Derek Maetzold Sells 20,356 Shares of Castle Biosciences (NASDAQ:CSTL) Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek Maetzold sold 20,356 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $31.11, for a total transaction of $633,275.16. Following the completion of the sale, the insider owned 21,479 shares of the company’s stock, valued at approximately $668,211.69. This represents a 48.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Stock Performance

Shares of CSTL traded up $0.07 during midday trading on Thursday, reaching $30.47. The stock had a trading volume of 833,433 shares, compared to its average volume of 407,908. The firm has a market cap of $930.86 million, a PE ratio of -46.17 and a beta of 0.98. The firm has a 50 day simple moving average of $23.38 and a 200-day simple moving average of $26.23. Castle Biosciences, Inc. has a one year low of $17.72 and a one year high of $44.28. The company has a current ratio of 6.04, a quick ratio of 5.85 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last issued its earnings results on Thursday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.34. Castle Biosciences had a negative net margin of 5.43% and a negative return on equity of 4.15%. The business had revenue of $99.86 million during the quarter, compared to the consensus estimate of $86.23 million. As a group, sell-side analysts anticipate that Castle Biosciences, Inc. will post -1.29 EPS for the current year.

Hedge Funds Weigh In On Castle Biosciences

A number of hedge funds have recently bought and sold shares of the business. Summit Partners Public Asset Management LLC increased its holdings in shares of Castle Biosciences by 164.7% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company’s stock worth $41,184,000 after purchasing an additional 658,725 shares during the period. SummitTX Capital L.P. grew its stake in Castle Biosciences by 285.0% during the first quarter. SummitTX Capital L.P. now owns 67,033 shares of the company’s stock worth $1,646,000 after buying an additional 49,623 shares in the last quarter. Eventide Asset Management LLC acquired a new stake in Castle Biosciences during the fourth quarter worth about $11,864,000. KBC Group NV bought a new position in Castle Biosciences in the 1st quarter valued at about $907,000. Finally, SG Americas Securities LLC raised its position in shares of Castle Biosciences by 1,051.8% in the 1st quarter. SG Americas Securities LLC now owns 244,886 shares of the company’s stock valued at $6,012,000 after buying an additional 223,624 shares in the last quarter. 92.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Zacks Research lowered Castle Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Weiss Ratings raised Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 31st. Wall Street Zen raised shares of Castle Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Canaccord Genuity Group decreased their price objective on shares of Castle Biosciences from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Finally, Robert W. Baird set a $36.00 target price on shares of Castle Biosciences in a report on Friday, July 31st. One 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 issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

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.