Insider Selling: Castle Biosciences (NASDAQ:CSTL) Insider Sells 9,050 Shares

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Tobin Juvenal sold 9,050 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $35.04, for a total value of $317,112.00. Following the transaction, the insider owned 66,914 shares of the company’s stock, valued at approximately $2,344,666.56. The trade was a 11.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Stock Up 0.5%

NASDAQ CSTL traded up $0.18 during trading on Thursday, hitting $34.26. The stock had a trading volume of 251,211 shares, compared to its average volume of 405,577. The company has a market capitalization of $1.05 billion, a PE ratio of -51.91 and a beta of 0.98. The company’s 50-day moving average price is $26.73 and its two-hundred day moving average price is $25.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.85 and a current ratio of 6.04. Castle Biosciences, Inc. has a 12 month low of $17.72 and a 12 month high of $44.28.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.34. The firm had revenue of $99.86 million during the quarter, compared to the consensus estimate of $86.23 million. Castle Biosciences had a negative return on equity of 4.15% and a negative net margin of 5.43%. As a group, sell-side analysts forecast that Castle Biosciences, Inc. will post -1.29 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CSTL. Robert W. Baird set a $36.00 target price on shares of Castle Biosciences in a research report on Friday, July 31st. Zacks Research downgraded shares of Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Roth Capital started coverage on Castle Biosciences in a report on Wednesday, June 24th. They issued a “buy” rating and a $40.00 price objective for the company. Wall Street Zen raised Castle Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings upgraded Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Institutional Trading of Castle Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Castle Biosciences in the 2nd quarter valued at about $78,513,000. RTW Investments LP bought a new position in Castle Biosciences during the fourth quarter worth about $82,283,000. California State Teachers Retirement System grew its holdings in Castle Biosciences by 3,176.9% during the second quarter. California State Teachers Retirement System now owns 901,578 shares of the company’s stock worth $21,503,000 after purchasing an additional 874,065 shares during the period. Summit Partners Public Asset Management LLC increased its position in Castle Biosciences by 164.7% during 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 buying an additional 658,725 shares during the last quarter. Finally, Jefferies Financial Group Inc. acquired a new position in Castle Biosciences during the second quarter worth approximately $15,440,000. 92.60% of the stock is owned by institutional investors.

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.