Castle Biosciences (NASDAQ:CSTL) Insider Sells $53,600.17 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek Maetzold sold 1,339 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $40.03, for a total value of $53,600.17. Following the transaction, the insider directly owned 37,547 shares in the company, valued at approximately $1,503,006.41. This trade represents a 3.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Castle Biosciences Stock Performance

Shares of CSTL traded down $0.54 during mid-day trading on Monday, reaching $38.10. The company’s stock had a trading volume of 332,131 shares, compared to its average volume of 456,200. The business has a 50-day simple moving average of $29.66 and a two-hundred day simple moving average of $23.12. Castle Biosciences, Inc. has a 1-year low of $14.59 and a 1-year high of $40.61. The stock has a market cap of $1.11 billion, a P/E ratio of -84.67 and a beta of 1.14. The company has a current ratio of 6.47, a quick ratio of 6.31 and a debt-to-equity ratio of 0.02.

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

Institutional Investors Weigh In On Castle Biosciences

Institutional investors have recently added to or reduced their stakes in the company. Schroder Investment Management Group increased its position in Castle Biosciences by 8.6% in the second quarter. Schroder Investment Management Group now owns 648,572 shares of the company’s stock worth $13,198,000 after buying an additional 51,483 shares during the last quarter. Advisors Capital Management LLC increased its position in shares of Castle Biosciences by 21.9% in the second quarter. Advisors Capital Management LLC now owns 245,867 shares of the company’s stock worth $5,021,000 after purchasing an additional 44,180 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in Castle Biosciences by 33.9% in the first quarter. Cubist Systematic Strategies LLC now owns 237,698 shares of the company’s stock worth $4,759,000 after acquiring an additional 60,161 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Castle Biosciences during the 1st quarter valued at about $329,000. Finally, Park West Asset Management LLC purchased a new position in shares of Castle Biosciences during the first quarter worth approximately $11,141,000. 92.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Weiss Ratings restated a “sell (d)” rating on shares of Castle Biosciences in a research note on Monday, December 1st. Wall Street Zen raised shares of Castle Biosciences from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. Zacks Research upgraded Castle Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Robert W. Baird boosted their price objective on shares of Castle Biosciences from $39.00 to $41.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $37.00 price target on shares of Castle Biosciences in a research note on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.43.

Castle Biosciences Company Profile

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.