Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Sells $27,637.58 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 986 shares of Castle Biosciences stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $28.03, for a total value of $27,637.58. Following the completion of the transaction, the insider now directly owns 80,818 shares of the company’s stock, valued at approximately $2,265,328.54. This represents a 1.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Castle Biosciences Price Performance

Shares of NASDAQ:CSTL opened at $24.94 on Friday. The firm’s 50 day moving average price is $29.23 and its 200-day moving average price is $27.98. 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 stock has a market capitalization of $698.49 million, a PE ratio of 124.71 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 released its quarterly earnings results on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.14. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The business had revenue of $85.78 million for the quarter, compared to the consensus estimate of $78.55 million. During the same period last year, the firm earned ($0.26) earnings per share. Equities research analysts expect that Castle Biosciences, Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

CSTL has been the topic of several analyst reports. Lake Street Capital upped their price objective on Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. KeyCorp increased their price objective on Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. 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 note on Wednesday, November 6th. Stephens reiterated an “overweight” rating and issued a $41.00 price target on shares of Castle Biosciences in a research note on Thursday, January 2nd. Finally, BTIG Research increased 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. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $40.29.

Institutional Trading of Castle Biosciences

Several hedge funds have recently bought and sold shares of CSTL. Inspire Investing LLC raised its stake in shares of Castle Biosciences by 7.6% in the fourth quarter. Inspire Investing LLC now owns 45,750 shares of the company’s stock worth $1,219,000 after buying an additional 3,234 shares during the period. Green Alpha Advisors LLC purchased a new stake in Castle Biosciences in the 4th quarter worth approximately $249,000. JPMorgan Chase & Co. raised its stake in Castle Biosciences by 165.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 69,409 shares of the company’s stock worth $1,980,000 after acquiring an additional 43,241 shares during the period. Principal Financial Group Inc. lifted its holdings in Castle Biosciences by 2.7% during the third quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company’s stock valued at $43,879,000 after purchasing an additional 40,377 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Castle Biosciences by 87.3% in the third quarter. Franklin Resources Inc. now owns 69,382 shares of the company’s stock worth $1,979,000 after purchasing an additional 32,344 shares during the period. 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.