Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Sells $265,375.76 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 9,364 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $28.34, for a total value of $265,375.76. Following the completion of the transaction, the insider now directly owns 84,762 shares in the company, valued at $2,402,155.08. The trade was a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Castle Biosciences Trading Up 2.1 %

Shares of CSTL traded up $0.57 during trading hours on Thursday, hitting $27.09. 355,679 shares of the stock traded hands, compared to its average volume of 326,560. The business has a fifty day moving average of $31.20 and a 200-day moving average of $27.20. The firm has a market capitalization of $758.71 million, a PE ratio of 135.46 and a beta of 0.92. Castle Biosciences, Inc. has a 1-year low of $16.97 and a 1-year high of $35.84. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last released its earnings results on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.14. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The company had revenue of $85.78 million for the quarter, compared to the consensus estimate of $78.55 million. During the same period in the prior year, the company posted ($0.26) EPS. Analysts expect that Castle Biosciences, Inc. will post 0.34 EPS for the current year.

Hedge Funds Weigh In On Castle Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quest Partners LLC raised its position in shares of Castle Biosciences by 54.4% during the 3rd quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock valued at $123,000 after acquiring an additional 1,522 shares during the last quarter. US Bancorp DE boosted its position in shares of Castle Biosciences by 1,889.2% in the 3rd quarter. US Bancorp DE now owns 4,615 shares of the company’s stock worth $132,000 after purchasing an additional 4,383 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Castle Biosciences during the third quarter worth $140,000. Assetmark Inc. increased its holdings in Castle Biosciences by 16.8% in the third quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock valued at $149,000 after purchasing an additional 748 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Castle Biosciences by 64.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock valued at $152,000 after purchasing an additional 2,093 shares during the last quarter. 92.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on CSTL shares. Canaccord Genuity Group lifted their price objective on Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Lake Street Capital raised their target price on Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. KeyCorp upped their price target on shares of Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. BTIG Research raised 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. Finally, Robert W. Baird boosted their target price on shares of Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Castle Biosciences presently has an average rating of “Buy” and an average target price of $39.71.

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.