Derek J. Maetzold Sells 986 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 986 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $28.03, for a total transaction of $27,637.58. Following the transaction, the insider now directly owns 80,818 shares of the company’s stock, valued at approximately $2,265,328.54. This trade represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Castle Biosciences Stock Down 1.7 %

Shares of CSTL stock traded down $0.44 during mid-day trading on Wednesday, reaching $25.02. 541,633 shares of the company’s stock traded hands, compared to its average volume of 634,804. The company’s 50-day moving average price is $29.55 and its 200-day moving average price is $28.02. The company has a market cap of $700.81 million, a P/E ratio of 125.11 and a beta of 0.92. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a 12 month low of $16.97 and a 12 month high of $35.84.

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

Analysts Set New Price Targets

A number of research analysts have commented on the company. Stephens reaffirmed an “overweight” rating and set a $41.00 price target on shares of Castle Biosciences in a research report on Thursday, January 2nd. BTIG Research upped their target price on Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a report on Monday, October 14th. Canaccord Genuity Group lifted their price target on shares of Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Robert W. Baird upped their price objective on shares of Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, Scotiabank lifted their target price on shares of Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $40.29.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CSTL. Point72 Asset Management L.P. boosted its stake in Castle Biosciences by 828.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 499,192 shares of the company’s stock worth $14,237,000 after purchasing an additional 445,415 shares in the last quarter. Marshall Wace LLP raised its holdings in Castle Biosciences by 116.5% in the second quarter. Marshall Wace LLP now owns 212,036 shares of the company’s stock worth $4,616,000 after buying an additional 114,104 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Castle Biosciences by 147.4% in 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 in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Castle Biosciences by 47.3% during the second quarter. Renaissance Technologies LLC now owns 301,500 shares of the company’s stock valued at $6,564,000 after buying an additional 96,800 shares during the last quarter. Finally, State Street Corp increased its position in shares of Castle Biosciences by 9.8% during the third quarter. State Street Corp now owns 680,001 shares of the company’s stock valued at $19,394,000 after acquiring an additional 60,924 shares in the last quarter. 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.