Derek J. Maetzold Sells 2,715 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 2,715 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $29.62, for a total value of $80,418.30. Following the completion of the transaction, the insider now directly owns 82,047 shares in the company, valued at $2,430,232.14. The trade was a 3.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Castle Biosciences Trading Down 7.5 %

Shares of Castle Biosciences stock opened at $30.25 on Friday. Castle Biosciences, Inc. has a fifty-two week low of $16.97 and a fifty-two week high of $35.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78. The company has a market capitalization of $847.21 million, a P/E ratio of 151.26 and a beta of 0.92. The company has a fifty day moving average of $29.81 and a 200 day moving average of $27.87.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC lifted its holdings in shares of Castle Biosciences by 54.4% in the third quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock worth $123,000 after buying an additional 1,522 shares in the last quarter. US Bancorp DE increased its holdings in Castle Biosciences by 1,889.2% in the 3rd quarter. US Bancorp DE now owns 4,615 shares of the company’s stock valued at $132,000 after acquiring an additional 4,383 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in Castle Biosciences in the 3rd quarter worth $140,000. Assetmark Inc. lifted its stake in Castle Biosciences by 16.8% in the 3rd quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock worth $149,000 after purchasing an additional 748 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Castle Biosciences by 64.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock valued at $152,000 after purchasing an additional 2,093 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CSTL has been the topic of a number of research reports. BTIG Research raised their price objective on shares of Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Stephens reiterated an “overweight” rating and set a $41.00 price target on shares of Castle Biosciences in a research note on Thursday, January 2nd. Canaccord Genuity Group upped their price objective on Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Scotiabank boosted their price target on Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a report on Wednesday, November 6th. Finally, Lake Street Capital upped their price target on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $40.29.

Castle Biosciences Company Profile

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.