Insider Selling: Castle Biosciences (NASDAQ:CSTL) Insider Sells 3,200 Shares of Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek Maetzold sold 3,200 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $39.91, for a total value of $127,712.00. Following the transaction, the insider directly owned 84,515 shares in the company, valued at approximately $3,372,993.65. This represents a 3.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Castle Biosciences Stock Performance

CSTL traded down $2.56 during trading hours on Thursday, hitting $32.40. 763,751 shares of the stock were exchanged, compared to its average volume of 405,892. The stock has a market cap of $945.76 million, a price-to-earnings ratio of -72.00 and a beta of 1.06. The stock has a 50-day simple moving average of $39.67 and a 200-day simple moving average of $29.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.47 and a quick ratio of 6.31. Castle Biosciences, Inc. has a 12 month low of $14.59 and a 12 month high of $44.28.

Castle Biosciences (NASDAQ:CSTL) last issued its earnings results on Monday, November 3rd. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.32. Castle Biosciences had a negative net margin of 3.56% and a positive return on equity of 1.73%. The company had revenue of $80.55 million for the quarter, compared to analysts’ expectations of $71.06 million. Analysts anticipate that Castle Biosciences, Inc. will post 0.44 earnings per share for the current year.

Institutional Investors Weigh In On Castle Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Truist Financial Corp grew its stake in shares of Castle Biosciences by 1.1% in the 4th quarter. Truist Financial Corp now owns 23,628 shares of the company’s stock valued at $919,000 after buying an additional 257 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Castle Biosciences by 2.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 13,432 shares of the company’s stock valued at $523,000 after acquiring an additional 261 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Castle Biosciences by 26.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,418 shares of the company’s stock worth $55,000 after acquiring an additional 297 shares in the last quarter. CWM LLC increased its stake in shares of Castle Biosciences by 20.5% during the 4th quarter. CWM LLC now owns 2,302 shares of the company’s stock worth $90,000 after purchasing an additional 391 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Castle Biosciences by 0.5% during the 3rd quarter. Franklin Resources Inc. now owns 99,787 shares of the company’s stock valued at $2,272,000 after purchasing an additional 540 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CSTL. KeyCorp reaffirmed an “overweight” rating and set a $50.00 target price on shares of Castle Biosciences in a report on Thursday, January 29th. Guggenheim increased their price objective on shares of Castle Biosciences from $43.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Robert W. Baird boosted their target price on shares of Castle Biosciences from $39.00 to $41.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Zacks Research upgraded shares of Castle Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, Lake Street Capital boosted their price target on Castle Biosciences from $35.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $47.14.

Castle Biosciences Company Profile

Castle Biosciences, Inc is a molecular diagnostics company specializing in the development and commercialization of prognostic and diagnostic tests for patients with dermatologic conditions. The company’s proprietary portfolio of genomic assays is designed to improve risk assessment and guide clinical decision-making for individuals with skin cancers and other skin-related diseases. By combining genomic data with advanced statistical algorithms, Castle Biosciences seeks to provide actionable insights that help physicians tailor treatment plans and monitoring strategies.

The company’s flagship test, DecisionDx-Melanoma, evaluates the probability of metastasis in patients diagnosed with cutaneous melanoma, supporting more personalized surveillance and therapeutic approaches.