Castle Biosciences (NASDAQ:CSTL) Insider Sells 5,543 Shares of Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Tobin Juvenal sold 5,543 shares of the company’s stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $35.50, for a total transaction of $196,776.50. Following the completion of the transaction, the insider owned 53,041 shares in the company, valued at approximately $1,882,955.50. The trade was a 9.46% decrease in their position. The sale was disclosed in a filing 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 Stock Down 0.8%

NASDAQ:CSTL traded down $0.27 on Thursday, reaching $35.26. 522,288 shares of the stock traded hands, compared to its average volume of 398,525. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -53.42 and a beta of 0.99. The company has a current ratio of 6.04, a quick ratio of 5.85 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a 12 month low of $17.72 and a 12 month high of $44.28. The company’s fifty day simple moving average is $32.08 and its 200 day simple moving average is $26.14.

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

Institutional Investors Weigh In On Castle Biosciences

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

Analysts Set New Price Targets

Several research firms recently issued reports on CSTL. Weiss Ratings raised Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, July 31st. Robert W. Baird set a $36.00 target price on Castle Biosciences in a report on Friday, July 31st. BTIG Research boosted their price target on Castle Biosciences from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Roth Capital started coverage on Castle Biosciences in a report on Wednesday, June 24th. They set a “buy” rating and a $40.00 price target on the stock. Finally, Wall Street Zen raised Castle Biosciences from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Castle Biosciences presently has an average rating of “Moderate Buy” and an average 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.