Insider Selling: Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Sells $39,621.45 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 1,947 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $20.35, for a total transaction of $39,621.45. Following the completion of the transaction, the insider now owns 65,418 shares in the company, valued at approximately $1,331,256.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Castle Biosciences Price Performance

Shares of CSTL opened at $19.31 on Friday. Castle Biosciences, Inc. has a 1 year low of $9.26 and a 1 year high of $26.70. The company has a 50 day simple moving average of $21.53 and a two-hundred day simple moving average of $19.84. The firm has a market cap of $530.06 million, a P/E ratio of -8.94 and a beta of 0.93.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.74. Castle Biosciences had a negative net margin of 26.15% and a negative return on equity of 14.92%. The business had revenue of $66.12 million during the quarter, compared to analyst estimates of $51.32 million. On average, sell-side analysts anticipate that Castle Biosciences, Inc. will post -2.41 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Deerfield Management Company L.P. Series C bought a new stake in Castle Biosciences in the third quarter worth $15,988,000. Millennium Management LLC lifted its position in shares of Castle Biosciences by 230.9% during the second quarter. Millennium Management LLC now owns 902,089 shares of the company’s stock worth $19,801,000 after purchasing an additional 629,448 shares during the last quarter. Bellevue Group AG bought a new stake in shares of Castle Biosciences during the first quarter worth $27,258,000. Citadel Advisors LLC lifted its position in shares of Castle Biosciences by 237.2% during the second quarter. Citadel Advisors LLC now owns 630,596 shares of the company’s stock worth $13,841,000 after purchasing an additional 443,589 shares during the last quarter. Finally, Wasatch Advisors Inc. lifted its position in shares of Castle Biosciences by 10.5% during the first quarter. Wasatch Advisors Inc. now owns 3,443,847 shares of the company’s stock worth $154,491,000 after purchasing an additional 327,359 shares during the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CSTL. KeyCorp increased their price objective on shares of Castle Biosciences from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Scotiabank increased their target price on shares of Castle Biosciences from $33.00 to $37.00 and gave the stock a “sector outperform” rating in a report on Friday, March 1st.

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.