Parkman Healthcare Partners LLC Raises Stake in Castle Biosciences, Inc. (NASDAQ:CSTL)

Parkman Healthcare Partners LLC lifted its holdings in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 304,629 shares of the company’s stock after purchasing an additional 8,558 shares during the quarter. Parkman Healthcare Partners LLC’s holdings in Castle Biosciences were worth $8,118,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CSTL. Covestor Ltd acquired a new position in Castle Biosciences during the 4th quarter worth about $25,000. R Squared Ltd acquired a new stake in shares of Castle Biosciences during the 4th quarter worth about $42,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Castle Biosciences during the 4th quarter worth about $128,000. China Universal Asset Management Co. Ltd. raised its position in shares of Castle Biosciences by 11.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,939 shares of the company’s stock worth $158,000 after acquiring an additional 604 shares in the last quarter. Finally, Oak Harvest Investment Services acquired a new position in Castle Biosciences during the fourth quarter worth approximately $206,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Castle Biosciences

In other Castle Biosciences news, insider Derek J. Maetzold sold 1,236 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $20.30, for a total transaction of $25,090.80. Following the completion of the sale, the insider now owns 77,099 shares in the company, valued at $1,565,109.70. This trade represents a 1.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 27,454 shares of company stock worth $553,030 in the last 90 days. 7.20% of the stock is owned by corporate insiders.

Castle Biosciences Stock Performance

Shares of NASDAQ:CSTL opened at $17.03 on Wednesday. The firm has a market capitalization of $491.69 million, a PE ratio of 85.15 and a beta of 1.19. 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 business has a 50-day moving average of $19.67 and a two-hundred day moving average of $25.41. Castle Biosciences, Inc. has a 12 month low of $15.70 and a 12 month high of $35.84.

Castle Biosciences (NASDAQ:CSTL) last posted its earnings results on Monday, May 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.12). Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The company had revenue of $87.99 million during the quarter, compared to analyst estimates of $80.40 million. As a group, research analysts forecast that Castle Biosciences, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Robert W. Baird lifted their price target on Castle Biosciences from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Canaccord Genuity Group decreased their price target on Castle Biosciences from $42.00 to $37.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Guggenheim set a $30.00 target price on Castle Biosciences and gave the stock a “buy” rating in a research report on Friday, March 28th. Finally, Lake Street Capital reduced their price objective on Castle Biosciences from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, Castle Biosciences currently has a consensus rating of “Buy” and an average target price of $37.50.

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.