Castle Biosciences, Inc. (NASDAQ:CSTL) CFO Sells $207,205.39 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) CFO Frank Stokes sold 6,923 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $29.93, for a total transaction of $207,205.39. Following the sale, the chief financial officer now directly owns 30,823 shares in the company, valued at approximately $922,532.39. The trade was a 18.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Castle Biosciences Stock Up 1.5 %

Shares of Castle Biosciences stock opened at $28.88 on Friday. The firm has a fifty day moving average of $31.01 and a two-hundred day moving average of $26.42. Castle Biosciences, Inc. has a one year low of $16.97 and a one year high of $35.84. The company has a market cap of $808.93 million, a P/E ratio of 144.41 and a beta of 0.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78.

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

Analysts Set New Price Targets

CSTL has been the subject of several research analyst reports. BTIG Research upped their target price on Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. KeyCorp increased their price target on shares of Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Scotiabank lifted their price target on shares of Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a research report on Wednesday, November 6th. Robert W. Baird lifted their target price on Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Lake Street Capital upped their price target on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $37.88.

Institutional Trading of Castle Biosciences

Large investors have recently bought and sold shares of the company. Point72 Asset Management L.P. grew its position in shares of Castle Biosciences by 828.3% in the third quarter. Point72 Asset Management L.P. now owns 499,192 shares of the company’s stock valued at $14,237,000 after purchasing an additional 445,415 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Castle Biosciences by 130.7% in the first quarter. Acadian Asset Management LLC now owns 210,824 shares of the company’s stock worth $4,669,000 after acquiring an additional 119,443 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Castle Biosciences by 116.5% in the second quarter. Marshall Wace LLP now owns 212,036 shares of the company’s stock worth $4,616,000 after acquiring an additional 114,104 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Castle Biosciences by 249.3% in the second quarter. Harbor Capital Advisors Inc. now owns 138,707 shares of the company’s stock valued at $3,020,000 after acquiring an additional 99,001 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Castle Biosciences by 147.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,458 shares of the company’s stock valued at $4,719,000 after acquiring an additional 98,571 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

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.