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

Principal Financial Group Inc. trimmed its holdings in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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 approximately 5.84% of Castle Biosciences worth $43,450,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CSTL. Vanguard Group Inc. increased its holdings in Castle Biosciences by 1.3% in the 4th 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 in the last quarter. RTW Investments LP acquired a new stake in shares of Castle Biosciences in the fourth quarter valued at about $82,283,000. Dimensional Fund Advisors LP grew its position in shares of 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 increased its stake in shares of Castle Biosciences by 164.7% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company’s stock worth $41,184,000 after purchasing an additional 658,725 shares in the last quarter. Finally, Wasatch Advisors LP increased its stake in shares of Castle Biosciences by 5.1% during the second quarter. Wasatch Advisors LP now owns 1,049,773 shares of the company’s stock worth $21,436,000 after purchasing an additional 51,318 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Castle Biosciences Stock Down 0.3%

CSTL stock opened at $24.16 on Friday. The company has a market cap of $732.77 million, a price-to-earnings ratio of -54.91 and a beta of 1.00. The company has a current ratio of 6.75, a quick ratio of 6.53 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a 12 month low of $14.59 and a 12 month high of $44.28. The firm has a 50-day moving average of $21.61 and a two-hundred day moving average of $27.52.

Castle Biosciences (NASDAQ:CSTL) last issued its earnings results on Wednesday, May 6th. The company reported ($0.49) earnings per share for the quarter, hitting the consensus estimate of ($0.49). The business had revenue of $84.23 million for 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%. As a group, analysts forecast that Castle Biosciences, Inc. will post -1.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Castle Biosciences news, insider Derek J. Maetzold sold 6,214 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $22.15, for a total value of $137,640.10. Following the completion of the sale, the insider directly owned 21,479 shares in the company, valued at $475,759.85. This represents a 22.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 on Tuesday, June 16th. The stock was sold at an average price of $20.71, for a total value of $177,836.77. Following the completion of the sale, the chief operating officer directly owned 30,460 shares of the company’s stock, valued at $630,826.60. This trade represents a 21.99% decrease in their ownership of the stock. 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 49,361 shares of company stock worth $1,119,278 in the last three months. 6.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CSTL shares. BTIG Research decreased their price target on shares of Castle Biosciences from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. Roth Capital began coverage on Castle Biosciences in a research note on Wednesday, June 24th. They set a “buy” rating and a $40.00 price objective for the company. Canaccord Genuity Group reduced their target price on Castle Biosciences from $50.00 to $40.00 and set a “buy” rating for the company in a report on Monday, April 20th. Wall Street Zen downgraded Castle Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Zacks Research lowered Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.43.

About Castle Biosciences

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.