Insider Selling: Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Sells 9,364 Shares of Stock

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) insider Derek J. Maetzold sold 9,364 shares of the company's stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $28.34, for a total transaction of $265,375.76. Following the sale, the insider now owns 84,762 shares of the company's stock, valued at $2,402,155.08. This trade represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Castle Biosciences Stock Performance

Shares of CSTL stock traded up $0.57 during mid-day trading on Thursday, reaching $27.09. The stock had a trading volume of 355,679 shares, compared to its average volume of 326,560. Castle Biosciences, Inc. has a one year low of $16.97 and a one year high of $35.84. The firm has a market cap of $758.71 million, a PE ratio of 135.46 and a beta of 0.92. The firm's 50 day simple moving average is $31.20 and its 200 day simple moving average is $27.20. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.14. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. The business had revenue of $85.78 million during the quarter, compared to analyst estimates of $78.55 million. During the same period in the prior year, the company posted ($0.26) earnings per share. On average, analysts forecast that Castle Biosciences, Inc. will post 0.34 EPS for the current year.

Hedge Funds Weigh In On Castle Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in CSTL. Quest Partners LLC lifted its position in shares of Castle Biosciences by 54.4% during the 3rd quarter. Quest Partners LLC now owns 4,318 shares of the company's stock worth $123,000 after buying an additional 1,522 shares during the period. US Bancorp DE raised its stake in Castle Biosciences by 1,889.2% during the third quarter. US Bancorp DE now owns 4,615 shares of the company's stock worth $132,000 after acquiring an additional 4,383 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Castle Biosciences during the third quarter valued at $140,000. Assetmark Inc. boosted its stake in shares of Castle Biosciences by 16.8% in the 3rd quarter. Assetmark Inc. now owns 5,212 shares of the company's stock valued at $149,000 after purchasing an additional 748 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of Castle Biosciences by 64.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company's stock worth $152,000 after purchasing an additional 2,093 shares during the last quarter. 92.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Canaccord Genuity Group boosted their price objective on Castle Biosciences from $35.00 to $42.00 and gave the stock a "buy" rating in a research report on Tuesday, October 29th. Scotiabank lifted their price target on Castle Biosciences from $37.00 to $44.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, November 6th. Lake Street Capital increased their price objective on Castle Biosciences from $34.00 to $40.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. KeyCorp raised their price objective on shares of Castle Biosciences from $28.00 to $36.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Finally, BTIG Research upped their target price on shares of Castle Biosciences from $35.00 to $40.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, Castle Biosciences has an average rating of "Buy" and an average target price of $39.71.

About Castle Biosciences

Castle Biosciences, Inc, a molecular diagnostics company, provides testing solutions for the diagnosis and treatment of dermatologic cancers, Barrett's esophagus, uveal melanoma, and mental health conditions. It offers DecisionDx-Melanoma, a risk stratification gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma; DecisionDx-SCC, a proprietary risk stratification GEP test for patients with cutaneous squamous cell carcinoma; MyPath Melanoma, a test used for patients with difficult-to-diagnose melanocytic lesions; and TissueCypher, a spatial omics test to predict future development of high-grade dysplasia and/or esophageal cancer in patients with non-dysplastic, indefinite dysplasia, or low-grade dysplasia Barrett's esophagus.

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