Insider Selling: Castle Biosciences (NASDAQ:CSTL) Insider Sells $305,190.60 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek Maetzold sold 8,580 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $35.57, for a total value of $305,190.60. Following the completion of the sale, the insider owned 21,064 shares of the company’s stock, valued at $749,246.48. This represents a 28.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Stock Performance

CSTL traded down $0.36 during trading on Wednesday, reaching $33.00. 351,523 shares of the company’s stock were exchanged, compared to its average volume of 398,293. The company has a quick ratio of 5.85, a current ratio of 6.04 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average price of $32.92 and a 200 day moving average price of $26.41. Castle Biosciences, Inc. has a fifty-two week low of $17.72 and a fifty-two week high of $44.28. The company has a market capitalization of $1.01 billion, a P/E ratio of -50.00 and a beta of 0.94.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.34. The firm had revenue of $99.86 million during 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%. As a group, analysts predict that Castle Biosciences, Inc. will post -1.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on CSTL shares. Weiss Ratings raised Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. Roth Capital began coverage on Castle Biosciences in a research note on Wednesday, June 24th. They set a “buy” rating and a $40.00 price objective for the company. BTIG Research lifted their price objective on Castle Biosciences from $40.00 to $44.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Wall Street Zen upgraded shares of Castle Biosciences from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Finally, Robert W. Baird set a $36.00 target price on shares of Castle Biosciences in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in Castle Biosciences during the 2nd quarter worth about $78,513,000. Summit Partners Public Asset Management LLC lifted its position in shares of Castle Biosciences by 164.7% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company’s stock worth $41,184,000 after purchasing an additional 658,725 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Castle Biosciences during the second quarter worth approximately $15,440,000. AIGH Capital Management LLC bought a new stake in shares of Castle Biosciences during the second quarter valued at approximately $13,001,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Castle Biosciences in the second quarter valued at approximately $7,912,000. Institutional investors own 92.60% of the company’s stock.

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.