Insider Selling: Castle Biosciences (NASDAQ:CSTL) Insider Sells 6,214 Shares of Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek Maetzold sold 6,214 shares of Castle Biosciences stock in a transaction on Monday, April 6th. The shares were sold at an average price of $25.03, for a total value of $155,536.42. Following the completion of the transaction, the insider owned 21,479 shares of the company’s stock, valued at approximately $537,619.37. The trade was a 22.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Price Performance

CSTL traded up $0.36 during trading on Wednesday, hitting $25.19. The company’s stock had a trading volume of 394,638 shares, compared to its average volume of 396,369. The firm’s 50 day moving average price is $29.30 and its two-hundred day moving average price is $31.96. The company has a quick ratio of 5.11, a current ratio of 5.26 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a 12 month low of $14.59 and a 12 month high of $44.28. The stock has a market capitalization of $748.92 million, a price-to-earnings ratio of -29.64 and a beta of 1.18.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Guggenheim upped their price target on Castle Biosciences from $43.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, January 26th. BTIG Research upped their price target on Castle Biosciences from $38.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Morgan Stanley raised Castle Biosciences to a “buy” rating in a research note on Monday, March 2nd. Lake Street Capital upped their price target on Castle Biosciences from $35.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Finally, Canaccord Genuity Group upped their price target on Castle Biosciences from $37.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.57.

Hedge Funds Weigh In On Castle Biosciences

Large investors have recently made changes to their positions in the company. Federated Hermes Inc. bought a new stake in Castle Biosciences in the fourth quarter valued at about $26,000. Farther Finance Advisors LLC increased its holdings in Castle Biosciences by 139,100.0% in the third quarter. Farther Finance Advisors LLC now owns 1,392 shares of the company’s stock valued at $32,000 after purchasing an additional 1,391 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in Castle Biosciences in the third quarter valued at about $35,000. Kemnay Advisory Services Inc. bought a new stake in Castle Biosciences in the fourth quarter valued at about $35,000. Finally, CWM LLC increased its holdings in Castle Biosciences by 80.6% in 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 during the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

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.