Insider Selling: Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Sells 2,130 Shares of Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 2,130 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $19.52, for a total value of $41,577.60. Following the completion of the transaction, the insider now directly owns 78,335 shares of the company’s stock, valued at $1,529,099.20. This represents a 2.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Castle Biosciences Trading Up 3.2 %

Shares of CSTL stock traded up $0.61 during mid-day trading on Tuesday, hitting $19.54. The company’s stock had a trading volume of 734,313 shares, compared to its average volume of 470,745. Castle Biosciences, Inc. has a 52 week low of $16.97 and a 52 week high of $35.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78. The company’s fifty day simple moving average is $26.46 and its 200-day simple moving average is $28.90. The company has a market cap of $547.26 million, a PE ratio of 97.70 and a beta of 0.98.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CSTL shares. Robert W. Baird increased their price target on Castle Biosciences from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Stephens reiterated an “overweight” rating and issued a $41.00 target price on shares of Castle Biosciences in a report on Thursday, January 2nd. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $40.00.

Institutional Investors Weigh In On Castle Biosciences

A number of hedge funds have recently added to or reduced their stakes in CSTL. US Bancorp DE boosted its holdings in shares of Castle Biosciences by 1,889.2% during the 3rd quarter. US Bancorp DE now owns 4,615 shares of the company’s stock worth $132,000 after buying an additional 4,383 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Castle Biosciences by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company’s stock worth $43,879,000 after purchasing an additional 40,377 shares in the last quarter. Assetmark Inc. grew its stake in Castle Biosciences by 16.8% in the third quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock valued at $149,000 after acquiring an additional 748 shares during the period. Lisanti Capital Growth LLC increased its stake in Castle Biosciences by 60.2% during the 3rd quarter. Lisanti Capital Growth LLC now owns 154,710 shares of the company’s stock valued at $4,412,000 after purchasing an additional 58,160 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Castle Biosciences during the 3rd quarter valued at about $1,478,000. 92.60% of the stock is currently owned by institutional investors.

About Castle Biosciences

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.