Castle Biosciences (NASDAQ:CSTL) COO Sells $411,624.42 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) COO Kristen Oelschlager sold 12,218 shares of Castle Biosciences stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $33.69, for a total transaction of $411,624.42. Following the sale, the chief operating officer directly owned 85,033 shares in the company, valued at $2,864,761.77. This trade represents a 12.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Castle Biosciences Price Performance

NASDAQ:CSTL traded down $0.92 on Wednesday, hitting $34.08. The company had a trading volume of 456,261 shares, compared to its average volume of 406,528. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -51.64 and a beta of 0.98. The company has a current ratio of 6.04, a quick ratio of 5.85 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average of $26.45 and a two-hundred day moving average of $25.39. Castle Biosciences, Inc. has a 52 week low of $17.72 and a 52 week high of $44.28.

Castle Biosciences (NASDAQ:CSTL) last issued its earnings results on Thursday, July 30th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.34. The firm had revenue of $99.86 million for the quarter, compared to analyst estimates of $86.23 million. Castle Biosciences had a negative net margin of 5.43% and a negative return on equity of 4.15%. On average, research analysts anticipate that Castle Biosciences, Inc. will post -1.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. BTIG Research boosted their price objective on Castle Biosciences from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Weiss Ratings upgraded Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 31st. Zacks Research downgraded Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. KeyCorp set a $35.00 price objective on shares of Castle Biosciences in a report on Friday, May 29th. Finally, Roth Capital started coverage on shares of Castle Biosciences in a report on Wednesday, June 24th. They issued a “buy” rating and a $40.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Capital Management LLC acquired a new position in shares of Castle Biosciences in the 2nd quarter valued at about $5,681,000. Summit Partners Public Asset Management LLC increased its holdings in Castle Biosciences by 164.7% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company’s stock worth $41,184,000 after purchasing an additional 658,725 shares in the last quarter. SummitTX Capital L.P. increased its holdings in Castle Biosciences by 285.0% in the first quarter. SummitTX Capital L.P. now owns 67,033 shares of the company’s stock worth $1,646,000 after purchasing an additional 49,623 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Castle Biosciences by 387.3% in the first quarter. Quantinno Capital Management LP now owns 45,476 shares of the company’s stock valued at $1,116,000 after buying an additional 36,144 shares during the period. Finally, AIGH Capital Management LLC bought a new position in shares of Castle Biosciences during the 2nd quarter worth approximately $13,001,000. Institutional investors and hedge funds 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.