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 that occurred on Tuesday, November 12th. The shares were sold at an average price of $34.15, for a total value of $67,343.80. Following the transaction, the insider now directly owns 87,720 shares of the company’s stock, valued at approximately $2,995,638. This trade represents a 2.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Castle Biosciences Trading Down 3.1 %

NASDAQ:CSTL traded down $0.97 during mid-day trading on Thursday, hitting $30.83. The company had a trading volume of 340,798 shares, compared to its average volume of 325,705. The business’s fifty day moving average is $31.13 and its two-hundred day moving average is $26.18. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78. Castle Biosciences, Inc. has a fifty-two week low of $16.97 and a fifty-two week high of $35.84. The firm has a market cap of $863.55 million, a P/E ratio of 159.01 and a beta of 0.99.

Castle Biosciences (NASDAQ:CSTL) last announced its 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 company had revenue of $85.78 million for the quarter, compared to analyst estimates of $78.55 million. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. During the same quarter last year, the company earned ($0.26) earnings per share. As a group, research analysts expect that Castle Biosciences, Inc. will post -0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CSTL. Stephens reissued an “overweight” rating and set a $37.00 price target on shares of Castle Biosciences in a research note on Tuesday, August 6th. Scotiabank upped their target price on shares of Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a research report on Wednesday, November 6th. Lake Street Capital raised their price objective on shares of Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. KeyCorp lifted their target price on shares of Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Canaccord Genuity Group upped their target price on Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, Castle Biosciences has an average rating of “Buy” and a consensus price target of $37.88.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CSTL. Algert Global LLC grew its stake in Castle Biosciences by 0.4% in the 3rd quarter. Algert Global LLC now owns 134,321 shares of the company’s stock valued at $3,831,000 after buying an additional 599 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Castle Biosciences by 7.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,122 shares of the company’s stock valued at $220,000 after purchasing an additional 675 shares during the last quarter. Assetmark Inc. grew its stake in shares of Castle Biosciences by 16.8% during the 3rd quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock valued at $149,000 after purchasing an additional 748 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Castle Biosciences by 10.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock worth $215,000 after acquiring an additional 952 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Castle Biosciences by 6.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,034 shares of the company’s stock valued at $400,000 after acquiring an additional 1,131 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

Castle Biosciences Company Profile

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.