Castle Biosciences (NASDAQ:CSTL) Insider Derek Maetzold Sells 6,480 Shares

Key Points

• Insider sale: Derek Maetzold sold 6,480 Castle Biosciences shares for approximately $195,372 under a pre-arranged Rule 10b5-1 plan, reducing his position by 23.18% to 21,479 shares.
• Quarterly performance: Castle Biosciences reported a quarterly loss of $0.07 per share, beating estimates by $0.34, while revenue of $99.86 million exceeded analyst expectations of $86.23 million.
• Market outlook: Shares recently traded at $31.15, while analysts maintain a “Moderate Buy” consensus with an average price target of $42.00; institutional investors own 92.60% of the company.

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) insider Derek Maetzold sold 6,480 shares of the business's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $30.15, for a total transaction of $195,372.00. Following the sale, the insider owned 21,479 shares of the company's stock, valued at approximately $647,591.85. The trade was a 23.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Stock Performance

Shares of NASDAQ:CSTL traded up $0.76 on Tuesday, reaching $31.15. 627,364 shares of the company's stock were exchanged, compared to its average volume of 403,923. The business's 50-day moving average is $22.97 and its two-hundred day moving average is $26.37. The company has a quick ratio of 5.85, a current ratio of 6.04 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a fifty-two week low of $17.72 and a fifty-two week high of $44.28. The firm has a market capitalization of $944.78 million, a price-to-earnings ratio of -47.20 and a beta of 0.98.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.34. Castle Biosciences had a negative net margin of 5.43% and a negative return on equity of 4.15%. The business had revenue of $99.86 million during the quarter, compared to analyst estimates of $86.23 million. As a group, equities research analysts forecast that Castle Biosciences, Inc. will post -1.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CSTL. BTIG Research raised their price target on Castle Biosciences from $40.00 to $44.00 and gave the stock a "buy" rating in a report on Monday. Zacks Research lowered Castle Biosciences from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Canaccord Genuity Group dropped their target price on Castle Biosciences from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, April 20th. Weiss Ratings upgraded Castle Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday. Finally, Wall Street Zen raised shares of Castle Biosciences from a "sell" rating to a "hold" rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $42.00.

Institutional Investors Weigh In On Castle Biosciences

Several large investors have recently made changes to their positions in the company. Summit Partners Public Asset Management LLC grew its position in Castle Biosciences by 164.7% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company's stock valued at $41,184,000 after buying an additional 658,725 shares in the last quarter. SummitTX Capital L.P. raised its position in shares of Castle Biosciences by 285.0% during the 1st quarter. SummitTX Capital L.P. now owns 67,033 shares of the company's stock worth $1,646,000 after buying an additional 49,623 shares in the last quarter. Eventide Asset Management LLC bought a new stake in shares of Castle Biosciences during the 4th quarter worth about $11,864,000. KBC Group NV acquired a new stake in shares of Castle Biosciences in the 1st quarter worth approximately $907,000. Finally, SG Americas Securities LLC lifted its stake in shares of Castle Biosciences by 1,051.8% in the 1st quarter. SG Americas Securities LLC now owns 244,886 shares of the company's stock worth $6,012,000 after acquiring an additional 223,624 shares during the period. Institutional investors and hedge funds own 92.60% of the company's stock.

About Castle Biosciences

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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