Parkman Healthcare Partners LLC Has $8.44 Million Holdings in Castle Biosciences, Inc. (NASDAQ:CSTL)

Parkman Healthcare Partners LLC raised its position in Castle Biosciences, Inc. (NASDAQ:CSTL) by 6.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 296,071 shares of the company’s stock after purchasing an additional 18,176 shares during the quarter. Parkman Healthcare Partners LLC’s holdings in Castle Biosciences were worth $8,444,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Principal Financial Group Inc. raised its position in Castle Biosciences by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company’s stock worth $43,879,000 after purchasing an additional 40,377 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Castle Biosciences by 2.2% during the first quarter. Vanguard Group Inc. now owns 1,494,176 shares of the company’s stock worth $33,096,000 after buying an additional 32,695 shares during the last quarter. Bellevue Group AG grew its position in shares of Castle Biosciences by 3.7% during the 3rd quarter. Bellevue Group AG now owns 1,262,030 shares of the company’s stock worth $35,993,000 after buying an additional 44,929 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Castle Biosciences by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 809,934 shares of the company’s stock valued at $17,631,000 after acquiring an additional 60,675 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Castle Biosciences by 47.3% in the 2nd quarter. Renaissance Technologies LLC now owns 301,500 shares of the company’s stock valued at $6,564,000 after acquiring an additional 96,800 shares during the period. 92.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on CSTL. Robert W. Baird increased their target price on shares of Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Lake Street Capital raised their target price on shares of Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Stephens reissued an “overweight” rating and set a $37.00 price target on shares of Castle Biosciences in a research report on Tuesday, August 6th. Scotiabank boosted their price target on Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 6th. Finally, KeyCorp increased their price objective on Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $37.88.

Insider Buying and Selling

In other Castle Biosciences news, insider Derek J. Maetzold sold 986 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $28.73, for a total value of $28,327.78. Following the completion of the transaction, the insider now owns 94,622 shares of the company’s stock, valued at $2,718,490.06. This represents a 1.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Frank Stokes sold 6,923 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $29.93, for a total transaction of $207,205.39. Following the sale, the chief financial officer now directly owns 30,823 shares in the company, valued at $922,532.39. The trade was a 18.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,213 shares of company stock worth $752,673. Company insiders own 7.20% of the company’s stock.

Castle Biosciences Stock Performance

CSTL opened at $30.78 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64. The company has a market capitalization of $862.15 million, a PE ratio of 153.91 and a beta of 0.92. The business has a fifty day simple moving average of $30.98 and a 200 day simple moving average of $26.81. Castle Biosciences, Inc. has a 1 year low of $16.97 and a 1 year high of $35.84.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results on Monday, November 4th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.14. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The business had revenue of $85.78 million for the quarter, compared to analyst estimates of $78.55 million. During the same period last year, the firm earned ($0.26) earnings per share. Research analysts expect that Castle Biosciences, Inc. will post -0.08 EPS for the current year.

About Castle Biosciences

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.