Castle Biosciences (NASDAQ:CSTL) Insider Sells $115,751.16 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Tobin Juvenal sold 3,294 shares of Castle Biosciences stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $35.14, for a total transaction of $115,751.16. Following the completion of the sale, the insider owned 58,584 shares in the company, valued at approximately $2,058,641.76. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a legal 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 Trading Down 3.9%

Castle Biosciences stock opened at $35.34 on Friday. Castle Biosciences, Inc. has a 52-week low of $17.72 and a 52-week high of $44.28. The company has a quick ratio of 5.85, a current ratio of 6.04 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -53.55 and a beta of 0.99. The firm has a 50-day moving average price of $30.27 and a two-hundred day moving average price of $25.69.

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

Analysts Set New Price Targets

Several research firms recently weighed in on CSTL. KeyCorp set a $35.00 price objective on shares of Castle Biosciences in a report on Friday, May 29th. Roth Capital started coverage on shares of Castle Biosciences in a report on Wednesday, June 24th. They issued a “buy” rating and a $40.00 price objective for the company. BTIG Research boosted their target price on Castle Biosciences from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Robert W. Baird set a $36.00 target price on Castle Biosciences in a research report on Friday, July 31st. Finally, Weiss Ratings raised Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. One 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 assigned a Sell rating to the stock. According to MarketBeat.com, Castle Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Institutional Investors Weigh In On Castle Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Castle Biosciences in the second quarter worth $78,513,000. Summit Partners Public Asset Management LLC lifted its stake in Castle Biosciences by 164.7% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company’s stock worth $41,184,000 after acquiring an additional 658,725 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in Castle Biosciences in the 2nd quarter worth about $15,440,000. AIGH Capital Management LLC acquired a new stake in Castle Biosciences during the 2nd quarter worth about $13,001,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Castle Biosciences during the 2nd quarter valued at about $7,912,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Castle Biosciences Company Profile

Castle Biosciences, Inc is a molecular diagnostics company that develops and commercializes tests designed to help physicians make more informed decisions about cancer diagnosis and treatment. Its products use genomic and molecular information to assess disease characteristics, patient risk and likely outcomes.

The company’s portfolio includes DecisionDx-Melanoma, which helps assess the risk of metastasis in patients with cutaneous melanoma; DecisionDx-SCC, which evaluates metastatic risk in certain patients with cutaneous squamous cell carcinoma; and MyPath Melanoma, which assists in distinguishing benign from malignant melanocytic lesions.