Insider Selling: Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Sells $265,375.76 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 9,364 shares of Castle Biosciences stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $28.34, for a total transaction of $265,375.76. Following the sale, the insider now owns 84,762 shares in the company, valued at $2,402,155.08. This represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Castle Biosciences Price Performance

Castle Biosciences stock opened at $27.53 on Friday. The business has a 50 day simple moving average of $31.10 and a 200-day simple moving average of $27.25. Castle Biosciences, Inc. has a 12 month low of $16.97 and a 12 month high of $35.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64. The stock has a market capitalization of $771.03 million, a PE ratio of 137.66 and a beta of 0.92.

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

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Canaccord Genuity Group lifted their target price on Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Lake Street Capital lifted their price target on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. BTIG Research increased their price objective on Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a report on Monday, October 14th. KeyCorp lifted their target price 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. Finally, Scotiabank increased their price target on shares of Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Castle Biosciences currently has an average rating of “Buy” and an average target price of $39.71.

Institutional Investors Weigh In On Castle Biosciences

Institutional investors have recently added to or reduced their stakes in the business. Algert Global LLC lifted its holdings in shares of Castle Biosciences by 0.4% in the 3rd quarter. Algert Global LLC now owns 134,321 shares of the company’s stock valued at $3,831,000 after buying an additional 599 shares during the period. The Manufacturers Life Insurance Company raised its position in Castle Biosciences by 7.1% in the second quarter. The Manufacturers Life Insurance Company now owns 10,122 shares of the company’s stock worth $220,000 after acquiring an additional 675 shares in the last quarter. Assetmark Inc. lifted its holdings in Castle Biosciences by 16.8% in the third quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock valued at $149,000 after acquiring an additional 748 shares during the period. Y Intercept Hong Kong Ltd boosted its position in shares of Castle Biosciences by 3.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 24,206 shares of the company’s stock worth $690,000 after purchasing an additional 845 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Castle Biosciences by 10.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock worth $215,000 after purchasing an additional 952 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.

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.