Insider Selling: Castle Biosciences (NASDAQ:CSTL) Insider Sells $35,362.80 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Tobin Juvenal sold 1,034 shares of Castle Biosciences stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $34.20, for a total transaction of $35,362.80. Following the sale, the insider directly owned 52,007 shares of the company’s stock, valued at $1,778,639.40. This represents a 1.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Stock Up 0.9%

Shares of NASDAQ CSTL opened at $35.56 on Friday. Castle Biosciences, Inc. has a 52-week low of $17.72 and a 52-week high of $44.28. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -53.88 and a beta of 0.94. The stock has a 50 day moving average price of $32.49 and a 200 day moving average price of $26.27. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.85 and a current ratio of 6.04.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.34. The company had revenue of $99.86 million for the quarter, compared to the consensus estimate of $86.23 million. Castle Biosciences had a negative return on equity of 4.15% and a negative net margin of 5.43%. Sell-side analysts expect that Castle Biosciences, Inc. will post -1.29 earnings per share for the current year.

Institutional Investors Weigh In On Castle Biosciences

Hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC purchased a new position in Castle Biosciences in the second quarter valued at about $26,000. Quantbot Technologies LP bought a new position in Castle Biosciences in the second quarter worth about $62,000. Caitong International Asset Management Co. Ltd lifted 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 valued at $68,000 after buying an additional 1,022 shares during the last quarter. State of Wyoming purchased a new stake in shares of Castle Biosciences during the second quarter valued at about $117,000. Finally, Assetmark Inc. boosted its holdings in shares of Castle Biosciences by 9.3% in the 1st quarter. Assetmark Inc. now owns 5,779 shares of the company’s stock valued at $142,000 after buying an additional 492 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CSTL has been the subject of several recent research reports. BTIG Research lifted their price objective on Castle Biosciences from $40.00 to $44.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Roth Capital started coverage on shares of Castle Biosciences in a research report on Wednesday, June 24th. They set a “buy” rating and a $40.00 target price on the stock. Wall Street Zen raised shares of Castle Biosciences from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Robert W. Baird set a $36.00 price target on shares of Castle Biosciences in a report on Friday, July 31st. Finally, Weiss Ratings raised shares of Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $42.00.

Castle Biosciences Company Profile

Castle Biosciences, Inc is a molecular diagnostics company that develops and commercializes tests designed to provide personalized information for patients with cancer and other serious diseases. Its products analyze biological characteristics in tissue samples to help physicians assess disease risk, guide treatment decisions and support patient management.

The company’s portfolio includes diagnostic tests for skin cancers, such as DecisionDx-Melanoma for assessing metastatic risk in patients with cutaneous melanoma and DecisionDx-SCC for evaluating metastatic risk in certain cases of cutaneous squamous cell carcinoma.