Insider Selling: Castle Biosciences (NASDAQ:CSTL) Insider Sells 6,480 Shares of Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek Maetzold sold 6,480 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $30.15, for a total value of $195,372.00. Following the transaction, the insider directly owned 21,479 shares of the company’s stock, valued at $647,591.85. This represents a 23.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Price Performance

NASDAQ:CSTL traded up $0.76 during mid-day trading on Tuesday, reaching $31.15. 627,364 shares of the stock were exchanged, compared to its average volume of 403,923. The company has a current ratio of 6.04, a quick ratio of 5.85 and a debt-to-equity ratio of 0.02. The business has a fifty day moving average price of $22.97 and a 200 day moving average price of $26.37. Castle Biosciences, Inc. has a 1-year low of $17.72 and a 1-year high of $44.28. The firm has a market capitalization of $944.78 million, a PE ratio of -47.20 and a beta of 0.98.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates 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%. Research analysts expect that Castle Biosciences, Inc. will post -1.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on CSTL. KeyCorp set a $35.00 price target on shares of Castle Biosciences in a report on Friday, May 29th. Weiss Ratings raised Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday. Zacks Research downgraded Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Robert W. Baird set a $36.00 target price on Castle Biosciences in a research report on Friday. Finally, BTIG Research raised their price target on Castle Biosciences from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $42.00.

Institutional Trading of Castle Biosciences

Several large investors have recently added to or reduced their stakes in the business. Summit Global Investments acquired a new position in shares of Castle Biosciences during the 2nd quarter worth $312,000. First Bank & Trust lifted its stake in shares of Castle Biosciences by 12.6% in the 2nd quarter. First Bank & Trust now owns 18,591 shares of the company’s stock valued at $443,000 after purchasing an additional 2,087 shares during the last quarter. Empowered Funds LLC boosted its holdings in Castle Biosciences by 8.4% in the first quarter. Empowered Funds LLC now owns 132,184 shares of the company’s stock worth $3,245,000 after purchasing an additional 10,264 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Castle Biosciences by 46.6% in the first quarter. The Manufacturers Life Insurance Company now owns 12,438 shares of the company’s stock worth $305,000 after purchasing an additional 3,951 shares in the last quarter. Finally, Quantinno Capital Management LP increased its position in Castle Biosciences by 387.3% during the first quarter. Quantinno Capital Management LP now owns 45,476 shares of the company’s stock worth $1,116,000 after buying an additional 36,144 shares during the last quarter. 92.60% of the stock is owned by institutional investors.

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.