Castle Biosciences (NASDAQ:CSTL) Insider Sells $74,830.52 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek Maetzold sold 3,622 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $20.66, for a total value of $74,830.52. Following the completion of the transaction, the insider directly owned 12,646 shares of the company’s stock, valued at approximately $261,266.36. This trade represents a 22.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Price Performance

CSTL stock traded down $0.21 during midday trading on Wednesday, reaching $20.25. The company had a trading volume of 310,438 shares, compared to its average volume of 394,666. The company has a market capitalization of $614.18 million, a price-to-earnings ratio of -46.02 and a beta of 1.04. The stock has a 50 day moving average price of $21.99 and a 200-day moving average price of $30.05. Castle Biosciences, Inc. has a 1-year low of $14.59 and a 1-year high of $44.28. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 6.53.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on CSTL. BTIG Research reduced their target price on Castle Biosciences from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Weiss Ratings lowered Castle Biosciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. 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. Morgan Stanley raised Castle Biosciences to a “buy” rating in a research report on Monday, March 2nd. Finally, Zacks Research lowered Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Castle Biosciences presently has an average rating of “Moderate Buy” and an average target price of $42.83.

Institutional Investors Weigh In On Castle Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC grew its stake in Castle Biosciences by 8.4% in the first quarter. Empowered Funds LLC now owns 132,184 shares of the company’s stock worth $3,245,000 after purchasing an additional 10,264 shares during the period. The Manufacturers Life Insurance Company grew its stake in Castle Biosciences by 46.6% in the first quarter. The Manufacturers Life Insurance Company now owns 12,438 shares of the company’s stock worth $305,000 after purchasing an additional 3,951 shares during the period. Quantinno Capital Management LP grew its stake in Castle Biosciences by 387.3% in the first quarter. Quantinno Capital Management LP now owns 45,476 shares of the company’s stock worth $1,116,000 after purchasing an additional 36,144 shares during the period. SummitTX Capital L.P. grew its stake in Castle Biosciences by 285.0% in the first quarter. SummitTX Capital L.P. now owns 67,033 shares of the company’s stock worth $1,646,000 after purchasing an additional 49,623 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Castle Biosciences by 8.1% in the first quarter. Renaissance Technologies LLC now owns 532,800 shares of the company’s stock worth $13,080,000 after purchasing an additional 39,700 shares during the period. 92.60% of the stock is owned by hedge funds and other institutional investors.

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.