Castle Biosciences (NASDAQ:CSTL) Stock Price Down 7% – Should You Sell?

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) traded down 7% on Thursday . The stock traded as low as $31.28 and last traded at $31.32. 226,852 shares changed hands during trading, a decline of 41% from the average session volume of 385,790 shares. The stock had previously closed at $33.67.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Castle Biosciences in a research report on Monday, December 29th. BTIG Research upped their target price on Castle Biosciences from $38.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Guggenheim lifted their price target on shares of Castle Biosciences from $43.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Lake Street Capital boosted their price target on shares of Castle Biosciences from $35.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $50.00 price objective on shares of Castle Biosciences in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.14.

Castle Biosciences Stock Down 6.5%

The company has a market cap of $918.90 million, a PE ratio of -69.98 and a beta of 1.06. The business has a fifty day simple moving average of $38.40 and a two-hundred day simple moving average of $30.66. The company has a current ratio of 6.47, a quick ratio of 6.31 and a debt-to-equity ratio of 0.02.

Insider Transactions at Castle Biosciences

In related news, COO Kristen M. Oelschlager sold 14,888 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $39.31, for a total transaction of $585,247.28. Following the completion of the sale, the chief operating officer owned 12,323 shares of the company’s stock, valued at approximately $484,417.13. This represents a 54.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Derek J. Maetzold sold 5,115 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $40.05, for a total transaction of $204,855.75. Following the completion of the transaction, the insider directly owned 45,822 shares in the company, valued at $1,835,171.10. This trade represents a 10.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 34,732 shares of company stock worth $1,372,743 over the last 90 days. 6.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Castle Biosciences

A number of institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. acquired a new position in Castle Biosciences in the 4th quarter valued at about $26,000. Farther Finance Advisors LLC raised its position in shares of Castle Biosciences by 139,100.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,392 shares of the company’s stock valued at $32,000 after buying an additional 1,391 shares during the period. State of Alaska Department of Revenue acquired a new position in Castle Biosciences in the third quarter valued at approximately $35,000. Kemnay Advisory Services Inc. purchased a new position in Castle Biosciences in the fourth quarter worth approximately $35,000. Finally, CWM LLC grew its position in Castle Biosciences by 80.6% in the third quarter. CWM LLC now owns 1,911 shares of the company’s stock worth $44,000 after acquiring an additional 853 shares during the period. 92.60% of the stock is owned by hedge funds and other institutional investors.

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.