Insider Selling: Castle Biosciences (NASDAQ:CSTL) Insider Sells 8,580 Shares of Company Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek Maetzold sold 8,580 shares of the business’s stock in a transaction on Monday, October 19th. The stock was sold at an average price of $31.91, for a total transaction of $273,787.80. Following the transaction, the insider directly owned 12,484 shares in the company, valued at approximately $398,364.44. The trade was a 40.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Stock Up 3.7%

Shares of CSTL stock traded up $1.22 on Wednesday, hitting $34.37. The stock had a trading volume of 336,585 shares, compared to its average volume of 393,756. The stock’s 50 day moving average is $33.58 and its 200-day moving average is $26.99. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -52.08 and a beta of 0.94. Castle Biosciences, Inc. has a 52-week low of $17.72 and a 52-week high of $44.28. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.85 and a current ratio of 6.04.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.07) earnings per share (EPS) 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 firm had revenue of $99.86 million for the quarter, compared to the consensus estimate of $86.23 million. As a group, research analysts expect that Castle Biosciences, Inc. will post -1.29 earnings per share for the current year.

Institutional Investors Weigh In On Castle Biosciences

Institutional investors have recently modified their holdings of the stock. NFSG Corp bought a new position in shares of Castle Biosciences during the third quarter worth about $36,000. Global Retirement Partners LLC bought a new stake in Castle Biosciences in the second quarter valued at about $26,000. Caitong International Asset Management Co. Ltd increased its holdings in Castle Biosciences by 188.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,099 shares of the company’s stock valued at $82,000 after buying an additional 1,371 shares during the last quarter. Quantbot Technologies LP bought a new stake in Castle Biosciences in the second quarter valued at about $62,000. Finally, State of Wyoming acquired a new stake in Castle Biosciences during the second quarter valued at approximately $117,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wall Street Zen raised Castle Biosciences from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Robert W. Baird set a $36.00 price target on Castle Biosciences in a research note on Friday, July 31st. BTIG Research increased their price target on Castle Biosciences from $40.00 to $44.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Weiss Ratings upgraded Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. Finally, Roth Capital started coverage on Castle Biosciences in a report on Wednesday, June 24th. They set a “buy” rating and a $40.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Castle Biosciences Company Profile

Castle Biosciences, Inc is a molecular diagnostics company that develops and commercializes tests designed to help physicians diagnose cancer, assess disease risk and guide treatment decisions. The company focuses on conditions in which additional biological information can complement traditional pathology and clinical assessment.

Its portfolio includes DecisionDx-Melanoma, which helps evaluate the risk of metastatic recurrence in patients with cutaneous melanoma; DecisionDx-SCC, which assesses metastatic risk in cutaneous squamous cell carcinoma; and DecisionDx-UM, a test for determining metastatic risk in uveal melanoma.