Insider Selling: Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Sells $67,343.80 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 1,972 shares of Castle Biosciences stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $34.15, for a total value of $67,343.80. Following the completion of the transaction, the insider now directly owns 87,720 shares of the company’s stock, valued at approximately $2,995,638. This represents a 2.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Castle Biosciences Stock Performance

NASDAQ:CSTL opened at $28.10 on Friday. Castle Biosciences, Inc. has a 12 month low of $16.97 and a 12 month high of $35.84. 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 firm has a market capitalization of $787.08 million, a PE ratio of 140.51 and a beta of 0.99. The business’s fifty day moving average price is $31.14 and its 200 day moving average price is $26.29.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings data on Monday, November 4th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.14. The business had revenue of $85.78 million for the quarter, compared to the consensus estimate of $78.55 million. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. During the same quarter in the prior year, the business posted ($0.26) EPS. On average, sell-side analysts anticipate that Castle Biosciences, Inc. will post -0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on CSTL. Lake Street Capital raised their price objective on shares of Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group boosted their price target on shares of Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. KeyCorp increased their price objective on Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Scotiabank boosted their target price on Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. Finally, Stephens restated an “overweight” rating and set a $37.00 price target on shares of Castle Biosciences in a report on Tuesday, August 6th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $37.88.

Institutional Trading of Castle Biosciences

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Castle Biosciences by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 1,494,176 shares of the company’s stock valued at $33,096,000 after buying an additional 32,695 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Castle Biosciences by 130.7% during the first quarter. Acadian Asset Management LLC now owns 210,824 shares of the company’s stock worth $4,669,000 after purchasing an additional 119,443 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Castle Biosciences by 249.3% during the second quarter. Harbor Capital Advisors Inc. now owns 138,707 shares of the company’s stock worth $3,020,000 after purchasing an additional 99,001 shares in the last quarter. Lisanti Capital Growth LLC lifted its holdings in shares of Castle Biosciences by 60.2% in the 3rd quarter. Lisanti Capital Growth LLC now owns 154,710 shares of the company’s stock valued at $4,412,000 after purchasing an additional 58,160 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of 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. Hedge funds and other institutional investors own 92.60% of the company’s stock.

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.