Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Sells $25,090.80 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 1,236 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $20.30, for a total value of $25,090.80. Following the completion of the transaction, the insider now directly owns 77,099 shares of the company’s stock, valued at $1,565,109.70. The trade was a 1.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Castle Biosciences Stock Down 0.8 %

CSTL stock opened at $19.94 on Friday. Castle Biosciences, Inc. has a 52 week low of $16.97 and a 52 week high of $35.84. 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 50-day simple moving average of $24.19 and a 200-day simple moving average of $28.00. The stock has a market capitalization of $558.46 million, a P/E ratio of 99.70 and a beta of 0.98.

Analysts Set New Price Targets

CSTL has been the subject of several recent research reports. Stephens reaffirmed an “overweight” rating and set a $41.00 target price on shares of Castle Biosciences in a report on Thursday, January 2nd. Robert W. Baird lifted their price objective on shares of Castle Biosciences from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Finally, Guggenheim set a $30.00 target price on shares of Castle Biosciences and gave the stock a “buy” rating in a research note on Friday. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $38.75.

Institutional Investors Weigh In On Castle Biosciences

Several large investors have recently bought and sold shares of CSTL. Covestor Ltd acquired a new stake in shares of Castle Biosciences in the fourth quarter worth approximately $25,000. R Squared Ltd purchased a new position in Castle Biosciences in the 4th quarter valued at $42,000. Quest Partners LLC boosted its stake in Castle Biosciences by 54.4% during the 3rd quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock worth $123,000 after purchasing an additional 1,522 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Castle Biosciences during the fourth quarter worth $128,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Castle Biosciences in the third quarter valued at about $140,000. 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.