Castle Biosciences (NASDAQ:CSTL) Insider Derek Maetzold Sells 8,580 Shares

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek Maetzold sold 8,580 shares of the business’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $35.33, for a total value of $303,131.40. Following the transaction, the insider directly owned 21,479 shares in the company, valued at $758,853.07. This trade represents a 28.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Trading Up 0.1%

Shares of NASDAQ CSTL traded up $0.03 during midday trading on Wednesday, reaching $34.88. 348,274 shares of the stock were exchanged, compared to its average volume of 397,700. The company has a 50 day simple moving average of $30.74 and a 200 day simple moving average of $25.77. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.85 and a current ratio of 6.04. The stock has a market capitalization of $1.07 billion, a P/E ratio of -52.85 and a beta of 0.99. Castle Biosciences, Inc. has a twelve month low of $17.72 and a twelve month high of $44.28.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.07) earnings per share for the quarter, beating 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 analysts’ expectations of $86.23 million. As a group, equities analysts expect that Castle Biosciences, Inc. will post -1.29 earnings per share for the current year.

Hedge Funds Weigh In On Castle Biosciences

Hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. raised its stake in shares of Castle Biosciences by 9.3% during the first quarter. Assetmark Inc. now owns 5,779 shares of the company’s stock valued at $142,000 after purchasing an additional 492 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in shares of Castle Biosciences by 140.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,750 shares of the company’s stock worth $68,000 after purchasing an additional 1,022 shares in the last quarter. Global Retirement Partners LLC purchased a new position in shares of Castle Biosciences in the second quarter valued at $26,000. Summit Global Investments grew its holdings in Castle Biosciences by 10.9% during the 1st quarter. Summit Global Investments now owns 13,718 shares of the company’s stock valued at $337,000 after purchasing an additional 1,353 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Castle Biosciences by 0.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 160,663 shares of the company’s stock valued at $3,944,000 after purchasing an additional 1,492 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CSTL shares. Roth Capital initiated coverage on shares of Castle Biosciences in a research note on Wednesday, June 24th. They set a “buy” rating and a $40.00 target price for the company. Wall Street Zen raised Castle Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings raised shares of Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. Zacks Research cut Castle Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, KeyCorp set a $35.00 price objective on Castle Biosciences in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Castle Biosciences has an average rating of “Moderate Buy” and a consensus price target of $42.00.

About Castle Biosciences

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.