Insider Selling: Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Sells $46,519.65 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 2,295 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $20.27, for a total value of $46,519.65. Following the completion of the transaction, the insider now owns 69,806 shares of the company’s stock, valued at $1,414,967.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Castle Biosciences Stock Down 3.9 %

Shares of NASDAQ CSTL opened at $20.27 on Monday. Castle Biosciences, Inc. has a 52-week low of $9.26 and a 52-week high of $26.70. The firm has a fifty day moving average of $21.95 and a 200-day moving average of $19.39. The stock has a market capitalization of $556.41 million, a PE ratio of -9.38 and a beta of 0.90.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.74. Castle Biosciences had a negative net margin of 26.15% and a negative return on equity of 14.92%. The firm had revenue of $66.12 million during the quarter, compared to analysts’ expectations of $51.32 million. Equities research analysts expect that Castle Biosciences, Inc. will post -3.01 EPS for the current fiscal year.

Institutional Trading of Castle Biosciences

Institutional investors have recently added to or reduced their stakes in the business. Rice Hall James & Associates LLC lifted its holdings in Castle Biosciences by 3.7% in the 1st quarter. Rice Hall James & Associates LLC now owns 26,151 shares of the company’s stock worth $1,173,000 after buying an additional 938 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Castle Biosciences by 3.2% in the 1st quarter. JPMorgan Chase & Co. now owns 24,324 shares of the company’s stock worth $1,091,000 after buying an additional 754 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Castle Biosciences by 16.8% in the 1st quarter. Bank of New York Mellon Corp now owns 101,886 shares of the company’s stock worth $4,570,000 after buying an additional 14,658 shares in the last quarter. US Bancorp DE lifted its holdings in Castle Biosciences by 28.9% in the 1st quarter. US Bancorp DE now owns 16,468 shares of the company’s stock worth $739,000 after buying an additional 3,694 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in Castle Biosciences by 16.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,966 shares of the company’s stock worth $582,000 after buying an additional 1,801 shares in the last quarter. 85.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CSTL has been the subject of several analyst reports. Guggenheim assumed coverage on Castle Biosciences in a report on Thursday, December 14th. They issued a “buy” rating and a $25.00 price target for the company. KeyCorp boosted their price objective on shares of Castle Biosciences from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Finally, Scotiabank boosted their price objective on shares of Castle Biosciences from $33.00 to $37.00 and gave the company a “sector outperform” rating in a research note on Friday, March 1st.

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.