Insider Selling: Castle Biosciences (NASDAQ:CSTL) Insider Sells $239,570.76 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Tobin Juvenal sold 6,578 shares of Castle Biosciences stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $36.42, for a total transaction of $239,570.76. Following the sale, the insider owned 38,853 shares of the company’s stock, valued at approximately $1,415,026.26. This represents a 14.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Trading Down 3.5%

Shares of Castle Biosciences stock traded down $1.35 during trading on Friday, hitting $37.16. 334,259 shares of the company were exchanged, compared to its average volume of 392,810. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.04 and a quick ratio of 5.85. The firm has a market capitalization of $1.14 billion, a P/E ratio of -56.30 and a beta of 0.94. The firm’s fifty day moving average price is $34.13 and its 200 day moving average price is $28.69. Castle Biosciences, Inc. has a 1-year low of $17.72 and a 1-year high of $44.28.

Castle Biosciences (NASDAQ:CSTL) last posted its earnings results on Thursday, July 30th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $86.23 million. As a group, sell-side analysts expect that Castle Biosciences, Inc. will post -1.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Castle Biosciences

Large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Castle Biosciences during the second quarter worth $78,513,000. Jefferies Financial Group Inc. acquired a new position in shares of Castle Biosciences in the second quarter valued at about $15,440,000. AIGH Capital Management LLC acquired a new position in shares of Castle Biosciences in the second quarter valued at about $13,001,000. Renaissance Technologies LLC increased its position in Castle Biosciences by 8.1% during the first quarter. Renaissance Technologies LLC now owns 532,800 shares of the company’s stock worth $13,080,000 after acquiring an additional 39,700 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Castle Biosciences during the second quarter worth about $7,912,000. Institutional investors own 92.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CSTL shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Castle Biosciences in a report on Thursday. BTIG Research raised their target price on shares of Castle Biosciences from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Wall Street Zen lowered shares of Castle Biosciences from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. Mizuho initiated coverage on shares of Castle Biosciences in a research report on Thursday. They set an “outperform” rating and a $60.00 price target on the stock. Finally, Robert W. Baird set a $36.00 price objective on Castle Biosciences in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $44.25.

About Castle Biosciences

Castle Biosciences, Inc is a molecular diagnostics company that develops and commercializes tests designed to help physicians diagnose cancer, assess disease risk and guide treatment decisions. The company focuses on conditions in which additional biological information can complement traditional pathology and clinical assessment.

Its portfolio includes DecisionDx-Melanoma, which helps evaluate the risk of metastatic recurrence in patients with cutaneous melanoma; DecisionDx-SCC, which assesses metastatic risk in cutaneous squamous cell carcinoma; and DecisionDx-UM, a test for determining metastatic risk in uveal melanoma.