Tobin Juvenal Sells 3,294 Shares of Castle Biosciences (NASDAQ:CSTL) Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Tobin Juvenal sold 3,294 shares of Castle Biosciences stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $35.14, for a total value of $115,751.16. Following the completion of the sale, the insider owned 58,584 shares in the company, valued at approximately $2,058,641.76. The trade was a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Price Performance

Shares of Castle Biosciences stock opened at $36.78 on Friday. The business has a 50 day simple moving average of $30.04 and a two-hundred day simple moving average of $25.62. Castle Biosciences, Inc. has a 12 month low of $17.72 and a 12 month high of $44.28. The stock has a market capitalization of $1.12 billion, a P/E ratio of -55.73 and a beta of 0.99. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.04 and a quick ratio of 5.85.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, analysts predict that Castle Biosciences, Inc. will post -1.29 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CSTL shares. Roth Capital began coverage on shares of Castle Biosciences in a research note on Wednesday, June 24th. They issued a “buy” rating and a $40.00 price target on the stock. Wall Street Zen raised shares of Castle Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Robert W. Baird set a $36.00 price objective on shares of Castle Biosciences in a report on Friday, July 31st. Zacks Research lowered shares of Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, BTIG Research boosted their target price on Castle Biosciences from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Assetmark Inc. increased its stake in Castle Biosciences by 9.3% during the 1st quarter. Assetmark Inc. now owns 5,779 shares of the company’s stock worth $142,000 after buying an additional 492 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in Castle Biosciences by 140.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,750 shares of the company’s stock valued at $68,000 after buying an additional 1,022 shares during the period. Global Retirement Partners LLC purchased a new position in Castle Biosciences in the 2nd quarter valued at approximately $26,000. Summit Global Investments grew its stake in shares of Castle Biosciences by 10.9% in the first quarter. Summit Global Investments now owns 13,718 shares of the company’s stock worth $337,000 after acquiring an additional 1,353 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Castle Biosciences by 0.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 160,663 shares of the company’s stock worth $3,944,000 after acquiring an additional 1,492 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

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.