Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Derek J. Maetzold Sells 1,972 Shares of Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 1,972 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $34.15, for a total transaction of $67,343.80. Following the completion of the sale, the insider now directly owns 87,720 shares of the company’s stock, valued at approximately $2,995,638. This represents a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Castle Biosciences Trading Down 7.3 %

Castle Biosciences stock traded down $2.25 during trading hours on Friday, reaching $28.58. 177,806 shares of the company’s stock were exchanged, compared to its average volume of 325,046. The firm has a market capitalization of $800.53 million, a PE ratio of 142.91 and a beta of 0.99. Castle Biosciences, Inc. has a twelve month low of $16.97 and a twelve month high of $35.84. The firm’s 50 day simple moving average is $31.16 and its 200 day simple moving average is $26.21. 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 (NASDAQ:CSTL) last released its quarterly earnings data on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.14. The firm 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 quarter in the prior year, the company posted ($0.26) earnings per share. Research analysts predict that Castle Biosciences, Inc. will post -0.08 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Stephens reissued an “overweight” rating and set a $37.00 price objective on shares of Castle Biosciences in a research note on Tuesday, August 6th. Lake Street Capital increased their target price on shares of Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group boosted their price target on Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Robert W. Baird boosted their price target on Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, BTIG Research increased 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. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $37.88.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CSTL. Quest Partners LLC raised its holdings in 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 purchasing an additional 1,522 shares in the last quarter. US Bancorp DE boosted its position in shares of Castle Biosciences by 1,889.2% in the third quarter. US Bancorp DE now owns 4,615 shares of the company’s stock worth $132,000 after purchasing an additional 4,383 shares during the period. Assetmark Inc. raised its position in shares of Castle Biosciences by 16.8% during the third quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock valued at $149,000 after buying an additional 748 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Castle Biosciences by 64.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock valued at $152,000 after acquiring an additional 2,093 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Castle Biosciences by 10.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock valued at $215,000 after purchasing an additional 952 shares during the last quarter. 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.