Derek J. Maetzold Sells 1,972 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 1,972 shares of Castle Biosciences stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $34.15, for a total transaction of $67,343.80. Following the sale, the insider now owns 87,720 shares of the company’s stock, valued at approximately $2,995,638. This represents a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Castle Biosciences Stock Performance

NASDAQ:CSTL opened at $28.10 on Friday. The firm has a market capitalization of $787.08 million, a PE ratio of 140.51 and a beta of 0.99. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64. The business’s fifty day moving average price is $31.14 and its 200 day moving average price is $26.25. Castle Biosciences, Inc. has a 12 month low of $16.97 and a 12 month high of $35.84.

Castle Biosciences (NASDAQ:CSTL) last issued its earnings results on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.14. The business had revenue of $85.78 million for the quarter, compared to analyst estimates of $78.55 million. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. During the same quarter last year, the company earned ($0.26) EPS. On average, sell-side analysts anticipate that Castle Biosciences, Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CSTL. Quest Partners LLC increased its position in shares of Castle Biosciences by 54.4% during the third quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock worth $123,000 after purchasing an additional 1,522 shares in the last quarter. US Bancorp DE increased its holdings in shares of Castle Biosciences by 1,889.2% in the 3rd quarter. US Bancorp DE now owns 4,615 shares of the company’s stock valued at $132,000 after acquiring an additional 4,383 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Castle Biosciences in the third quarter valued at about $140,000. Assetmark Inc. boosted its stake in shares of Castle Biosciences by 16.8% during the third quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock worth $149,000 after buying an additional 748 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of Castle Biosciences by 64.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock worth $152,000 after buying an additional 2,093 shares during the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CSTL shares. BTIG Research lifted their price objective on Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Scotiabank increased their price target on shares of Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 6th. Robert W. Baird lifted their price objective on shares of Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Lake Street Capital increased their target price on shares of Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Stephens restated an “overweight” rating and issued a $37.00 price target on shares of Castle Biosciences in a research note on Tuesday, August 6th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $37.88.

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.