Wellington Management Group LLP Purchases Shares of 722,120 Castle Biosciences, Inc. (NASDAQ:CSTL)

Wellington Management Group LLP acquired a new stake in Castle Biosciences, Inc. (NASDAQ:CSTL) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 722,120 shares of the company’s stock, valued at approximately $19,244,000. Wellington Management Group LLP owned about 2.58% of Castle Biosciences at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Castle Biosciences by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 1,832,535 shares of the company’s stock worth $48,837,000 after buying an additional 83,783 shares during the period. Hussman Strategic Advisors Inc. acquired a new position in shares of Castle Biosciences in the fourth quarter valued at approximately $1,959,000. State Street Corp increased its stake in shares of Castle Biosciences by 9.8% during the third quarter. State Street Corp now owns 680,001 shares of the company’s stock worth $19,394,000 after purchasing an additional 60,924 shares during the period. JPMorgan Chase & Co. lifted its holdings in Castle Biosciences by 165.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 69,409 shares of the company’s stock worth $1,980,000 after purchasing an additional 43,241 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake 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 valued at $43,879,000 after purchasing an additional 40,377 shares during the period. 92.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on CSTL shares. Guggenheim set a $30.00 price objective on Castle Biosciences and gave the stock a “buy” rating in a research report on Friday, March 28th. Stephens reiterated an “overweight” rating and issued a $41.00 price objective on shares of Castle Biosciences in a research note on Thursday, January 2nd. Finally, Robert W. Baird increased their target price on shares of Castle Biosciences from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $38.75.

Castle Biosciences Trading Up 2.8 %

Shares of Castle Biosciences stock opened at $19.09 on Tuesday. 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. The company has a market capitalization of $550.54 million, a price-to-earnings ratio of 95.45 and a beta of 1.11. The firm’s 50-day moving average price is $23.37 and its two-hundred day moving average price is $27.50.

Insider Transactions at Castle Biosciences

In related news, insider Derek J. Maetzold sold 22,639 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $20.12, for a total transaction of $455,496.68. Following the completion of the sale, the insider now directly owns 80,465 shares in the company, valued at $1,618,955.80. This represents a 21.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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. In the last 90 days, insiders sold 34,858 shares of company stock valued at $771,416. Company insiders own 7.20% of the company’s stock.

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.