Castle Biosciences (NASDAQ:CSTL) Insider Sells $317,112.00 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Tobin Juvenal sold 9,050 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $35.04, for a total value of $317,112.00. Following the sale, the insider directly owned 66,914 shares of the company’s stock, valued at $2,344,666.56. The trade was a 11.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Stock Down 2.2%

Shares of CSTL opened at $33.50 on Friday. The company’s 50-day moving average price is $27.24 and its 200 day moving average price is $25.47. Castle Biosciences, Inc. has a 12-month low of $17.72 and a 12-month high of $44.28. The company has a current ratio of 6.04, a quick ratio of 5.85 and a debt-to-equity ratio of 0.02. The firm has a market cap of $1.02 billion, a P/E ratio of -50.76 and a beta of 0.98.

Castle Biosciences (NASDAQ:CSTL) last announced its earnings results on Thursday, July 30th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.34. Castle Biosciences had a negative net margin of 5.43% and a negative return on equity of 4.15%. The company had revenue of $99.86 million during the quarter, compared to analyst estimates of $86.23 million. On average, sell-side analysts forecast that Castle Biosciences, Inc. will post -1.29 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Roth Capital began coverage on shares of Castle Biosciences in a report on Wednesday, June 24th. They issued a “buy” rating and a $40.00 target price for the company. BTIG Research raised their price target on Castle Biosciences from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Robert W. Baird set a $36.00 price objective on Castle Biosciences in a research note on Friday, July 31st. Weiss Ratings upgraded Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 31st. Finally, Zacks Research lowered Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CSTL. Advisors Capital Management LLC acquired a new position in shares of Castle Biosciences in the 2nd quarter valued at $5,681,000. Summit Partners Public Asset Management LLC lifted its position in Castle Biosciences by 164.7% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company’s stock valued at $41,184,000 after acquiring an additional 658,725 shares during the last quarter. SummitTX Capital L.P. lifted its position in Castle Biosciences by 285.0% in the first quarter. SummitTX Capital L.P. now owns 67,033 shares of the company’s stock valued at $1,646,000 after acquiring an additional 49,623 shares during the last quarter. Quantinno Capital Management LP boosted its stake in Castle Biosciences by 387.3% in the first quarter. Quantinno Capital Management LP now owns 45,476 shares of the company’s stock valued at $1,116,000 after acquiring an additional 36,144 shares in the last quarter. Finally, AIGH Capital Management LLC acquired a new position in Castle Biosciences in the second quarter valued at $13,001,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

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.