Castle Biosciences (NASDAQ:CSTL) Insider Sells $106,849.92 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Tobin Juvenal sold 3,306 shares of Castle Biosciences stock in a transaction on Monday, September 14th. The stock was sold at an average price of $32.32, for a total transaction of $106,849.92. Following the sale, the insider directly owned 61,878 shares in the company, valued at approximately $1,999,896.96. This trade represents a 5.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Price Performance

Shares of NASDAQ CSTL opened at $35.34 on Friday. The firm has a 50-day simple moving average of $30.27 and a 200-day simple moving average of $25.69. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -53.55 and a beta of 0.99. The company has a quick ratio of 5.85, a current ratio of 6.04 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a 52 week low of $17.72 and a 52 week high of $44.28.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CSTL. BlackRock Inc. purchased a new stake in shares of Castle Biosciences in the 2nd quarter valued at approximately $78,513,000. Summit Partners Public Asset Management LLC increased its holdings in Castle Biosciences by 164.7% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company’s stock valued at $41,184,000 after purchasing an additional 658,725 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in Castle Biosciences in the second quarter valued at approximately $15,440,000. Renaissance Technologies LLC raised its position in Castle Biosciences by 8.1% in the first quarter. Renaissance Technologies LLC now owns 532,800 shares of the company’s stock valued at $13,080,000 after purchasing an additional 39,700 shares during the period. Finally, AIGH Capital Management LLC acquired a new position in Castle Biosciences during the second quarter worth $13,001,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CSTL. Roth Capital assumed coverage on Castle Biosciences in a report on Wednesday, June 24th. They issued a “buy” rating and a $40.00 price target for the company. BTIG Research upped their target price on Castle Biosciences from $40.00 to $44.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Weiss Ratings raised Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. Zacks Research lowered Castle Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Robert W. Baird set a $36.00 price target on shares of Castle Biosciences in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Castle Biosciences currently 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 that develops and commercializes tests designed to help physicians make more informed decisions about cancer diagnosis and treatment. Its products use genomic and molecular information to assess disease characteristics, patient risk and likely outcomes.

The company’s portfolio includes DecisionDx-Melanoma, which helps assess the risk of metastasis in patients with cutaneous melanoma; DecisionDx-SCC, which evaluates metastatic risk in certain patients with cutaneous squamous cell carcinoma; and MyPath Melanoma, which assists in distinguishing benign from malignant melanocytic lesions.