Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Sells $80,418.30 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 2,715 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $29.62, for a total transaction of $80,418.30. Following the sale, the insider now owns 82,047 shares of the company’s stock, valued at $2,430,232.14. This trade represents a 3.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Castle Biosciences Stock Down 7.5 %

CSTL stock opened at $30.25 on Friday. The business has a 50 day moving average of $29.81 and a 200 day moving average of $27.87. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. The firm has a market cap of $847.21 million, a PE ratio of 151.26 and a beta of 0.92. Castle Biosciences, Inc. has a twelve month low of $16.97 and a twelve month high of $35.84.

Castle Biosciences (NASDAQ:CSTL) last issued its earnings results on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.14. The business had revenue of $85.78 million during 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 previous year, the company earned ($0.26) earnings per share. On average, research analysts forecast that Castle Biosciences, Inc. will post 0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CSTL shares. Scotiabank boosted their target price on shares of Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a report on Wednesday, November 6th. Lake Street Capital boosted their price target on shares of Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group raised their price objective on shares of Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Robert W. Baird increased their target price on Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, KeyCorp lifted their price target on Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $40.29.

Institutional Trading of Castle Biosciences

Several institutional investors have recently added to or reduced their stakes in CSTL. Point72 Asset Management L.P. lifted its holdings in shares of Castle Biosciences by 828.3% during the third quarter. Point72 Asset Management L.P. now owns 499,192 shares of the company’s stock valued at $14,237,000 after purchasing an additional 445,415 shares in the last quarter. Marshall Wace LLP lifted its stake in Castle Biosciences by 116.5% during the 2nd quarter. Marshall Wace LLP now owns 212,036 shares of the company’s stock valued at $4,616,000 after acquiring an additional 114,104 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings 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 valued at $4,719,000 after acquiring an additional 98,571 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Castle Biosciences by 47.3% in the second quarter. Renaissance Technologies LLC now owns 301,500 shares of the company’s stock worth $6,564,000 after acquiring an additional 96,800 shares during the period. Finally, Acadian Asset Management LLC grew its stake in shares of Castle Biosciences by 33.0% in the second quarter. Acadian Asset Management LLC now owns 280,497 shares of the company’s stock worth $6,101,000 after acquiring an additional 69,673 shares during the period. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

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.