Insider Selling: Castle Biosciences, Inc. (NASDAQ:CSTL) Director Sells $229,244.38 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) Director Daniel Bradbury sold 7,867 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $29.14, for a total value of $229,244.38. Following the completion of the transaction, the director now owns 1,425 shares in the company, valued at $41,524.50. This represents a 84.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Castle Biosciences Trading Down 7.5 %

Shares of CSTL stock opened at $30.25 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 quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $29.81 and its two-hundred day moving average is $27.87. The company has a market cap of $847.21 million, a PE ratio of 151.26 and a beta of 0.92.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.14. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. The company had revenue of $85.78 million for the quarter, compared to the consensus estimate of $78.55 million. During the same quarter last year, the company posted ($0.26) earnings per share. Equities analysts predict that Castle Biosciences, Inc. will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

CSTL has been the topic of a number of research reports. Canaccord Genuity Group increased their price objective on Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Lake Street Capital increased their price objective on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. BTIG Research increased their price objective on Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Scotiabank increased their price objective on Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a report on Wednesday, November 6th. Finally, Stephens restated an “overweight” rating and issued a $41.00 price objective on shares of Castle Biosciences in a report on Thursday, January 2nd. Seven 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 target price of $40.29.

Institutional Investors Weigh In On Castle Biosciences

Several hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position in shares of Castle Biosciences by 165.2% in the third quarter. JPMorgan Chase & Co. now owns 69,409 shares of the company’s stock valued at $1,980,000 after acquiring an additional 43,241 shares during the period. Principal Financial Group Inc. boosted its position in shares of Castle Biosciences by 2.7% in the third quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company’s stock valued at $43,879,000 after acquiring an additional 40,377 shares during the period. Franklin Resources Inc. boosted its position in shares of Castle Biosciences by 87.3% in the third quarter. Franklin Resources Inc. now owns 69,382 shares of the company’s stock valued at $1,979,000 after acquiring an additional 32,344 shares during the period. Barclays PLC boosted its position in shares of Castle Biosciences by 310.7% in the third quarter. Barclays PLC now owns 52,301 shares of the company’s stock valued at $1,491,000 after acquiring an additional 39,567 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Castle Biosciences by 1.1% in the third quarter. Geode Capital Management LLC now owns 624,683 shares of the company’s stock valued at $17,820,000 after acquiring an additional 7,004 shares during the period. 92.60% of the stock is owned by institutional investors.

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.