Insider Selling: Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Sells $28,327.78 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 986 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $28.73, for a total value of $28,327.78. Following the transaction, the insider now owns 94,622 shares in the company, valued at $2,718,490.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Castle Biosciences Trading Down 1.6 %

NASDAQ CSTL opened at $28.30 on Friday. Castle Biosciences, Inc. has a fifty-two week low of $12.07 and a fifty-two week high of $32.53. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.92 and a current ratio of 8.12. The stock has a 50 day simple moving average of $28.46 and a two-hundred day simple moving average of $24.06. The stock has a market cap of $781.28 million, a P/E ratio of -24.55 and a beta of 1.03.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings data on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.47. Castle Biosciences had a negative return on equity of 0.77% and a negative net margin of 1.08%. The business had revenue of $87.00 million during the quarter, compared to analysts’ expectations of $69.95 million. During the same quarter last year, the business posted ($0.70) EPS. On average, analysts forecast that Castle Biosciences, Inc. will post -0.58 earnings per share for the current year.

Institutional Investors Weigh In On Castle Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the business. Inspire Investing LLC lifted its stake in shares of Castle Biosciences by 14.4% in the 3rd quarter. Inspire Investing LLC now owns 42,516 shares of the company’s stock valued at $1,213,000 after purchasing an additional 5,349 shares during the period. Truist Financial Corp increased its position in Castle Biosciences by 20.5% during the 2nd quarter. Truist Financial Corp now owns 14,217 shares of the company’s stock valued at $310,000 after buying an additional 2,420 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Castle Biosciences during the 2nd quarter valued at approximately $1,171,000. The Manufacturers Life Insurance Company increased its position in Castle Biosciences by 7.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,122 shares of the company’s stock valued at $220,000 after buying an additional 675 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in Castle Biosciences by 13.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 92,475 shares of the company’s stock valued at $2,013,000 after buying an additional 10,731 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Robert W. Baird raised their price target on Castle Biosciences from $34.00 to $37.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th. Stephens restated an “overweight” rating and set a $37.00 price target on shares of Castle Biosciences in a research report on Tuesday, August 6th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Castle Biosciences presently has an average rating of “Buy” and an average target price of $32.80.

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.