Wellington Management Group LLP Takes $19.24 Million Position in Castle Biosciences, Inc. (NASDAQ:CSTL)

Wellington Management Group LLP acquired a new position in Castle Biosciences, Inc. (NASDAQ:CSTL) during the 4th quarter, HoldingsChannel reports. The fund acquired 722,120 shares of the company’s stock, valued at approximately $19,244,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Castle Biosciences by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 1,832,535 shares of the company’s stock valued at $48,837,000 after buying an additional 83,783 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Castle Biosciences by 2.7% in the third quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company’s stock valued at $43,879,000 after acquiring an additional 40,377 shares during the last quarter. State Street Corp increased its position in Castle Biosciences by 9.8% during the 3rd quarter. State Street Corp now owns 680,001 shares of the company’s stock valued at $19,394,000 after purchasing an additional 60,924 shares during the period. Geode Capital Management LLC raised its holdings in Castle Biosciences by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 624,683 shares of the company’s stock worth $17,820,000 after purchasing an additional 7,004 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Castle Biosciences by 16.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 274,761 shares of the company’s stock worth $7,836,000 after purchasing an additional 39,417 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CSTL has been the subject of a number of analyst reports. Robert W. Baird lifted their target price on shares of Castle Biosciences from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Stephens reissued an “overweight” rating and issued a $41.00 price objective on shares of Castle Biosciences in a research note on Thursday, January 2nd. Finally, Guggenheim set a $30.00 target price on Castle Biosciences and gave the stock a “buy” rating in a report on Friday, March 28th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $38.75.

Insider Buying and Selling at Castle Biosciences

In related news, insider Derek J. Maetzold sold 986 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $28.03, for a total value of $27,637.58. Following the transaction, the insider now owns 80,818 shares of the company’s stock, valued at approximately $2,265,328.54. This trade represents a 1.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Bradbury sold 7,867 shares of Castle Biosciences stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $28.17, for a total value of $221,613.39. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,858 shares of company stock valued at $771,416. Corporate insiders own 7.20% of the company’s stock.

Castle Biosciences Price Performance

Shares of CSTL opened at $19.09 on Tuesday. The stock has a market cap of $550.54 million, a P/E ratio of 95.45 and a beta of 1.11. The business’s fifty day moving average is $23.37 and its 200 day moving average is $27.50. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a 12-month low of $16.97 and a 12-month high of $35.84.

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.