Castle Biosciences (NASDAQ:CSTL) Stock Price Down 7% – Should You Sell?

Castle Biosciences, Inc. (NASDAQ:CSTL) shares traded down 7% during trading on Thursday . The stock traded as low as $31.28 and last traded at $31.32. 226,852 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 385,790 shares. The stock had previously closed at $33.67.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Zacks Research upgraded Castle Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Robert W. Baird lifted their price objective on shares of Castle Biosciences from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Guggenheim increased their target price on shares of Castle Biosciences from $43.00 to $47.00 and gave the company a “buy” rating in a research report on Monday, January 26th. KeyCorp restated an “overweight” rating and issued a $50.00 target price on shares of Castle Biosciences in a research note on Thursday, January 29th. Finally, Lake Street Capital upped their price target on Castle Biosciences from $35.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.14.

Castle Biosciences Trading Down 6.5%

The stock’s fifty day simple moving average is $38.40 and its 200-day simple moving average is $30.66. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.47 and a quick ratio of 6.31. The firm has a market cap of $918.90 million, a PE ratio of -69.98 and a beta of 1.06.

Insider Transactions at Castle Biosciences

In other news, insider Derek J. Maetzold sold 817 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $37.99, for a total value of $31,037.83. Following the transaction, the insider directly owned 83,698 shares of the company’s stock, valued at approximately $3,179,687.02. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kristen M. Oelschlager sold 14,888 shares of Castle Biosciences stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $39.31, for a total value of $585,247.28. Following the sale, the chief operating officer directly owned 12,323 shares of the company’s stock, valued at $484,417.13. This trade represents a 54.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 34,732 shares of company stock valued at $1,372,743. 6.50% of the stock is currently owned by insiders.

Institutional Trading of Castle Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in CSTL. Federated Hermes Inc. acquired a new position in Castle Biosciences during the fourth quarter valued at $26,000. Kemnay Advisory Services Inc. purchased a new position in shares of Castle Biosciences during the 4th quarter valued at about $35,000. Farther Finance Advisors LLC lifted its holdings in shares of Castle Biosciences by 139,100.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,392 shares of the company’s stock valued at $32,000 after buying an additional 1,391 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Castle Biosciences by 26.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,418 shares of the company’s stock valued at $55,000 after buying an additional 297 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Castle Biosciences in the third quarter worth about $35,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

About Castle Biosciences

Castle Biosciences, Inc is a molecular diagnostics company specializing in the development and commercialization of prognostic and diagnostic tests for patients with dermatologic conditions. The company’s proprietary portfolio of genomic assays is designed to improve risk assessment and guide clinical decision-making for individuals with skin cancers and other skin-related diseases. By combining genomic data with advanced statistical algorithms, Castle Biosciences seeks to provide actionable insights that help physicians tailor treatment plans and monitoring strategies.

The company’s flagship test, DecisionDx-Melanoma, evaluates the probability of metastasis in patients diagnosed with cutaneous melanoma, supporting more personalized surveillance and therapeutic approaches.