Castle Biosciences (NASDAQ:CSTL) Insider Sells $137,640.10 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek Maetzold sold 6,214 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $22.15, for a total value of $137,640.10. Following the transaction, the insider directly owned 21,479 shares of the company’s stock, valued at approximately $475,759.85. This trade represents a 22.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Stock Down 4.0%

CSTL stock traded down $0.79 on Monday, reaching $19.04. 485,721 shares of the company traded hands, compared to its average volume of 397,280. Castle Biosciences, Inc. has a one year low of $14.59 and a one year high of $44.28. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 6.53. The company has a market cap of $577.48 million, a P/E ratio of -43.27 and a beta of 1.11. The firm has a fifty day simple moving average of $25.41 and a 200-day simple moving average of $32.15.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.49) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.49). Castle Biosciences had a negative return on equity of 2.77% and a negative net margin of 3.78%.The company had revenue of $84.23 million during the quarter, compared to analyst estimates of $79.23 million. Research analysts anticipate that Castle Biosciences, Inc. will post -1.4 earnings per share for the current year.

Hedge Funds Weigh In On Castle Biosciences

Large investors have recently made changes to their positions in the business. AIGH Capital Management LLC purchased a new position in shares of Castle Biosciences in the third quarter valued at about $16,105,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Castle Biosciences in the third quarter valued at about $615,000. Portolan Capital Management LLC lifted its position in shares of Castle Biosciences by 1.7% in the third quarter. Portolan Capital Management LLC now owns 1,515,111 shares of the company’s stock valued at $34,499,000 after acquiring an additional 25,539 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Castle Biosciences in the third quarter valued at about $297,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Castle Biosciences in the third quarter valued at about $667,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CSTL has been the subject of several recent research reports. Morgan Stanley raised Castle Biosciences to a “buy” rating in a report on Monday, March 2nd. Zacks Research raised Castle Biosciences from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Guggenheim boosted their price target on Castle Biosciences from $43.00 to $47.00 and gave the company a “buy” rating in a report on Monday, January 26th. Robert W. Baird cut their price target on Castle Biosciences from $44.00 to $43.00 and set an “outperform” rating for the company in a report on Thursday. Finally, KeyCorp reissued an “overweight” rating and set a $50.00 price target on shares of Castle Biosciences in a report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.00.

Castle Biosciences Company Profile

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.