Castle Biosciences (NASDAQ:CSTL) Insider Sells 10,664 Shares of Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek Maetzold sold 10,664 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $30.35, for a total value of $323,652.40. Following the completion of the sale, the insider owned 21,479 shares in the company, valued at $651,887.65. The trade was a 33.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Stock Performance

Shares of Castle Biosciences stock traded up $0.76 during trading on Tuesday, hitting $31.15. 627,364 shares of the stock were exchanged, compared to its average volume of 403,923. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.85 and a current ratio of 6.04. Castle Biosciences, Inc. has a 12 month low of $17.72 and a 12 month high of $44.28. The stock’s fifty day moving average is $22.97 and its 200 day moving average is $26.37. The stock has a market cap of $944.78 million, a PE ratio of -47.20 and a beta of 0.98.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.34. The firm had revenue of $99.86 million for the quarter, compared to the consensus estimate of $86.23 million. Castle Biosciences had a negative net margin of 5.43% and a negative return on equity of 4.15%. As a group, sell-side analysts anticipate that Castle Biosciences, Inc. will post -1.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CSTL. Wall Street Zen raised Castle Biosciences from a “sell” rating to a “hold” rating in a report on Saturday. Roth Capital initiated coverage on Castle Biosciences in a research report on Wednesday, June 24th. They issued a “buy” rating and a $40.00 target price on the stock. BTIG Research lifted their target price on Castle Biosciences from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Monday. Weiss Ratings raised Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday. Finally, Zacks Research lowered Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Castle Biosciences has an average rating of “Moderate Buy” and an average target price of $42.00.

Institutional Trading of Castle Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. acquired a new stake in shares of Castle Biosciences in the 4th quarter worth approximately $26,000. Kemnay Advisory Services Inc. acquired a new position in shares of Castle Biosciences during the fourth quarter valued at approximately $35,000. Jones Financial Companies Lllp raised its holdings in Castle Biosciences by 10,592.0% during the first quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company’s stock worth $54,000 after purchasing an additional 2,648 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Castle Biosciences by 26.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,418 shares of the company’s stock worth $55,000 after purchasing an additional 297 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Castle Biosciences by 63.7% in the third quarter. Russell Investments Group Ltd. now owns 2,508 shares of the company’s stock worth $57,000 after purchasing an additional 976 shares during the period. 92.60% of the stock is currently owned by institutional investors.

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.