Derek J. Maetzold Sells 9,364 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) Stock

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

Castle Biosciences Stock Up 1.6 %

NASDAQ CSTL opened at $27.53 on Friday. The stock’s 50 day simple moving average is $31.10 and its 200 day simple moving average is $27.23. 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 $771.03 million, a PE ratio of 137.66 and a beta of 0.92. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64.

Castle Biosciences (NASDAQ:CSTL) last announced its earnings results on Monday, November 4th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.14. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. The company had revenue of $85.78 million for the quarter, compared to analysts’ expectations of $78.55 million. During the same quarter in the prior year, the business earned ($0.26) earnings per share. As a group, sell-side analysts forecast that Castle Biosciences, Inc. will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on CSTL. Scotiabank increased their target price on shares of Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. BTIG Research lifted their price target on shares of Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. KeyCorp lifted their target price on shares of Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Robert W. Baird lifted their price objective on Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Canaccord Genuity Group raised their target price on Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Castle Biosciences has an average rating of “Buy” and a consensus price target of $39.71.

Institutional Investors Weigh In On Castle Biosciences

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