Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Sells $455,496.68 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 22,639 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $20.12, for a total value of $455,496.68. Following the completion of the transaction, the insider now directly owns 80,465 shares of the company’s stock, valued at approximately $1,618,955.80. This trade represents a 21.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Castle Biosciences Trading Up 3.2 %

Shares of Castle Biosciences stock traded up $0.61 during mid-day trading on Tuesday, hitting $19.54. The stock had a trading volume of 734,313 shares, compared to its average volume of 470,745. The firm has a 50-day moving average of $26.46 and a two-hundred day moving average of $28.90. The firm has a market cap of $547.26 million, a P/E ratio of 97.70 and a beta of 0.98. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a 12-month low of $16.97 and a 12-month high of $35.84.

Analyst Ratings Changes

Several research firms have recently issued reports on CSTL. Robert W. Baird increased their target price on shares of Castle Biosciences from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Stephens reissued 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, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $40.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd purchased a new stake in Castle Biosciences in the fourth quarter valued at $25,000. R Squared Ltd acquired a new stake in shares of Castle Biosciences during the 4th quarter worth about $42,000. Quest Partners LLC raised its holdings in Castle Biosciences by 54.4% in the 3rd quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock valued at $123,000 after buying an additional 1,522 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Castle Biosciences in the fourth quarter valued at about $128,000. Finally, US Bancorp DE boosted its stake in Castle Biosciences by 1,889.2% during the third quarter. US Bancorp DE now owns 4,615 shares of the company’s stock worth $132,000 after buying an additional 4,383 shares during the period. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

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.