Derek J. Maetzold Sells 1,972 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 1,972 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $31.35, for a total value of $61,822.20. Following the completion of the transaction, the insider now directly owns 85,748 shares in the company, valued at approximately $2,688,199.80. This trade represents a 2.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Castle Biosciences Stock Down 0.9 %

CSTL traded down $0.28 during trading hours on Monday, hitting $30.91. 342,719 shares of the company’s stock were exchanged, compared to its average volume of 327,220. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a 12-month low of $16.97 and a 12-month high of $35.84. The firm has a market cap of $865.70 million, a P/E ratio of 154.55 and a beta of 0.92. The firm has a 50 day moving average of $31.19 and a 200 day moving average of $26.95.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating 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 business had revenue of $85.78 million for the quarter, compared to analysts’ expectations of $78.55 million. During the same period last year, the firm earned ($0.26) earnings per share. Analysts predict that Castle Biosciences, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CSTL has been the topic of several research analyst reports. Canaccord Genuity Group boosted their price objective on shares of Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. BTIG Research boosted their price target 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. Robert W. Baird increased their price objective on shares of Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. 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 report on Tuesday, November 5th. Finally, Scotiabank upped their price target on Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $37.88.

Hedge Funds Weigh In On Castle Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in CSTL. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Castle Biosciences by 147.4% in 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 buying an additional 98,571 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Castle Biosciences by 11.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 153,907 shares of the company’s stock worth $4,389,000 after acquiring an additional 15,200 shares in the last quarter. Lisanti Capital Growth LLC boosted its position in shares of Castle Biosciences by 60.2% during the 3rd quarter. Lisanti Capital Growth LLC now owns 154,710 shares of the company’s stock worth $4,412,000 after acquiring an additional 58,160 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Castle Biosciences during the 3rd quarter worth about $1,478,000. Finally, Principal Financial Group Inc. lifted its stake in Castle Biosciences by 2.7% during the third quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company’s stock worth $43,879,000 after purchasing an additional 40,377 shares during the last quarter. Hedge funds and other institutional investors 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.