Frank Stokes Sells 7,000 Shares of Castle Biosciences (NASDAQ:CSTL) Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) CFO Frank Stokes sold 7,000 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $27.44, for a total transaction of $192,080.00. Following the sale, the chief financial officer directly owned 52,483 shares of the company’s stock, valued at $1,440,133.52. This represents a 11.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Castle Biosciences Trading Down 2.8%

Shares of Castle Biosciences stock opened at $27.12 on Friday. The company has a current ratio of 5.26, a quick ratio of 5.11 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a twelve month low of $14.59 and a twelve month high of $44.28. The firm has a market capitalization of $806.28 million, a PE ratio of -31.91 and a beta of 1.09. The firm’s 50-day moving average price is $35.92 and its 200 day moving average price is $31.41.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.15. Castle Biosciences had a negative return on equity of 0.89% and a negative net margin of 7.02%.The company had revenue of $81.88 million during the quarter, compared to analyst estimates of $81.19 million. On average, sell-side analysts predict that Castle Biosciences, Inc. will post 0.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CSTL. Morgan Stanley upgraded Castle Biosciences to a “buy” rating in a research report on Monday. Weiss Ratings restated a “sell (d)” rating on shares of Castle Biosciences in a report on Monday, December 29th. Robert W. Baird lifted their target price on shares of Castle Biosciences from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. BTIG Research upped their target price on shares of Castle Biosciences from $38.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Finally, Guggenheim increased their target price on shares of Castle Biosciences from $43.00 to $47.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Castle Biosciences currently has an average rating of “Moderate Buy” and an average target price of $47.57.

Institutional Investors Weigh In On Castle Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. acquired a new position in Castle Biosciences during the fourth quarter worth $26,000. Farther Finance Advisors LLC increased its stake in shares of Castle Biosciences by 139,100.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,392 shares of the company’s stock worth $32,000 after acquiring an additional 1,391 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Castle Biosciences in the 3rd quarter worth $35,000. Kemnay Advisory Services Inc. purchased a new position in shares of Castle Biosciences during the 4th quarter worth $35,000. Finally, CWM LLC raised its holdings in shares of Castle Biosciences by 80.6% during the 3rd quarter. CWM LLC now owns 1,911 shares of the company’s stock worth $44,000 after acquiring an additional 853 shares during the period. Institutional investors and hedge funds own 92.60% of the company’s stock.

About Castle Biosciences

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.