Derek Maetzold Sells 6,214 Shares of Castle Biosciences (NASDAQ:CSTL) Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek Maetzold sold 6,214 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $22.15, for a total value of $137,640.10. Following the completion of the sale, the insider directly owned 21,479 shares in the company, valued at approximately $475,759.85. This represents a 22.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Stock Performance

Castle Biosciences stock opened at $18.63 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 6.53. The stock has a fifty day moving average price of $24.72 and a two-hundred day moving average price of $32.06. Castle Biosciences, Inc. has a 52-week low of $14.59 and a 52-week high of $44.28. The firm has a market capitalization of $565.05 million, a P/E ratio of -42.34 and a beta of 1.11.

Castle Biosciences (NASDAQ:CSTL) last issued its earnings results on Wednesday, May 6th. The company reported ($0.49) EPS for the quarter, meeting the consensus estimate of ($0.49). Castle Biosciences had a negative net margin of 3.78% and a negative return on equity of 2.77%. The company had revenue of $84.23 million for the quarter, compared to the consensus estimate of $79.23 million. As a group, analysts anticipate that Castle Biosciences, Inc. will post -1.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Castle Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Truist Financial Corp lifted its holdings in Castle Biosciences by 1.1% during the fourth quarter. Truist Financial Corp now owns 23,628 shares of the company’s stock worth $919,000 after acquiring an additional 257 shares in the last quarter. Harbor Capital Advisors Inc. grew 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 period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of 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 raised its position in shares of Castle Biosciences by 20.5% during the fourth quarter. CWM LLC now owns 2,302 shares of the company’s stock worth $90,000 after purchasing an additional 391 shares during the period. Finally, HRT Financial LP raised its position in shares of Castle Biosciences by 0.9% during the fourth quarter. HRT Financial LP now owns 47,654 shares of the company’s stock worth $1,853,000 after purchasing an additional 415 shares during the period. Institutional investors and hedge funds own 92.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CSTL. Guggenheim upped their price objective on shares of Castle Biosciences from $43.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Morgan Stanley upgraded shares of Castle Biosciences to a “buy” rating in a research note on Monday, March 2nd. KeyCorp reissued an “overweight” rating and issued a $50.00 target price on shares of Castle Biosciences in a report on Thursday, January 29th. Zacks Research raised Castle Biosciences from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Finally, Weiss Ratings downgraded Castle Biosciences from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $46.00.

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.