Insider Selling: Castle Biosciences (NASDAQ:CSTL) COO Sells $149,300.35 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) COO Kristen Oelschlager sold 4,153 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $35.95, for a total value of $149,300.35. Following the completion of the transaction, the chief operating officer directly owned 13,356 shares of the company’s stock, valued at approximately $480,148.20. This trade represents a 23.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Stock Down 1.1%

Shares of CSTL opened at $33.00 on Thursday. The business’s 50 day moving average is $33.09 and its 200 day moving average is $26.46. 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 has a market capitalization of $1.01 billion, a PE ratio of -50.00 and a beta of 0.94.

Castle Biosciences (NASDAQ:CSTL) last announced 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. 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 analyst estimates of $86.23 million. Research analysts expect that Castle Biosciences, Inc. will post -1.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CSTL has been the topic of several research reports. Wall Street Zen upgraded shares of Castle Biosciences from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Weiss Ratings raised shares of Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. Robert W. Baird set a $36.00 target price on shares of Castle Biosciences in a report on Friday, July 31st. BTIG Research raised their price objective on Castle Biosciences from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, Roth Capital assumed 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.00.

Institutional Trading of Castle Biosciences

A number of institutional investors have recently made changes to their positions in the company. Advisors Capital Management LLC purchased a new position in shares of Castle Biosciences during the second quarter worth $5,681,000. BlackRock Inc. acquired a new position in Castle Biosciences during the 2nd quarter worth about $78,513,000. Bank of New York Mellon Corp purchased a new position in Castle Biosciences during the 2nd quarter valued at about $2,338,000. Empowered Funds LLC purchased a new position in Castle Biosciences during the 2nd quarter valued at about $3,395,000. Finally, Quantinno Capital Management LP grew 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 institutional investors and hedge funds.

Castle Biosciences Company Profile

Castle Biosciences, Inc is a molecular diagnostics company that develops and commercializes tests designed to provide personalized information for patients with cancer and other serious diseases. Its products analyze biological characteristics in tissue samples to help physicians assess disease risk, guide treatment decisions and support patient management.

The company’s portfolio includes diagnostic tests for skin cancers, such as DecisionDx-Melanoma for assessing metastatic risk in patients with cutaneous melanoma and DecisionDx-SCC for evaluating metastatic risk in certain cases of cutaneous squamous cell carcinoma.