Insider Selling: Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Sells 1,972 Shares of Stock

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

Castle Biosciences Trading Down 7.3 %

Shares of CSTL traded down $2.25 during mid-day trading on Friday, reaching $28.58. The company had a trading volume of 177,806 shares, compared to its average volume of 325,046. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. The stock has a market cap of $800.53 million, a price-to-earnings ratio of 142.91 and a beta of 0.99. The firm has a fifty day simple moving average of $31.16 and a 200-day simple moving average of $26.21. Castle Biosciences, Inc. has a fifty-two week low of $16.97 and a fifty-two week high of $35.84.

Castle Biosciences (NASDAQ:CSTL) last issued 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 company had revenue of $85.78 million during the quarter, compared to the consensus estimate of $78.55 million. During the same quarter last year, the company earned ($0.26) earnings per share. On average, sell-side analysts anticipate that Castle Biosciences, Inc. will post -0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Castle Biosciences

A number of hedge funds have recently made changes to their positions in CSTL. Bellevue Group AG raised its stake in Castle Biosciences by 3.7% during the 3rd quarter. Bellevue Group AG now owns 1,262,030 shares of the company’s stock valued at $35,993,000 after acquiring an additional 44,929 shares in the last quarter. Townsquare Capital LLC lifted its stake in Castle Biosciences by 25.2% during the third quarter. Townsquare Capital LLC now owns 23,270 shares of the company’s stock valued at $664,000 after buying an additional 4,688 shares in the last quarter. Advantage Alpha Capital Partners LP acquired a new position in shares of Castle Biosciences in the third quarter worth about $312,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Castle Biosciences in the third quarter worth approximately $1,252,000. Finally, Algert Global LLC raised its holdings in shares of Castle Biosciences by 0.4% during the third quarter. Algert Global LLC now owns 134,321 shares of the company’s stock valued at $3,831,000 after acquiring an additional 599 shares during the period. Institutional investors own 92.60% of the company’s stock.

Wall Street Analyst Weigh In

CSTL has been the subject of a number of recent analyst reports. Scotiabank boosted their price objective on Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a research report on Wednesday, November 6th. KeyCorp upped their price target on Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Lake Street Capital lifted their target price on Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Robert W. Baird increased their target price on shares of Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Stephens restated an “overweight” rating and issued a $37.00 target price on shares of Castle Biosciences in a research note on Tuesday, August 6th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $37.88.

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.