Insider Selling: Castle Biosciences (NASDAQ:CSTL) Insider Sells $412,609.60 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek Maetzold sold 12,428 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $33.20, for a total transaction of $412,609.60. Following the completion of the transaction, the insider owned 21,479 shares of the company’s stock, valued at $713,102.80. This trade represents a 36.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Price Performance

CSTL traded up $0.41 during trading on Tuesday, reaching $33.44. The stock had a trading volume of 396,178 shares, compared to its average volume of 404,443. The business has a 50-day moving average of $27.48 and a 200-day moving average of $25.43. Castle Biosciences, Inc. has a one year low of $17.72 and a one year high of $44.28. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.85 and a current ratio of 6.04. The stock has a market cap of $1.02 billion, a PE ratio of -50.67 and a beta of 0.98.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.34. The firm had revenue of $99.86 million during the quarter, compared to analyst estimates of $86.23 million. Castle Biosciences had a negative return on equity of 4.15% and a negative net margin of 5.43%. As a group, equities research analysts anticipate that Castle Biosciences, Inc. will post -1.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Castle Biosciences

A number of institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. purchased a new stake in Castle Biosciences in the fourth quarter worth about $26,000. Kemnay Advisory Services Inc. purchased a new position in shares of Castle Biosciences during the 4th quarter worth approximately $35,000. Global Retirement Partners LLC bought a new position in shares of Castle Biosciences in the 2nd quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Castle Biosciences by 140.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,750 shares of the company’s stock valued at $68,000 after purchasing an additional 1,022 shares during the period. Finally, CWM LLC lifted its stake in shares of Castle Biosciences by 20.5% in the 4th quarter. CWM LLC now owns 2,302 shares of the company’s stock valued at $90,000 after purchasing an additional 391 shares during the period. 92.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Robert W. Baird set a $36.00 price objective on shares of Castle Biosciences in a research note on Friday, July 31st. BTIG Research boosted their price target on Castle Biosciences from $40.00 to $44.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Wall Street Zen raised Castle Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Zacks Research lowered Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Finally, KeyCorp set a $35.00 target price on Castle Biosciences in a research note on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Castle Biosciences presently has an average rating of “Moderate Buy” and an average price target 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.