Insider Selling: Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Sells 22,639 Shares of Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 22,639 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $20.12, for a total transaction of $455,496.68. Following the transaction, the insider now directly owns 80,465 shares of the company’s stock, valued at $1,618,955.80. The trade was a 21.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Castle Biosciences Stock Performance

CSTL opened at $19.54 on Wednesday. The stock has a market cap of $547.26 million, a PE ratio of 97.70 and a beta of 0.98. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a 1 year low of $16.97 and a 1 year high of $35.84. The stock’s 50 day simple moving average is $26.31 and its 200-day simple moving average is $28.83.

Wall Street Analyst Weigh In

Several research firms have weighed in on CSTL. Stephens reissued an “overweight” rating and set a $41.00 target price on shares of Castle Biosciences in a research report on Thursday, January 2nd. Robert W. Baird increased their price target on shares of Castle Biosciences from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Castle Biosciences has a consensus rating of “Buy” and a consensus target price of $40.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Mackenzie Financial Corp bought a new position in Castle Biosciences during the 4th quarter worth $560,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Castle Biosciences by 18.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 66,018 shares of the company’s stock worth $1,759,000 after purchasing an additional 10,486 shares in the last quarter. Two Sigma Advisers LP purchased a new position in Castle Biosciences in the fourth quarter valued at approximately $306,000. Point72 Asset Management L.P. lifted its position in shares of Castle Biosciences by 9.6% during the fourth quarter. Point72 Asset Management L.P. now owns 547,104 shares of the company’s stock worth $14,580,000 after acquiring an additional 47,912 shares in the last quarter. Finally, ProShare Advisors LLC bought a new position in shares of Castle Biosciences in the fourth quarter worth $230,000. 92.60% of the stock is currently owned by institutional investors.

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.