Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Derek J. Maetzold Sells 2,715 Shares

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 2,715 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $29.62, for a total transaction of $80,418.30. Following the completion of the sale, the insider now owns 82,047 shares in the company, valued at approximately $2,430,232.14. This trade represents a 3.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Castle Biosciences Stock Performance

Shares of NASDAQ:CSTL traded up $0.55 on Wednesday, hitting $32.72. The company’s stock had a trading volume of 351,560 shares, compared to its average volume of 334,492. The company has a market capitalization of $916.39 million, a price-to-earnings ratio of 163.61 and a beta of 0.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78. Castle Biosciences, Inc. has a 12 month low of $16.97 and a 12 month high of $35.84. The stock’s 50-day moving average is $29.95 and its two-hundred day moving average is $27.74.

Castle Biosciences (NASDAQ:CSTL) last released its earnings results on Monday, November 4th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.14. The firm had revenue of $85.78 million for the quarter, compared to analysts’ expectations of $78.55 million. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. During the same quarter last year, the company earned ($0.26) EPS. On average, equities research analysts forecast that Castle Biosciences, Inc. will post 0.34 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on CSTL. Canaccord Genuity Group lifted their target price on Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. BTIG Research increased their price objective on shares of Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Stephens reaffirmed an “overweight” rating and set a $41.00 target price on shares of Castle Biosciences in a report on Thursday, January 2nd. Scotiabank raised their price target on Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a report on Wednesday, November 6th. Finally, Lake Street Capital upped their price objective on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $40.29.

Institutional Investors Weigh In On Castle Biosciences

A number of institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in shares of Castle Biosciences by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company’s stock worth $43,879,000 after buying an additional 40,377 shares in the last quarter. Bellevue Group AG raised its position in Castle Biosciences by 3.7% in the third quarter. Bellevue Group AG now owns 1,262,030 shares of the company’s stock worth $35,993,000 after acquiring an additional 44,929 shares in the last quarter. Portolan Capital Management LLC raised its position in Castle Biosciences by 3.7% in the third quarter. Portolan Capital Management LLC now owns 1,255,628 shares of the company’s stock worth $35,811,000 after acquiring an additional 44,676 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Castle Biosciences by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 809,934 shares of the company’s stock valued at $17,631,000 after purchasing an additional 60,675 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Castle Biosciences by 9.8% in the 3rd quarter. State Street Corp now owns 680,001 shares of the company’s stock worth $19,394,000 after purchasing an additional 60,924 shares during the last quarter. 92.60% of the stock is currently 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.