Parkman Healthcare Partners LLC Invests $3.45 Million in Castle Biosciences, Inc. $CSTL

Parkman Healthcare Partners LLC bought a new position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) in the 2nd quarter, Holdings Channel reports. The fund bought 144,791 shares of the company’s stock, valued at approximately $3,453,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CSTL. BlackRock Inc. bought a new position in Castle Biosciences in the 2nd quarter valued at about $78,513,000. RTW Investments LP acquired a new stake in Castle Biosciences during the fourth quarter worth approximately $82,283,000. Summit Partners Public Asset Management LLC boosted its holdings 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 acquiring an additional 658,725 shares during the period. AIGH Capital Management LLC bought a new stake in shares of Castle Biosciences during the second quarter worth approximately $13,001,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Castle Biosciences during the second quarter worth approximately $7,912,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CSTL. Wall Street Zen upgraded Castle Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Zacks Research downgraded Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Weiss Ratings upgraded Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. BTIG Research upped their price objective on Castle Biosciences from $40.00 to $44.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Finally, Roth Capital started coverage on Castle Biosciences in a research report on Wednesday, June 24th. They set a “buy” rating and a $40.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Castle Biosciences has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Insider Activity at Castle Biosciences

In related news, insider Tobin W. Juvenal sold 1,730 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $28.25, for a total transaction of $48,872.50. Following the sale, the insider owned 78,995 shares of the company’s stock, valued at $2,231,608.75. This represents a 2.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 8,586 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $29.77, for a total value of $255,605.22. Following the sale, the chief operating officer directly owned 13,288 shares in the company, valued at $395,583.76. This represents a 39.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 136,305 shares of company stock worth $3,841,714. Company insiders own 6.10% of the company’s stock.

Castle Biosciences Stock Performance

NASDAQ CSTL opened at $33.47 on Tuesday. The company has a quick ratio of 5.85, a current ratio of 6.04 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.02 billion, a P/E ratio of -50.71 and a beta of 0.98. Castle Biosciences, Inc. has a 12-month low of $17.72 and a 12-month high of $44.28. The firm has a 50-day moving average price of $26.16 and a two-hundred day moving average price of $25.39.

Castle Biosciences (NASDAQ:CSTL) last announced its earnings results on Thursday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.34. Castle Biosciences had a negative net margin of 5.43% and a negative return on equity of 4.15%. The firm had revenue of $99.86 million for the quarter, compared to analyst estimates of $86.23 million. Analysts anticipate that Castle Biosciences, Inc. will post -1.29 earnings per share for the current year.

Castle Biosciences Company Profile

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.