Insider Selling: Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Sells $25,090.80 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 1,236 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $20.30, for a total transaction of $25,090.80. Following the completion of the sale, the insider now directly owns 77,099 shares of the company’s stock, valued at $1,565,109.70. This represents a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Castle Biosciences Stock Down 0.8 %

Shares of CSTL stock opened at $19.94 on Monday. The stock has a market cap of $558.46 million, a P/E ratio of 99.70 and a beta of 0.98. The company’s fifty day simple moving average is $24.19 and its two-hundred day simple moving average is $27.98. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a 52 week low of $16.97 and a 52 week high of $35.84.

Hedge Funds Weigh In On Castle Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd bought a new stake in Castle Biosciences in the 4th quarter worth approximately $25,000. R Squared Ltd purchased a new position in shares of Castle Biosciences in the fourth quarter valued at $42,000. Quest Partners LLC increased its position in Castle Biosciences by 54.4% in the third quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock worth $123,000 after purchasing an additional 1,522 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Castle Biosciences during the fourth quarter valued at $128,000. Finally, Point72 DIFC Ltd bought a new position in Castle Biosciences during the third quarter valued at $140,000. 92.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CSTL shares. Stephens reissued an “overweight” rating and issued a $41.00 price objective on shares of Castle Biosciences in a research note on Thursday, January 2nd. Guggenheim set a $30.00 price target on Castle Biosciences and gave the company a “buy” rating in a report on Friday. Finally, Robert W. Baird upped their price objective on Castle Biosciences from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Castle Biosciences has a consensus rating of “Buy” and a consensus target price of $38.75.

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.