares of Castle Biosciences during the 4th quarter valued at about $143,000. Institutional investors own 92.60% of the company's stock.

Insider Activity

In other Castle Biosciences news, insider Derek J. Maetzold sold 1,947 shares of the firm's stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $20.35, for a total transaction of $39,621.45. Following the sale, the insider now directly owns 65,418 shares of the company's stock, valued at $1,331,256.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Derek J. Maetzold sold 4,131 shares of the company's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $21.41, for a total transaction of $88,444.71. Following the completion of the transaction, the insider now owns 74,473 shares in the company, valued at $1,594,466.93. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Derek J. Maetzold sold 1,947 shares of Castle Biosciences stock in a transaction on Friday, April 12th. The shares were sold at an average price of $20.35, for a total transaction of $39,621.45. Following the completion of the sale, the insider now owns 65,418 shares in the company, valued at $1,331,256.30. The disclosure for this sale can be found here. Insiders have sold 74,100 shares of company stock worth $1,644,630 in the last three months. Company insiders own 7.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CSTL. Robert W. Baird boosted their price objective on shares of Castle Biosciences from $33.00 to $34.00 and gave the company an "outperform" rating in a report on Friday, May 3rd. Scotiabank raised their price target on Castle Biosciences from $33.00 to $37.00 and gave the stock a "sector outperform" rating in a research note on Friday, March 1st. Finally, KeyCorp lifted their price objective on Castle Biosciences from $25.00 to $28.00 and gave the stock an "overweight" rating in a report on Friday, March 1st.

Castle Biosciences Stock Performance

CSTL traded up $0.02 during midday trading on Friday, reaching $24.24. The company had a trading volume of 246,374 shares, compared to its average volume of 273,401. The business has a 50-day moving average of $21.32 and a two-hundred day moving average of $21.13. The company has a quick ratio of 9.02, a current ratio of 9.25 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a 1 year low of $9.26 and a 1 year high of $26.70. The company has a market cap of $669.27 million, a P/E ratio of -21.08 and a beta of 0.93.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last released its earnings results on Wednesday, February 28th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.84) by $0.74. Castle Biosciences had a negative net margin of 12.28% and a negative return on equity of 7.91%. The company had revenue of $66.12 million during the quarter, compared to analyst estimates of $51.32 million. As a group, equities research analysts predict that Castle Biosciences, Inc. will post -2.02 earnings per share for the current fiscal year.

Castle Biosciences Company 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.