Castle Biosciences, Inc. (NASDAQ:CSTL) CFO Sells $257,000.00 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) CFO Frank Stokes sold 10,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $25.70, for a total transaction of $257,000.00. Following the completion of the sale, the chief financial officer now directly owns 30,823 shares in the company, valued at approximately $792,151.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Castle Biosciences Trading Up 0.6 %

CSTL stock opened at $27.14 on Friday. The company has a market capitalization of $749.25 million, a PE ratio of -23.60 and a beta of 0.93. Castle Biosciences, Inc. has a 12 month low of $12.07 and a 12 month high of $28.22. The firm’s 50-day moving average is $21.92 and its 200 day moving average is $22.21. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.25 and a quick ratio of 9.02.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of ($0.16) by $0.47. The company had revenue of $87.00 million for the quarter, compared to the consensus estimate of $69.95 million. Castle Biosciences had a negative net margin of 12.28% and a negative return on equity of 7.91%. During the same quarter last year, the firm posted ($0.70) EPS. On average, research analysts anticipate that Castle Biosciences, Inc. will post -1.66 EPS for the current year.

Wall Street Analyst Weigh In

CSTL has been the topic of several recent analyst reports. Stephens reissued an “overweight” rating and issued a $37.00 target price on shares of Castle Biosciences in a research note on Tuesday, August 6th. Robert W. Baird increased their target price on shares of Castle Biosciences from $34.00 to $37.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $32.80.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CSTL. RiverPark Advisors LLC increased its position in Castle Biosciences by 362.2% during the 1st quarter. RiverPark Advisors LLC now owns 2,861 shares of the company’s stock valued at $63,000 after purchasing an additional 2,242 shares during the period. Assetmark Inc. increased its position in Castle Biosciences by 21.3% during the 4th quarter. Assetmark Inc. now owns 4,736 shares of the company’s stock valued at $102,000 after purchasing an additional 832 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Castle Biosciences by 70.3% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 5,297 shares of the company’s stock valued at $117,000 after purchasing an additional 2,187 shares during the period. Allspring Global Investments Holdings LLC increased its position in Castle Biosciences by 943.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,739 shares of the company’s stock valued at $124,000 after purchasing an additional 5,189 shares during the period. Finally, WuXi AppTec Co. Ltd. purchased a new position in Castle Biosciences during the 4th quarter valued at about $143,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

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.