Insider Selling: Castle Biosciences (NASDAQ:CSTL) Insider Sells 18,650 Shares of Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek Maetzold sold 18,650 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $25.93, for a total transaction of $483,594.50. Following the completion of the transaction, the insider owned 22,129 shares in the company, valued at $573,804.97. This trade represents a 45.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Castle Biosciences Stock Performance

NASDAQ:CSTL traded up $0.09 during mid-day trading on Thursday, reaching $25.70. 209,769 shares of the company’s stock were exchanged, compared to its average volume of 418,124. Castle Biosciences, Inc. has a one year low of $14.59 and a one year high of $44.28. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.11 and a current ratio of 5.26. The business’s fifty day simple moving average is $33.79 and its two-hundred day simple moving average is $31.74. The firm has a market capitalization of $764.06 million, a PE ratio of -30.24 and a beta of 1.09.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.15. Castle Biosciences had a negative net margin of 7.02% and a negative return on equity of 0.89%. The firm had revenue of $81.88 million during the quarter, compared to the consensus estimate of $81.19 million. Analysts anticipate that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.

Institutional Trading of Castle Biosciences

Hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. bought a new position in shares of Castle Biosciences in the 4th quarter valued at $26,000. Farther Finance Advisors LLC grew its position in Castle Biosciences by 139,100.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,392 shares of the company’s stock worth $32,000 after acquiring an additional 1,391 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Castle Biosciences in the 3rd quarter worth about $35,000. Kemnay Advisory Services Inc. bought a new position in Castle Biosciences in the fourth quarter valued at about $35,000. Finally, CWM LLC boosted its stake in shares of Castle Biosciences by 80.6% during the third quarter. CWM LLC now owns 1,911 shares of the company’s stock valued at $44,000 after purchasing an additional 853 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CSTL. Lake Street Capital lifted their price objective on Castle Biosciences from $35.00 to $52.00 and gave the company a “buy” rating in a report on Monday, January 12th. KeyCorp restated an “overweight” rating and issued a $50.00 price target on shares of Castle Biosciences in a research report on Thursday, January 29th. Canaccord Genuity Group upped their price objective on shares of Castle Biosciences from $37.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Castle Biosciences in a research note on Monday, December 29th. Finally, Morgan Stanley upgraded shares of Castle Biosciences to a “buy” rating in a research report on Monday, March 2nd. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.57.

Castle Biosciences Company Profile

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.