Insider Selling: Castle Biosciences (NASDAQ:CSTL) Director Sells $210,763.41 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) Director G Bradley Cole sold 7,403 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $28.47, for a total value of $210,763.41. Following the sale, the director directly owned 19,309 shares of the company’s stock, valued at $549,727.23. This trade represents a 27.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Castle Biosciences Trading Down 1.8%

Shares of NASDAQ CSTL opened at $26.13 on Thursday. The business has a 50 day simple moving average of $35.17 and a 200 day simple moving average of $31.62. Castle Biosciences, Inc. has a 52 week low of $14.59 and a 52 week high of $44.28. The stock has a market cap of $776.87 million, a price-to-earnings ratio of -30.74 and a beta of 1.09. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.11 and a current ratio of 5.26.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.15. The firm had revenue of $81.88 million for the quarter, compared to analyst estimates of $81.19 million. Castle Biosciences had a negative net margin of 7.02% and a negative return on equity of 0.89%. On average, research analysts predict that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CSTL. KeyCorp reaffirmed an “overweight” rating and issued a $50.00 price objective on shares of Castle Biosciences in a research note on Thursday, January 29th. Zacks Research downgraded shares of Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Weiss Ratings restated a “sell (d)” rating on shares of Castle Biosciences in a report on Monday, December 29th. Guggenheim boosted their price target on Castle Biosciences from $43.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, BTIG Research upped their price target on Castle Biosciences from $38.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.57.

Institutional Investors Weigh In On Castle Biosciences

A number of institutional investors have recently added to or reduced their stakes in CSTL. Truist Financial Corp increased its stake in Castle Biosciences by 1.1% during the fourth quarter. Truist Financial Corp now owns 23,628 shares of the company’s stock valued at $919,000 after acquiring an additional 257 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of Castle Biosciences by 2.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 13,432 shares of the company’s stock worth $523,000 after acquiring an additional 261 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Castle Biosciences by 26.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,418 shares of the company’s stock worth $55,000 after acquiring an additional 297 shares during the period. CWM LLC grew its holdings in shares of Castle Biosciences by 20.5% during the 4th quarter. CWM LLC now owns 2,302 shares of the company’s stock worth $90,000 after purchasing an additional 391 shares in the last quarter. Finally, HRT Financial LP grew its holdings in shares of Castle Biosciences by 0.9% during the 4th quarter. HRT Financial LP now owns 47,654 shares of the company’s stock worth $1,853,000 after purchasing an additional 415 shares in the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.

About Castle Biosciences

Castle Biosciences, Inc is a molecular diagnostics company specializing in the development and commercialization of prognostic and diagnostic tests for patients with dermatologic conditions. The company’s proprietary portfolio of genomic assays is designed to improve risk assessment and guide clinical decision-making for individuals with skin cancers and other skin-related diseases. By combining genomic data with advanced statistical algorithms, Castle Biosciences seeks to provide actionable insights that help physicians tailor treatment plans and monitoring strategies.

The company’s flagship test, DecisionDx-Melanoma, evaluates the probability of metastasis in patients diagnosed with cutaneous melanoma, supporting more personalized surveillance and therapeutic approaches.