Tobin Juvenal Sells 1,730 Shares of Castle Biosciences (NASDAQ:CSTL) Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Tobin Juvenal sold 1,730 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $28.25, for a total transaction of $48,872.50. Following the completion of the transaction, the insider directly owned 78,995 shares in the company, valued at $2,231,608.75. This represents a 2.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Price Performance

NASDAQ:CSTL traded up $0.76 during trading hours on Tuesday, hitting $31.15. 675,143 shares of the stock were exchanged, compared to its average volume of 403,923. The firm’s fifty day moving average price is $22.97 and its 200 day moving average price is $26.37. Castle Biosciences, Inc. has a 52-week low of $17.72 and a 52-week high of $44.28. The company has a market cap of $944.78 million, a P/E ratio of -47.20 and a beta of 0.98. The company has a current ratio of 6.04, a quick ratio of 5.85 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last released its earnings results on Thursday, July 30th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.34. Castle Biosciences had a negative return on equity of 4.15% and a negative net margin of 5.43%.The business had revenue of $99.86 million for the quarter, compared to the consensus estimate of $86.23 million. As a group, equities research analysts anticipate that Castle Biosciences, Inc. will post -1.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Castle Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the company. Truist Financial Corp increased its stake in Castle Biosciences by 1.1% during the 4th quarter. Truist Financial Corp now owns 23,628 shares of the company’s stock worth $919,000 after buying an additional 257 shares during the period. Harbor Capital Advisors Inc. boosted its position in Castle Biosciences by 2.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 13,432 shares of the company’s stock valued at $523,000 after buying an additional 261 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in 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. CWM LLC grew its stake in shares of Castle Biosciences by 20.5% in the fourth quarter. CWM LLC now owns 2,302 shares of the company’s stock worth $90,000 after acquiring an additional 391 shares in the last quarter. Finally, HRT Financial LP grew its stake in shares of Castle Biosciences by 0.9% in the fourth quarter. HRT Financial LP now owns 47,654 shares of the company’s stock worth $1,853,000 after acquiring an additional 415 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Castle Biosciences News Roundup

Here are the key news stories impacting Castle Biosciences this week:

• Positive Sentiment: BTIG raises price target and maintains Buy rating: BTIG Research increased its target for Castle Biosciences from $40 to $44 and kept a “buy” rating. The new target implies substantial upside from the referenced trading level, signaling confidence in the company’s growth outlook and diagnostics business. BTIG raises Castle Biosciences price target
• Neutral Sentiment: Diagnostics update draws investor attention: A recent report highlighted an update involving Castle Biosciences’ diagnostic operations, but the available information does not provide enough detail to determine its expected effect on revenue, reimbursement, or earnings. Castle Biosciences diagnostics update
• Negative Sentiment: Insiders disclosed sizable share sales: Derek J. Maetzold sold 28,646 shares for approximately $867,000 across July 31 and August 3, while Tobin W. Juvenal sold 19,040 shares for approximately $556,000. The transactions reduced their reported holdings and could raise concerns about insider confidence or add selling pressure. However, all sales were executed under pre-arranged Rule 10b5-1 plans, meaning they were likely scheduled in advance rather than based on current market conditions. Castle Biosciences insider sale filing

Wall Street Analysts Forecast Growth

CSTL has been the subject of a number of recent research reports. Robert W. Baird set a $36.00 target price on shares of Castle Biosciences in a research report on Friday. Weiss Ratings raised shares of Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday. BTIG Research raised their target price on shares of Castle Biosciences from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday. Wall Street Zen upgraded Castle Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Canaccord Genuity Group cut their price target on Castle Biosciences from $50.00 to $40.00 and set a “buy” rating for the company in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $42.00.

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.