Castle Biosciences, Inc. $CSTL Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 2.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,769,877 shares of the company’s stock after selling 37,767 shares during the quarter. Principal Financial Group Inc. owned about 0.06% of Castle Biosciences worth $43,450,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Castle Biosciences by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 2,199,829 shares of the company’s stock worth $85,573,000 after acquiring an additional 27,511 shares during the period. RTW Investments LP acquired a new stake in Castle Biosciences during the fourth quarter worth $82,283,000. Dimensional Fund Advisors LP raised its position in Castle Biosciences by 7.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,474,089 shares of the company’s stock valued at $33,564,000 after purchasing an additional 96,084 shares during the period. Summit Partners Public Asset Management LLC raised its position in Castle Biosciences by 164.7% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company’s stock valued at $41,184,000 after purchasing an additional 658,725 shares during the period. Finally, Wasatch Advisors LP raised its position in Castle Biosciences by 5.1% in the second quarter. Wasatch Advisors LP now owns 1,049,773 shares of the company’s stock valued at $21,436,000 after purchasing an additional 51,318 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Castle Biosciences Trading Down 0.3%

CSTL opened at $24.16 on Friday. Castle Biosciences, Inc. has a 52 week low of $14.59 and a 52 week high of $44.28. The business has a fifty day simple moving average of $21.61 and a 200-day simple moving average of $27.52. The firm has a market cap of $732.77 million, a P/E ratio of -54.91 and a beta of 1.00. The company has a quick ratio of 6.53, a current ratio of 6.75 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.49) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.49). The business had revenue of $84.23 million during the quarter, compared to analysts’ expectations of $79.23 million. Castle Biosciences had a negative return on equity of 2.77% and a negative net margin of 3.78%. On average, equities analysts expect that Castle Biosciences, Inc. will post -1.56 earnings per share for the current year.

Insider Transactions at Castle Biosciences

In other news, insider Derek J. Maetzold sold 6,214 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $22.15, for a total value of $137,640.10. Following the completion of the transaction, the insider owned 21,479 shares of the company’s stock, valued at approximately $475,759.85. This trade represents a 22.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kristen M. Oelschlager sold 8,587 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $20.71, for a total transaction of $177,836.77. Following the completion of the transaction, the chief operating officer directly owned 30,460 shares of the company’s stock, valued at approximately $630,826.60. The trade was a 21.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 49,361 shares of company stock valued at $1,119,278 over the last 90 days. 6.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on CSTL. Canaccord Genuity Group lowered their price target on Castle Biosciences from $50.00 to $40.00 and set a “buy” rating for the company in a report on Monday, April 20th. Weiss Ratings lowered shares of Castle Biosciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Robert W. Baird decreased their target price on shares of Castle Biosciences from $44.00 to $43.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. BTIG Research lowered their target price on shares of Castle Biosciences from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Finally, Roth Capital began coverage on shares of Castle Biosciences in a research report on Wednesday, June 24th. They set a “buy” rating and a $40.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Castle Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $42.43.

Castle Biosciences 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.