Insider Selling: Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Sells 1,972 Shares of Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 1,972 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $34.15, for a total transaction of $67,343.80. Following the transaction, the insider now directly owns 87,720 shares in the company, valued at $2,995,638. The trade was a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Castle Biosciences Stock Down 8.9 %

Castle Biosciences stock opened at $28.10 on Friday. Castle Biosciences, Inc. has a 1-year low of $16.97 and a 1-year high of $35.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64. The stock’s 50 day moving average price is $31.14 and its 200 day moving average price is $26.29. The company has a market cap of $787.08 million, a PE ratio of 140.51 and a beta of 0.99.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.14. The business had revenue of $85.78 million for the quarter, compared to analysts’ expectations of $78.55 million. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. During the same period in the prior year, the company posted ($0.26) EPS. On average, sell-side analysts predict that Castle Biosciences, Inc. will post -0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CSTL has been the topic of a number of research reports. Stephens reissued an “overweight” rating and set a $37.00 price target on shares of Castle Biosciences in a report on Tuesday, August 6th. Canaccord Genuity Group boosted their target price on Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Lake Street Capital increased their price target on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. BTIG Research lifted their price objective on shares of Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Robert W. Baird upped their price objective on shares of Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Castle Biosciences currently has an average rating of “Buy” and an average target price of $37.88.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. grew its holdings in shares of Castle Biosciences by 828.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 499,192 shares of the company’s stock worth $14,237,000 after acquiring an additional 445,415 shares during the period. Acadian Asset Management LLC boosted its position in Castle Biosciences by 130.7% during the first quarter. Acadian Asset Management LLC now owns 210,824 shares of the company’s stock worth $4,669,000 after purchasing an additional 119,443 shares in the last quarter. Marshall Wace LLP boosted its position in Castle Biosciences by 116.5% during the second quarter. Marshall Wace LLP now owns 212,036 shares of the company’s stock worth $4,616,000 after purchasing an additional 114,104 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Castle Biosciences by 249.3% in the second quarter. Harbor Capital Advisors Inc. now owns 138,707 shares of the company’s stock valued at $3,020,000 after purchasing an additional 99,001 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Castle Biosciences by 147.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,458 shares of the company’s stock worth $4,719,000 after buying an additional 98,571 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

About Castle Biosciences

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.