Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Derek J. Maetzold Sells 22,639 Shares of Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 22,639 shares of Castle Biosciences stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $20.12, for a total transaction of $455,496.68. Following the completion of the transaction, the insider now owns 80,465 shares of the company’s stock, valued at $1,618,955.80. This trade represents a 21.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Castle Biosciences Stock Performance

Shares of NASDAQ:CSTL opened at $19.54 on Wednesday. The company’s 50 day simple moving average is $26.31 and its 200 day simple moving average is $28.83. The stock has a market capitalization of $547.26 million, a price-to-earnings ratio of 97.70 and a beta of 0.98. Castle Biosciences, Inc. has a 1 year low of $16.97 and a 1 year high of $35.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64.

Hedge Funds Weigh In On Castle Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp acquired a new position in shares of Castle Biosciences during the fourth quarter valued at about $560,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Castle Biosciences by 18.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 66,018 shares of the company’s stock worth $1,759,000 after purchasing an additional 10,486 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Castle Biosciences during the 4th quarter valued at $306,000. Point72 Asset Management L.P. grew its holdings in shares of Castle Biosciences by 9.6% during the 4th quarter. Point72 Asset Management L.P. now owns 547,104 shares of the company’s stock valued at $14,580,000 after purchasing an additional 47,912 shares during the last quarter. Finally, ProShare Advisors LLC bought a new position in shares of Castle Biosciences during the 4th quarter valued at $230,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Wall Street Analyst Weigh In

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

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.