Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Sells $80,418.30 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 2,715 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $29.62, for a total transaction of $80,418.30. Following the transaction, the insider now owns 82,047 shares in the company, valued at approximately $2,430,232.14. This represents a 3.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Castle Biosciences Price Performance

Shares of Castle Biosciences stock opened at $32.72 on Friday. Castle Biosciences, Inc. has a 1-year low of $16.97 and a 1-year high of $35.84. The firm has a fifty day simple moving average of $29.87 and a 200-day simple moving average of $27.81. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $916.39 million, a price-to-earnings ratio of 163.61 and a beta of 0.92.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.14. The company had revenue of $85.78 million during the quarter, compared to analysts’ expectations of $78.55 million. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. During the same period in the prior year, the company earned ($0.26) earnings per share. On average, sell-side analysts expect that Castle Biosciences, Inc. will post 0.34 earnings per share for the current year.

Institutional Trading of Castle Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. boosted its position in shares of Castle Biosciences by 828.3% in the third quarter. Point72 Asset Management L.P. now owns 499,192 shares of the company’s stock valued at $14,237,000 after acquiring an additional 445,415 shares during the period. Marshall Wace LLP boosted its holdings in Castle Biosciences by 116.5% in the 2nd quarter. Marshall Wace LLP now owns 212,036 shares of the company’s stock valued at $4,616,000 after purchasing an additional 114,104 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Castle Biosciences by 147.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,458 shares of the company’s stock worth $4,719,000 after purchasing an additional 98,571 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Castle Biosciences by 47.3% during the 2nd quarter. Renaissance Technologies LLC now owns 301,500 shares of the company’s stock worth $6,564,000 after purchasing an additional 96,800 shares during the period. Finally, Acadian Asset Management LLC raised its position in shares of Castle Biosciences by 33.0% during the second quarter. Acadian Asset Management LLC now owns 280,497 shares of the company’s stock valued at $6,101,000 after buying an additional 69,673 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Analyst Upgrades and Downgrades

CSTL has been the topic of a number of recent research reports. BTIG Research boosted their target price on Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Stephens reaffirmed an “overweight” rating and set a $41.00 price objective on shares of Castle Biosciences in a research report on Thursday, January 2nd. Scotiabank boosted their target price on shares of Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 6th. KeyCorp increased their price target on shares of Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Canaccord Genuity Group upped their price objective on shares of Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Castle Biosciences has an average rating of “Buy” and an average target price of $40.29.

Castle Biosciences Company Profile

Castle Biosciences, Inc, a molecular diagnostics company, provides testing solutions for the diagnosis and treatment of dermatologic cancers, Barrett's esophagus, uveal melanoma, and mental health conditions. It offers DecisionDx-Melanoma, a risk stratification gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma; DecisionDx-SCC, a proprietary risk stratification GEP test for patients with cutaneous squamous cell carcinoma; MyPath Melanoma, a test used for patients with difficult-to-diagnose melanocytic lesions; and TissueCypher, a spatial omics test to predict future development of high-grade dysplasia and/or esophageal cancer in patients with non-dysplastic, indefinite dysplasia, or low-grade dysplasia Barrett's esophagus.