Castle Biosciences, Inc. (NASDAQ:CSTL) CFO Sells $257,000.00 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) CFO Frank Stokes sold 10,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $25.70, for a total value of $257,000.00. Following the transaction, the chief financial officer now directly owns 30,823 shares in the company, valued at approximately $792,151.10. The transaction was disclosed in a filing with the SEC, which is available at this link.

Castle Biosciences Stock Performance

Shares of NASDAQ:CSTL traded up $0.94 during trading on Tuesday, hitting $27.69. The stock had a trading volume of 369,454 shares, compared to its average volume of 298,321. Castle Biosciences, Inc. has a 12-month low of $12.07 and a 12-month high of $28.22. The stock has a market capitalization of $764.44 million, a price-to-earnings ratio of -23.87 and a beta of 0.93. The company has a quick ratio of 9.02, a current ratio of 9.25 and a debt-to-equity ratio of 0.02. The stock has a 50-day simple moving average of $21.68 and a two-hundred day simple moving average of $22.10.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.47. The company had revenue of $87.00 million during the quarter, compared to analysts’ expectations of $69.95 million. Castle Biosciences had a negative return on equity of 7.91% and a negative net margin of 12.28%. During the same period last year, the business earned ($0.70) earnings per share. On average, equities research analysts expect that Castle Biosciences, Inc. will post -1.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CSTL. Stephens reissued an “overweight” rating and set a $37.00 price target on shares of Castle Biosciences in a research report on Tuesday, August 6th. Robert W. Baird raised their price objective on Castle Biosciences from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $32.80.

Institutional Trading of Castle Biosciences

Several institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. grew its holdings in Castle Biosciences by 7.0% in the fourth quarter. Principal Financial Group Inc. now owns 1,585,673 shares of the company’s stock valued at $34,219,000 after purchasing an additional 103,503 shares during the period. Vanguard Group Inc. grew its holdings in Castle Biosciences by 2.2% in the first quarter. Vanguard Group Inc. now owns 1,494,176 shares of the company’s stock valued at $33,096,000 after purchasing an additional 32,695 shares during the period. Bellevue Group AG grew its holdings in Castle Biosciences by 0.4% in the fourth quarter. Bellevue Group AG now owns 1,232,378 shares of the company’s stock valued at $26,595,000 after purchasing an additional 4,347 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Castle Biosciences by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 809,934 shares of the company’s stock worth $17,631,000 after acquiring an additional 60,675 shares during the last quarter. Finally, Parkman Healthcare Partners LLC boosted its stake in shares of Castle Biosciences by 59.0% in the fourth quarter. Parkman Healthcare Partners LLC now owns 357,156 shares of the company’s stock worth $7,707,000 after acquiring an additional 132,564 shares during the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.

About Castle Biosciences

Castle Biosciences, Inc, a molecular diagnostics company, provides testing solutions for the diagnosis and treatment of dermatologic cancers, Barrett's esophagus, uveal melanoma, and mental health conditions. It offers DecisionDx-Melanoma, a risk stratification gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma; DecisionDx-SCC, a proprietary risk stratification GEP test for patients with cutaneous squamous cell carcinoma; MyPath Melanoma, a test used for patients with difficult-to-diagnose melanocytic lesions; and TissueCypher, a spatial omics test to predict future development of high-grade dysplasia and/or esophageal cancer in patients with non-dysplastic, indefinite dysplasia, or low-grade dysplasia Barrett's esophagus.