Derek J. Maetzold Sells 986 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 986 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $28.03, for a total value of $27,637.58. Following the sale, the insider now directly owns 80,818 shares in the company, valued at $2,265,328.54. This trade represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Castle Biosciences Stock Performance

NASDAQ CSTL traded down $0.44 on Wednesday, hitting $25.02. 541,633 shares of the company traded hands, compared to its average volume of 634,804. 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 business’s 50 day moving average price is $29.55 and its 200-day moving average price is $28.02. The company has a market capitalization of $700.81 million, a price-to-earnings ratio of 125.11 and a beta of 0.92. Castle Biosciences, Inc. has a 52-week low of $16.97 and a 52-week high of $35.84.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $78.55 million. During the same period in the previous year, the company posted ($0.26) EPS. Equities analysts expect that Castle Biosciences, Inc. will post 0.34 earnings per share for the current year.

Institutional Trading of Castle Biosciences

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

Analysts Set New Price Targets

CSTL has been the topic of a number of recent analyst reports. KeyCorp raised their price target on shares of Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Canaccord Genuity Group raised their target price on shares of Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Scotiabank boosted their target price on shares of Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. BTIG Research increased their price target on Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Lake Street Capital lifted 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. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $40.29.

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.