Insider Selling: Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Sells $63,636.44 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 1,972 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $32.27, for a total value of $63,636.44. Following the completion of the sale, the insider now owns 91,664 shares of the company’s stock, valued at approximately $2,957,997.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Castle Biosciences Trading Down 1.3 %

Shares of Castle Biosciences stock opened at $32.64 on Friday. The firm has a market capitalization of $901.09 million, a price-to-earnings ratio of -28.38 and a beta of 1.03. Castle Biosciences, Inc. has a fifty-two week low of $12.23 and a fifty-two week high of $34.50. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.92 and a current ratio of 8.12. The stock has a 50 day moving average of $29.52 and a 200 day moving average of $24.57.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.47. Castle Biosciences had a negative return on equity of 0.77% and a negative net margin of 1.08%. The company had revenue of $87.00 million during the quarter, compared to analyst estimates of $69.95 million. During the same period in the prior year, the business posted ($0.70) earnings per share. As a group, research analysts predict that Castle Biosciences, Inc. will post -0.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CSTL shares. Stephens reissued an “overweight” rating and issued a $37.00 price objective on shares of Castle Biosciences in a report on Tuesday, August 6th. BTIG Research boosted their target price on shares of Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Robert W. Baird raised their price target on shares of Castle Biosciences from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Tuesday, August 6th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Castle Biosciences presently has a consensus rating of “Buy” and an average target price of $34.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CSTL. RiverPark Advisors LLC boosted its position in shares of Castle Biosciences by 362.2% during the first quarter. RiverPark Advisors LLC now owns 2,861 shares of the company’s stock worth $63,000 after buying an additional 2,242 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of Castle Biosciences by 70.3% during the first quarter. China Universal Asset Management Co. Ltd. now owns 5,297 shares of the company’s stock worth $117,000 after buying an additional 2,187 shares during the period. Denali Advisors LLC purchased a new position in shares of Castle Biosciences during the first quarter worth $186,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Castle Biosciences by 10.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock valued at $215,000 after acquiring an additional 952 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Castle Biosciences in the second quarter valued at $218,000. 92.60% of the stock is currently owned by hedge funds and other 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.