Insider Selling: Castle Biosciences (NASDAQ:CSTL) Insider Sells 3,622 Shares of Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek Maetzold sold 3,622 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $25.10, for a total value of $90,912.20. Following the completion of the sale, the insider owned 2,502 shares in the company, valued at approximately $62,800.20. The trade was a 59.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Trading Down 5.6%

NASDAQ:CSTL traded down $1.41 during midday trading on Thursday, hitting $23.69. The stock had a trading volume of 259,204 shares, compared to its average volume of 378,835. Castle Biosciences, Inc. has a one year low of $14.59 and a one year high of $44.28. The company has a market capitalization of $717.71 million, a price-to-earnings ratio of -27.87 and a beta of 1.18. The stock has a 50-day moving average of $26.80 and a 200 day moving average of $32.02. The company has a quick ratio of 5.11, a current ratio of 5.26 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.15. Castle Biosciences had a negative return on equity of 0.89% and a negative net margin of 7.02%.The company had revenue of $81.88 million for the quarter, compared to analysts’ expectations of $81.19 million. As a group, sell-side analysts forecast that Castle Biosciences, Inc. will post -1.4 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CSTL shares. Zacks Research cut Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Morgan Stanley raised Castle Biosciences to a “buy” rating in a research note on Monday, March 2nd. Robert W. Baird increased their price objective on Castle Biosciences from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. Weiss Ratings reissued a “sell (d)” rating on shares of Castle Biosciences in a research note on Monday, December 29th. Finally, Lake Street Capital increased their price objective on Castle Biosciences from $35.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.14.

Institutional Trading of Castle Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AIGH Capital Management LLC bought a new stake in Castle Biosciences during the 3rd quarter valued at $16,105,000. Campbell & CO Investment Adviser LLC bought a new stake in Castle Biosciences during the 3rd quarter valued at $615,000. Portolan Capital Management LLC boosted its position in Castle Biosciences by 1.7% during the 3rd quarter. Portolan Capital Management LLC now owns 1,515,111 shares of the company’s stock valued at $34,499,000 after acquiring an additional 25,539 shares in the last quarter. SG Americas Securities LLC bought a new stake in Castle Biosciences during the 3rd quarter valued at $297,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Castle Biosciences during the 3rd quarter valued at $667,000. Institutional investors own 92.60% of the company’s stock.

About Castle Biosciences

Castle Biosciences, Inc is a molecular diagnostics company specializing in the development and commercialization of prognostic and diagnostic tests for patients with dermatologic conditions. The company’s proprietary portfolio of genomic assays is designed to improve risk assessment and guide clinical decision-making for individuals with skin cancers and other skin-related diseases. By combining genomic data with advanced statistical algorithms, Castle Biosciences seeks to provide actionable insights that help physicians tailor treatment plans and monitoring strategies.

The company’s flagship test, DecisionDx-Melanoma, evaluates the probability of metastasis in patients diagnosed with cutaneous melanoma, supporting more personalized surveillance and therapeutic approaches.