Castle Biosciences (NASDAQ:CSTL) Insider Tobin Juvenal Sells 3,306 Shares of Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Tobin Juvenal sold 3,306 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $32.32, for a total value of $106,849.92. Following the completion of the sale, the insider owned 61,878 shares of the company’s stock, valued at $1,999,896.96. This trade represents a 5.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Price Performance

Shares of CSTL stock traded down $0.02 during mid-day trading on Wednesday, hitting $35.48. 559,268 shares of the stock traded hands, compared to its average volume of 397,261. Castle Biosciences, Inc. has a twelve month low of $17.72 and a twelve month high of $44.28. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -53.76 and a beta of 0.99. The company’s 50-day simple moving average is $29.56 and its 200-day simple moving average is $25.54. 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 (NASDAQ:CSTL) last posted 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 company had revenue of $99.86 million during the quarter, compared to analyst estimates 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, equities research analysts expect that Castle Biosciences, Inc. will post -1.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Weiss Ratings upgraded Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, July 31st. Zacks Research cut Castle Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Robert W. Baird set a $36.00 target price on Castle Biosciences in a research report on Friday, July 31st. Roth Capital began coverage on Castle Biosciences in a report on Wednesday, June 24th. They set a “buy” rating and a $40.00 target price for the company. Finally, KeyCorp set a $35.00 price target on Castle Biosciences in a research report on Friday, May 29th. One investment 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. According to data from MarketBeat, Castle Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Institutional Investors Weigh In On Castle Biosciences

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Castle Biosciences in the 2nd quarter worth approximately $78,513,000. Summit Partners Public Asset Management LLC raised its stake in Castle Biosciences by 164.7% during 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 purchasing an additional 658,725 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of Castle Biosciences in the second quarter valued at $15,440,000. AIGH Capital Management LLC purchased a new stake in shares of Castle Biosciences in the second quarter valued at $13,001,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Castle Biosciences in the second quarter worth $7,912,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Castle Biosciences Company Profile

Castle Biosciences, Inc is a molecular diagnostics company that develops and commercializes tests designed to help physicians make more informed decisions about cancer diagnosis and treatment. Its products use genomic and molecular information to assess disease characteristics, patient risk and likely outcomes.

The company’s portfolio includes DecisionDx-Melanoma, which helps assess the risk of metastasis in patients with cutaneous melanoma; DecisionDx-SCC, which evaluates metastatic risk in certain patients with cutaneous squamous cell carcinoma; and MyPath Melanoma, which assists in distinguishing benign from malignant melanocytic lesions.