Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Sells $63,636.44 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 1,972 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $32.27, for a total transaction of $63,636.44. Following the transaction, the insider now directly owns 91,664 shares in the company, valued at approximately $2,957,997.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Castle Biosciences Stock Up 0.9 %

Shares of NASDAQ:CSTL opened at $33.77 on Thursday. The company has a quick ratio of 7.92, a current ratio of 8.12 and a debt-to-equity ratio of 0.02. The firm’s 50-day simple moving average is $29.30 and its 200-day simple moving average is $24.43. The company has a market cap of $932.29 million, a price-to-earnings ratio of -29.37 and a beta of 1.03. Castle Biosciences, Inc. has a fifty-two week low of $12.23 and a fifty-two week high of $34.50.

Castle Biosciences (NASDAQ:CSTL) last announced its earnings results on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.47. Castle Biosciences had a negative net margin of 1.08% and a negative return on equity of 0.77%. The firm had revenue of $87.00 million during the quarter, compared to the consensus estimate of $69.95 million. During the same quarter in the previous year, the company posted ($0.70) EPS. As a group, equities research analysts predict that Castle Biosciences, Inc. will post -0.58 earnings per share for the current year.

Hedge Funds Weigh In On Castle Biosciences

A number of institutional investors have recently made changes to their positions in CSTL. Creative Planning bought a new stake in Castle Biosciences in the third quarter valued at about $299,000. Inspire Investing LLC grew its position in Castle Biosciences by 14.4% in the 3rd quarter. Inspire Investing LLC now owns 42,516 shares of the company’s stock worth $1,213,000 after purchasing an additional 5,349 shares during the last quarter. Truist Financial Corp grew its holdings in Castle Biosciences by 20.5% in the 2nd quarter. Truist Financial Corp now owns 14,217 shares of the company’s stock worth $310,000 after buying an additional 2,420 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Castle Biosciences during the second quarter valued at $1,171,000. Finally, The Manufacturers Life Insurance Company increased 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 buying an additional 675 shares during the period. 92.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CSTL shares. Robert W. Baird upped their target price on shares of Castle Biosciences from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Tuesday, August 6th. BTIG Research raised their price objective on shares of Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Stephens reiterated an “overweight” rating and issued a $37.00 price objective on shares of Castle Biosciences in a report on Tuesday, August 6th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $34.00.

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.