Castle Biosciences (NASDAQ:CSTL) Insider Sells 1,730 Shares

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Tobin Juvenal sold 1,730 shares of Castle Biosciences stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $28.25, for a total transaction of $48,872.50. Following the transaction, the insider directly owned 78,995 shares in the company, valued at approximately $2,231,608.75. The trade was a 2.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Stock Up 2.5%

Castle Biosciences stock traded up $0.76 during mid-day trading on Tuesday, reaching $31.15. 675,143 shares of the company were exchanged, compared to its average volume of 403,923. The business has a fifty day moving average of $22.97 and a 200 day moving average of $26.37. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.85 and a current ratio of 6.04. The firm has a market cap of $944.78 million, a P/E ratio of -47.20 and a beta of 0.98. Castle Biosciences, Inc. has a 12-month low of $17.72 and a 12-month high of $44.28.

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

Trending Headlines about Castle Biosciences

Here are the key news stories impacting Castle Biosciences this week:

• Positive Sentiment: BTIG raises price target and maintains Buy rating: BTIG Research increased its target for Castle Biosciences from $40 to $44 and kept a “buy” rating. The new target implies substantial upside from the referenced trading level, signaling confidence in the company’s growth outlook and diagnostics business. BTIG raises Castle Biosciences price target
• Neutral Sentiment: Diagnostics update draws investor attention: A recent report highlighted an update involving Castle Biosciences’ diagnostic operations, but the available information does not provide enough detail to determine its expected effect on revenue, reimbursement, or earnings. Castle Biosciences diagnostics update
• Negative Sentiment: Insiders disclosed sizable share sales: Derek J. Maetzold sold 28,646 shares for approximately $867,000 across July 31 and August 3, while Tobin W. Juvenal sold 19,040 shares for approximately $556,000. The transactions reduced their reported holdings and could raise concerns about insider confidence or add selling pressure. However, all sales were executed under pre-arranged Rule 10b5-1 plans, meaning they were likely scheduled in advance rather than based on current market conditions. Castle Biosciences insider sale filing

Wall Street Analysts Forecast Growth

Several analysts have commented on CSTL shares. Weiss Ratings raised shares of Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday. Roth Capital started coverage on shares of Castle Biosciences in a research report on Wednesday, June 24th. They issued a “buy” rating and a $40.00 price objective on the stock. Zacks Research cut shares of Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Robert W. Baird set a $36.00 target price on shares of Castle Biosciences in a research note on Friday. Finally, BTIG Research lifted their price target on shares of Castle Biosciences from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Castle Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Hedge Funds Weigh In On Castle Biosciences

Several hedge funds have recently modified their holdings of the stock. RTW Investments LP acquired a new position in shares of Castle Biosciences during the 4th quarter worth approximately $82,283,000. Summit Partners Public Asset Management LLC grew its stake in Castle Biosciences by 164.7% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company’s stock valued at $41,184,000 after acquiring an additional 658,725 shares during the period. Eventide Asset Management LLC purchased a new stake in Castle Biosciences in the 4th quarter worth $11,864,000. SG Americas Securities LLC increased its holdings in Castle Biosciences by 1,051.8% in the 1st quarter. SG Americas Securities LLC now owns 244,886 shares of the company’s stock worth $6,012,000 after acquiring an additional 223,624 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in Castle Biosciences during the fourth quarter worth $8,502,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Castle Biosciences Company Profile

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.