Castle Biosciences (NASDAQ:CSTL) Insider Derek Maetzold Sells 20,356 Shares of Stock

Key Points

• Insider sale: Derek Maetzold sold 20,356 Castle Biosciences shares for approximately $633,275 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 48.66% to 21,479 shares.
• Quarterly results: Castle reported a quarterly loss of $0.07 per share, beating estimates by $0.34, while revenue of $99.86 million exceeded forecasts of $86.23 million.
• Market outlook: Institutional investors own 92.6% of the company, and analysts maintain a “Moderate Buy” consensus with a $42 average price target versus the stock’s reported $30.47 price.

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) insider Derek Maetzold sold 20,356 shares of Castle Biosciences stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $31.11, for a total value of $633,275.16. Following the transaction, the insider owned 21,479 shares in the company, valued at approximately $668,211.69. This represents a 48.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Trading Up 0.2%

NASDAQ:CSTL traded up $0.07 on Thursday, reaching $30.47. The company's stock had a trading volume of 833,433 shares, compared to its average volume of 407,908. Castle Biosciences, Inc. has a 1-year low of $17.72 and a 1-year high of $44.28. The business's 50-day moving average price is $23.38 and its two-hundred day moving average price is $26.23. The firm has a market cap of $930.86 million, a PE ratio of -46.17 and a beta of 0.98. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.85 and a current ratio of 6.04.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last released 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 analyst estimates of $86.23 million. Equities research analysts anticipate that Castle Biosciences, Inc. will post -1.29 earnings per share for the current fiscal year.

Institutional Trading of Castle Biosciences

Institutional investors have recently made changes to their positions in the business. Summit Partners Public Asset Management LLC increased its position in shares of Castle Biosciences by 164.7% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company's stock valued at $41,184,000 after acquiring an additional 658,725 shares during the last quarter. SummitTX Capital L.P. boosted its position in Castle Biosciences by 285.0% during the first quarter. SummitTX Capital L.P. now owns 67,033 shares of the company's stock valued at $1,646,000 after purchasing an additional 49,623 shares during the last quarter. Eventide Asset Management LLC bought a new position in Castle Biosciences in the fourth quarter valued at approximately $11,864,000. KBC Group NV acquired a new position in shares of Castle Biosciences during the 1st quarter worth approximately $907,000. Finally, SG Americas Securities LLC increased its position in shares of Castle Biosciences by 1,051.8% during the 1st quarter. SG Americas Securities LLC now owns 244,886 shares of the company's stock worth $6,012,000 after purchasing an additional 223,624 shares during the last quarter. Institutional investors own 92.60% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CSTL. BTIG Research lifted their price target on shares of Castle Biosciences from $40.00 to $44.00 and gave the company a "buy" rating in a research note on Monday. KeyCorp set a $35.00 price objective on shares of Castle Biosciences in a report on Friday, May 29th. Roth Capital initiated coverage on shares of Castle Biosciences in a research report on Wednesday, June 24th. They issued a "buy" rating and a $40.00 price objective on the stock. Wall Street Zen raised shares of Castle Biosciences from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Robert W. Baird set a $36.00 target price on Castle Biosciences in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $42.00.

Castle Biosciences Company Profile

Castle Biosciences, Inc is a molecular diagnostics company specializing in the development and commercialization of prognostic and diagnostic tests for patients with dermatologic conditions. The company's proprietary portfolio of genomic assays is designed to improve risk assessment and guide clinical decision-making for individuals with skin cancers and other skin-related diseases. By combining genomic data with advanced statistical algorithms, Castle Biosciences seeks to provide actionable insights that help physicians tailor treatment plans and monitoring strategies.

The company's flagship test, DecisionDx-Melanoma, evaluates the probability of metastasis in patients diagnosed with cutaneous melanoma, supporting more personalized surveillance and therapeutic approaches.

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