Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Sells $265,375.76 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 9,364 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $28.34, for a total transaction of $265,375.76. Following the sale, the insider now directly owns 84,762 shares of the company’s stock, valued at $2,402,155.08. The trade was a 9.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Castle Biosciences Stock Up 2.1 %

Shares of CSTL opened at $27.09 on Friday. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. The firm has a market cap of $758.71 million, a P/E ratio of 135.46 and a beta of 0.92. The company’s 50-day moving average price is $31.17 and its 200 day moving average price is $27.20. Castle Biosciences, Inc. has a 12-month low of $16.97 and a 12-month high of $35.84.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.14. The business had revenue of $85.78 million for the quarter, compared to the consensus estimate of $78.55 million. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. During the same period in the previous year, the firm earned ($0.26) EPS. On average, sell-side analysts forecast that Castle Biosciences, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CSTL. BTIG Research boosted their price target on shares of Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Lake Street Capital boosted their price objective on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. KeyCorp boosted their price target on shares of Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Scotiabank raised their price objective on shares of Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 6th. Finally, Robert W. Baird lifted their target price on shares of Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $39.71.

Institutional Trading of Castle Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Castle Biosciences by 147.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,458 shares of the company’s stock worth $4,719,000 after buying an additional 98,571 shares during the period. Harbor Capital Advisors Inc. lifted its stake in Castle Biosciences by 11.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 153,907 shares of the company’s stock worth $4,389,000 after acquiring an additional 15,200 shares in the last quarter. Lisanti Capital Growth LLC boosted its holdings in Castle Biosciences by 60.2% during the 3rd quarter. Lisanti Capital Growth LLC now owns 154,710 shares of the company’s stock valued at $4,412,000 after acquiring an additional 58,160 shares during the period. Charles Schwab Investment Management Inc. grew its position in Castle Biosciences by 16.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 274,761 shares of the company’s stock valued at $7,836,000 after acquiring an additional 39,417 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Castle Biosciences during the third quarter worth about $1,478,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

About Castle Biosciences

Castle Biosciences, Inc, a molecular diagnostics company, provides testing solutions for the diagnosis and treatment of dermatologic cancers, Barrett's esophagus, uveal melanoma, and mental health conditions. It offers DecisionDx-Melanoma, a risk stratification gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma; DecisionDx-SCC, a proprietary risk stratification GEP test for patients with cutaneous squamous cell carcinoma; MyPath Melanoma, a test used for patients with difficult-to-diagnose melanocytic lesions; and TissueCypher, a spatial omics test to predict future development of high-grade dysplasia and/or esophageal cancer in patients with non-dysplastic, indefinite dysplasia, or low-grade dysplasia Barrett's esophagus.