Castle Biosciences (NASDAQ:CSTL) COO Sells 8,586 Shares of Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) COO Kristen Oelschlager sold 8,586 shares of Castle Biosciences stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $29.77, for a total transaction of $255,605.22. Following the sale, the chief operating officer owned 13,288 shares in the company, valued at approximately $395,583.76. The trade was a 39.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Price Performance

NASDAQ CSTL traded down $0.78 on Wednesday, reaching $30.40. The company had a trading volume of 520,195 shares, compared to its average volume of 405,033. The stock has a market capitalization of $928.72 million, a PE ratio of -46.06 and a beta of 0.98. Castle Biosciences, Inc. has a 12 month low of $17.72 and a 12 month high of $44.28. The company has a quick ratio of 5.85, a current ratio of 6.04 and a debt-to-equity ratio of 0.02. The firm’s 50 day moving average price is $23.20 and its 200 day moving average price is $26.30.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.34. The firm had revenue of $99.86 million during the quarter, compared to analyst estimates of $86.23 million. Castle Biosciences had a negative return on equity of 4.15% and a negative net margin of 5.43%. As a group, equities analysts predict that Castle Biosciences, Inc. will post -1.29 earnings per share for the current year.

Institutional Investors Weigh In On Castle Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. bought a new stake in shares of Castle Biosciences in the 4th quarter worth about $26,000. Kemnay Advisory Services Inc. bought a new position in Castle Biosciences during the 4th quarter valued at about $35,000. Mirae Asset Global Investments Co. Ltd. raised its position in Castle Biosciences by 26.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,418 shares of the company’s stock worth $55,000 after purchasing an additional 297 shares during the period. Caitong International Asset Management Co. Ltd raised its position in Castle Biosciences by 140.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,750 shares of the company’s stock worth $68,000 after purchasing an additional 1,022 shares during the period. Finally, CWM LLC lifted its stake in Castle Biosciences by 20.5% in the fourth quarter. CWM LLC now owns 2,302 shares of the company’s stock worth $90,000 after purchasing an additional 391 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CSTL shares. Roth Capital assumed coverage on shares of Castle Biosciences in a report on Wednesday, June 24th. They issued a “buy” rating and a $40.00 target price for the company. Canaccord Genuity Group reduced their target price on shares of Castle Biosciences from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Zacks Research downgraded shares of Castle Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. KeyCorp set a $35.00 price target on Castle Biosciences in a research report on Friday, May 29th. Finally, Wall Street Zen upgraded Castle Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.00.

Trending Headlines about Castle Biosciences

Here are the key news stories impacting Castle Biosciences this week:

• Positive Sentiment: BTIG maintained its “buy” rating and raised its price target to $44 from $40. The higher target reflects continued confidence in Castle Biosciences’ molecular diagnostics business and suggests meaningful potential upside from recent trading levels. BTIG analyst price target update
• Neutral Sentiment: The company’s latest quarterly results provide a supportive backdrop: Castle Biosciences reported a smaller-than-expected loss and revenue above consensus estimates. However, the company remains unprofitable, with analysts expecting a full-year loss.
• Negative Sentiment: Insiders disclosed substantial sales totaling approximately $1.42 million. Derek J. Maetzold sold 28,646 shares for about $867,000 across July 31 and August 3, while Tobin W. Juvenal sold 19,040 shares for roughly $556,000. The transactions significantly reduced their holdings and can weigh on investor sentiment. Because the sales were made under pre-arranged 10b5-1 plans, they are a weaker bearish signal than discretionary open-market selling. Castle Biosciences insider sales filing

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.