Insider Selling: Castle Biosciences (NASDAQ:CSTL) Insider Sells 3,294 Shares of Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Tobin Juvenal sold 3,294 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $35.14, for a total value of $115,751.16. Following the transaction, the insider owned 58,584 shares in the company, valued at $2,058,641.76. This trade represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Stock Performance

CSTL stock traded down $0.02 during trading on Wednesday, hitting $35.48. 559,268 shares of the company’s stock traded hands, compared to its average volume of 397,261. 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. The stock has a fifty day moving average price of $29.56 and a two-hundred day moving average price of $25.54. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -53.76 and a beta of 0.99.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.07) earnings per share (EPS) 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 company had revenue of $99.86 million for the quarter, compared to the consensus estimate of $86.23 million. As a group, equities analysts anticipate that Castle Biosciences, Inc. will post -1.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CSTL shares. Wall Street Zen raised shares of Castle Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. BTIG Research increased their price target on Castle Biosciences from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Zacks Research downgraded Castle Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Roth Capital initiated coverage on Castle Biosciences in a report on Wednesday, June 24th. They issued a “buy” rating and a $40.00 price target on the stock. Finally, Robert W. Baird set a $36.00 price objective on Castle Biosciences in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Castle Biosciences has an average rating of “Moderate Buy” and an average price target of $42.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new stake in shares of Castle Biosciences in the second quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Castle Biosciences by 140.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,750 shares of the company’s stock worth $68,000 after buying an additional 1,022 shares during the period. Quantbot Technologies LP acquired a new position in shares of Castle Biosciences during the second quarter worth approximately $62,000. Globeflex Capital L P bought a new position in Castle Biosciences in the 4th quarter worth approximately $146,000. Finally, State of Wyoming bought a new position in Castle Biosciences in the 2nd quarter worth approximately $117,000. Institutional investors own 92.60% of the company’s stock.

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.