Insider Selling: Castle Biosciences (NASDAQ:CSTL) Insider Sells $303,131.40 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek Maetzold sold 8,580 shares of the firm’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $35.33, for a total value of $303,131.40. Following the sale, the insider owned 21,479 shares of the company’s stock, valued at $758,853.07. This represents a 28.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Stock Up 0.1%

Shares of NASDAQ CSTL traded up $0.03 during midday trading on Wednesday, reaching $34.88. 348,274 shares of the company’s stock were exchanged, compared to its average volume of 397,700. 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 52-week low of $17.72 and a 52-week high of $44.28. The business’s fifty day moving average price is $30.74 and its two-hundred day moving average price is $25.77. The stock has a market capitalization of $1.07 billion, a PE ratio of -52.85 and a beta of 0.99.

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

Hedge Funds Weigh In On Castle Biosciences

Several large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC bought a new stake in shares of Castle Biosciences during the second quarter valued at approximately $529,000. Engineers Gate Manager LP grew its holdings in Castle Biosciences by 61.5% in the 2nd quarter. Engineers Gate Manager LP now owns 29,480 shares of the company’s stock worth $703,000 after buying an additional 11,224 shares in the last quarter. Empowered Funds LLC bought a new position in Castle Biosciences in the 2nd quarter worth approximately $3,395,000. Jefferies Financial Group Inc. bought a new position in Castle Biosciences in the 2nd quarter worth approximately $15,440,000. Finally, Bank of America Corp DE acquired a new stake in Castle Biosciences in the 2nd quarter valued at approximately $2,355,000. 92.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CSTL has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Castle Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. 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 target on the stock. Zacks Research downgraded shares of Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Robert W. Baird set a $36.00 price objective on shares of Castle Biosciences in a report on Friday, July 31st. Finally, KeyCorp set a $35.00 target price on shares of Castle Biosciences in a research report on Friday, May 29th. One research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

About Castle Biosciences

Castle Biosciences, Inc is a molecular diagnostics company that develops and commercializes tests designed to help physicians make more informed decisions about cancer diagnosis and treatment. Its products use genomic and molecular information to assess disease characteristics, patient risk and likely outcomes.

The company’s portfolio includes DecisionDx-Melanoma, which helps assess the risk of metastasis in patients with cutaneous melanoma; DecisionDx-SCC, which evaluates metastatic risk in certain patients with cutaneous squamous cell carcinoma; and MyPath Melanoma, which assists in distinguishing benign from malignant melanocytic lesions.