Insider Selling: Castle Biosciences (NASDAQ:CSTL) COO Sells 8,587 Shares

Castle Biosciences, Inc. (NASDAQ:CSTL) COO Kristen Oelschlager sold 8,587 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $20.71, for a total value of $177,836.77. Following the transaction, the chief operating officer owned 30,460 shares in the company, valued at $630,826.60. The trade was a 21.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Trading Up 4.3%

Shares of CSTL stock traded up $0.87 during trading hours on Thursday, hitting $21.12. 720,100 shares of the company were exchanged, compared to its average volume of 397,471. The firm has a market cap of $640.57 million, a P/E ratio of -48.00 and a beta of 1.04. Castle Biosciences, Inc. has a fifty-two week low of $14.59 and a fifty-two week high of $44.28. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.53 and a current ratio of 6.75. The company has a 50 day simple moving average of $21.90 and a two-hundred day simple moving average of $29.91.

Castle Biosciences (NASDAQ:CSTL) last released its earnings results on Wednesday, May 6th. The company reported ($0.49) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.49). The company had revenue of $84.23 million for the quarter, compared to the consensus estimate of $79.23 million. Castle Biosciences had a negative net margin of 3.78% and a negative return on equity of 2.77%. Equities analysts anticipate that Castle Biosciences, Inc. will post -1.4 EPS for the current year.

Analyst Upgrades and Downgrades

CSTL has been the topic of several research reports. Robert W. Baird dropped their price objective on shares of Castle Biosciences from $44.00 to $43.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Zacks Research downgraded Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Canaccord Genuity Group decreased their target price on Castle Biosciences from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, April 20th. KeyCorp set a $35.00 price target on Castle Biosciences in a research note on Friday, May 29th. Finally, Weiss Ratings downgraded Castle Biosciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Castle Biosciences currently has an average rating of “Moderate Buy” and an average price target of $42.83.

Institutional Trading of Castle Biosciences

Several hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. bought a new stake in Castle Biosciences during the 4th quarter valued at $26,000. Kemnay Advisory Services Inc. bought a new position in shares of Castle Biosciences in the fourth quarter valued at $35,000. Jones Financial Companies Lllp lifted its stake in shares of Castle Biosciences by 10,592.0% in the first quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company’s stock valued at $54,000 after buying an additional 2,648 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Castle Biosciences by 26.5% during the fourth 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 last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Castle Biosciences by 63.7% during the third quarter. Russell Investments Group Ltd. now owns 2,508 shares of the company’s stock valued at $57,000 after buying an additional 976 shares during the last quarter. 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.