Insider Selling: Castle Biosciences (NASDAQ:CSTL) Insider Sells $150,130.24 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek Maetzold sold 6,214 shares of the business’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $24.16, for a total transaction of $150,130.24. Following the completion of the sale, the insider directly owned 21,479 shares in the company, valued at approximately $518,932.64. This represents a 22.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Stock Up 2.4%

CSTL traded up $0.57 during trading hours on Wednesday, hitting $24.46. 340,082 shares of the company’s stock were exchanged, compared to its average volume of 388,052. The stock has a market cap of $741.87 million, a price-to-earnings ratio of -55.59 and a beta of 1.00. Castle Biosciences, Inc. has a 1-year low of $14.59 and a 1-year high of $44.28. The stock’s 50-day moving average is $22.39 and its two-hundred day moving average is $26.71. The company has a quick ratio of 6.53, a current ratio of 6.75 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.49) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.49). Castle Biosciences had a negative net margin of 3.78% and a negative return on equity of 2.77%. The firm had revenue of $84.23 million for the quarter, compared to analyst estimates of $79.23 million. Sell-side analysts predict that Castle Biosciences, Inc. will post -1.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Castle Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the company. RTW Investments LP acquired a new stake in Castle Biosciences in the 4th quarter valued at about $82,283,000. Summit Partners Public Asset Management LLC increased its position in Castle Biosciences by 164.7% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company’s stock worth $41,184,000 after buying an additional 658,725 shares during the last quarter. Eventide Asset Management LLC bought a new stake in Castle Biosciences in the fourth quarter valued at approximately $11,864,000. SG Americas Securities LLC raised its stake in Castle Biosciences by 1,051.8% in the first quarter. SG Americas Securities LLC now owns 244,886 shares of the company’s stock valued at $6,012,000 after buying an additional 223,624 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in shares of Castle Biosciences in the fourth quarter valued at approximately $8,502,000. 92.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CSTL. Zacks Research lowered Castle Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. KeyCorp set a $35.00 price target on Castle Biosciences in a research report on Friday, May 29th. Wall Street Zen cut Castle Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Roth Capital started coverage on Castle Biosciences in a report on Wednesday, June 24th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Canaccord Genuity Group cut their price objective 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 given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Castle Biosciences currently has an average rating of “Moderate Buy” and an average target price of $42.43.

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.