Insider Selling: Castle Biosciences, Inc. (NASDAQ:CSTL) Director Sells 7,867 Shares of Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) Director Daniel Bradbury sold 7,867 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $29.14, for a total value of $229,244.38. Following the completion of the transaction, the director now directly owns 1,425 shares of the company’s stock, valued at approximately $41,524.50. This trade represents a 84.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Castle Biosciences Stock Performance

Shares of NASDAQ:CSTL opened at $30.25 on Friday. Castle Biosciences, Inc. has a twelve month low of $16.97 and a twelve month high of $35.84. The firm has a market cap of $847.21 million, a PE ratio of 151.26 and a beta of 0.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78. The business has a fifty day moving average of $29.81 and a 200-day moving average of $27.87.

Castle Biosciences (NASDAQ:CSTL) last announced its earnings results on Monday, November 4th. The company reported $0.08 earnings per share 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 analyst estimates of $78.55 million. During the same period last year, the company posted ($0.26) earnings per share. On average, equities research analysts predict that Castle Biosciences, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CSTL shares. BTIG Research raised their target price on Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Canaccord Genuity Group increased their price objective on Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. KeyCorp increased their price objective on Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Stephens reiterated an “overweight” rating and set a $41.00 price objective on shares of Castle Biosciences in a research note on Thursday, January 2nd. Finally, Lake Street Capital increased their price objective on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $40.29.

Institutional Trading of Castle Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quest Partners LLC increased its position in Castle Biosciences by 54.4% in the third quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock worth $123,000 after purchasing an additional 1,522 shares during the period. US Bancorp DE increased its position in Castle Biosciences by 1,889.2% in the third quarter. US Bancorp DE now owns 4,615 shares of the company’s stock worth $132,000 after purchasing an additional 4,383 shares during the period. Point72 DIFC Ltd acquired a new stake in Castle Biosciences in the third quarter worth about $140,000. Assetmark Inc. increased its position in Castle Biosciences by 16.8% in the third quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock worth $149,000 after purchasing an additional 748 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its position in Castle Biosciences by 64.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock worth $152,000 after purchasing an additional 2,093 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.