Insider Selling: Castle Biosciences (NASDAQ:CSTL) Insider Sells $196,776.50 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Tobin Juvenal sold 5,543 shares of the company’s stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $35.50, for a total value of $196,776.50. Following the completion of the transaction, the insider directly owned 53,041 shares of the company’s stock, valued at approximately $1,882,955.50. This trade represents a 9.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Stock Performance

NASDAQ:CSTL opened at $35.56 on Friday. The stock has a 50-day moving average price of $32.49 and a 200 day moving average price of $26.27. The stock has a market capitalization of $1.09 billion, a P/E ratio of -53.88 and a beta of 0.94. Castle Biosciences, Inc. has a 12-month low of $17.72 and a 12-month high of $44.28. The company has a current ratio of 6.04, a quick ratio of 5.85 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.34. Castle Biosciences had a negative return on equity of 4.15% and a negative net margin of 5.43%.The company had revenue of $99.86 million for the quarter, compared to analysts’ expectations of $86.23 million. Equities research analysts forecast that Castle Biosciences, Inc. will post -1.29 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CSTL. Advisors Capital Management LLC purchased a new position in Castle Biosciences in the second quarter valued at about $5,681,000. BlackRock Inc. bought a new stake in shares of Castle Biosciences in the 2nd quarter valued at about $78,513,000. Quantinno Capital Management LP grew its position in shares of Castle Biosciences by 387.3% in the 1st quarter. Quantinno Capital Management LP now owns 45,476 shares of the company’s stock worth $1,116,000 after buying an additional 36,144 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Castle Biosciences during the 2nd quarter worth approximately $3,395,000. Finally, Bank of New York Mellon Corp purchased a new stake in Castle Biosciences during the second quarter valued at approximately $2,338,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

About Castle Biosciences

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.