Insider Selling: Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Sells 2,715 Shares of Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 2,715 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $29.62, for a total value of $80,418.30. Following the sale, the insider now directly owns 82,047 shares of the company’s stock, valued at approximately $2,430,232.14. This represents a 3.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Castle Biosciences Stock Up 1.7 %

Shares of NASDAQ:CSTL traded up $0.55 during midday trading on Wednesday, hitting $32.72. 351,560 shares of the stock were exchanged, compared to its average volume of 334,492. The business’s fifty day simple moving average is $29.95 and its two-hundred day simple moving average is $27.74. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78. Castle Biosciences, Inc. has a 52-week low of $16.97 and a 52-week high of $35.84. The company has a market capitalization of $916.39 million, a PE ratio of 163.61 and a beta of 0.92.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings data on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.14. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The business had revenue of $85.78 million during the quarter, compared to analyst estimates of $78.55 million. During the same quarter in the previous year, the business earned ($0.26) EPS. As a group, research analysts predict that Castle Biosciences, Inc. will post 0.34 earnings per share for the current fiscal year.

Institutional Trading of Castle Biosciences

Large investors have recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in Castle Biosciences by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company’s stock worth $43,879,000 after acquiring an additional 40,377 shares during the last quarter. Bellevue Group AG lifted its position in shares of Castle Biosciences by 3.7% during the 3rd quarter. Bellevue Group AG now owns 1,262,030 shares of the company’s stock worth $35,993,000 after purchasing an additional 44,929 shares during the last quarter. Portolan Capital Management LLC boosted its stake in Castle Biosciences by 3.7% during the 3rd quarter. Portolan Capital Management LLC now owns 1,255,628 shares of the company’s stock valued at $35,811,000 after purchasing an additional 44,676 shares during the period. Dimensional Fund Advisors LP grew its holdings in Castle Biosciences by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 809,934 shares of the company’s stock valued at $17,631,000 after buying an additional 60,675 shares during the last quarter. Finally, State Street Corp increased its position in Castle Biosciences by 9.8% in the 3rd quarter. State Street Corp now owns 680,001 shares of the company’s stock worth $19,394,000 after buying an additional 60,924 shares during the period. 92.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on CSTL. KeyCorp upped their price objective on shares of Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Scotiabank raised their price objective on shares of Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. Lake Street Capital boosted their target price 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 raised their target price on Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Finally, Robert W. Baird upped their price target on Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $40.29.

Castle Biosciences Company 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.