Insider Selling: Castle Biosciences (NASDAQ:CSTL) Insider Sells 17,310 Shares of Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Tobin Juvenal sold 17,310 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $29.31, for a total transaction of $507,356.10. Following the sale, the insider owned 80,725 shares of the company’s stock, valued at $2,366,049.75. This represents a 17.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Trading Up 2.5%

CSTL traded up $0.76 during trading on Tuesday, hitting $31.15. 627,364 shares of the stock traded hands, compared to its average volume of 403,923. The firm has a market capitalization of $944.78 million, a P/E ratio of -47.20 and a beta of 0.98. Castle Biosciences, Inc. has a 12-month low of $17.72 and a 12-month high of $44.28. 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 50-day moving average of $22.97 and a 200 day moving average of $26.37.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.34. The firm had revenue of $99.86 million for the quarter, compared to analysts’ expectations of $86.23 million. Castle Biosciences had a negative net margin of 5.43% and a negative return on equity of 4.15%. Equities research analysts anticipate that Castle Biosciences, Inc. will post -1.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on CSTL shares. KeyCorp set a $35.00 price objective on shares of Castle Biosciences in a report on Friday, May 29th. Canaccord Genuity Group lowered their target price on Castle Biosciences from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Wall Street Zen raised Castle Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday. Roth Capital initiated coverage on Castle Biosciences in a report on Wednesday, June 24th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Robert W. Baird set a $36.00 target price on shares of Castle Biosciences in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Castle Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Institutional Trading of Castle Biosciences

Several institutional investors have recently bought and sold shares of the company. Summit Global Investments purchased a new position in Castle Biosciences in the second quarter worth about $312,000. First Bank & Trust increased its position in shares of Castle Biosciences by 12.6% during the second quarter. First Bank & Trust now owns 18,591 shares of the company’s stock valued at $443,000 after acquiring an additional 2,087 shares in the last quarter. Empowered Funds LLC raised its holdings in Castle Biosciences by 8.4% in the 1st quarter. Empowered Funds LLC now owns 132,184 shares of the company’s stock worth $3,245,000 after acquiring an additional 10,264 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Castle Biosciences by 46.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 12,438 shares of the company’s stock worth $305,000 after acquiring an additional 3,951 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its position in Castle Biosciences by 387.3% in the 1st quarter. Quantinno Capital Management LP now owns 45,476 shares of the company’s stock valued at $1,116,000 after acquiring an additional 36,144 shares in the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

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.