Castle Biosciences (NASDAQ:CSTL) Insider Derek J. Maetzold Sells 1,339 Shares

Key Points

• Castle Biosciences insider Derek Maetzold sold 1,339 shares for a total of $29,417.83, decreasing his ownership by 2.00%, leaving him with 65,666 shares valued at $1.44 million.
• The company's stock saw a 4.0% increase in value, reaching $24.41, with a market capitalization of $708.09 million and a current P/E ratio of -69.74.
• Castle Biosciences reported a 15 cent EPS for the recent quarter, significantly beating analysts' estimates of a loss, and expects to post 0.44 earnings per share for the current fiscal year.

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) insider Derek J. Maetzold sold 1,339 shares of Castle Biosciences stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $21.97, for a total value of $29,417.83. Following the completion of the sale, the insider directly owned 65,666 shares in the company, valued at approximately $1,442,682.02. This represents a 2.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Castle Biosciences Stock Performance

Castle Biosciences stock traded up $0.95 during midday trading on Friday, reaching $24.41. 692,026 shares of the company's stock were exchanged, compared to its average volume of 429,972. Castle Biosciences, Inc. has a 52 week low of $14.59 and a 52 week high of $35.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.69 and a current ratio of 6.85. The firm has a market cap of $708.13 million, a price-to-earnings ratio of -69.74 and a beta of 1.07. The stock's 50-day simple moving average is $20.07 and its 200 day simple moving average is $19.35.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.15 EPS for the quarter, topping analysts' consensus estimates of ($0.51) by $0.66. Castle Biosciences had a positive return on equity of 2.37% and a negative net margin of 2.73%.The business had revenue of $86.18 million during the quarter, compared to analysts' expectations of $71.53 million. Castle Biosciences has set its FY 2025 guidance at EPS. On average, analysts expect that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CSTL has been the subject of a number of research analyst reports. Zacks Research upgraded Castle Biosciences from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 27th. Wall Street Zen upgraded Castle Biosciences from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Finally, Canaccord Genuity Group restated a "buy" rating and set a $37.00 price objective on shares of Castle Biosciences in a report on Tuesday, September 9th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC raised its position in Castle Biosciences by 29.1% during the second quarter. Squarepoint Ops LLC now owns 125,719 shares of the company's stock valued at $2,567,000 after purchasing an additional 28,359 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Castle Biosciences by 256.9% during the second quarter. Tower Research Capital LLC TRC now owns 2,791 shares of the company's stock worth $57,000 after buying an additional 2,009 shares in the last quarter. Wasatch Advisors LP increased its holdings in shares of Castle Biosciences by 5.1% during the second quarter. Wasatch Advisors LP now owns 1,049,773 shares of the company's stock worth $21,436,000 after buying an additional 51,318 shares in the last quarter. Palisade Capital Management LP increased its holdings in shares of Castle Biosciences by 17.4% during the second quarter. Palisade Capital Management LP now owns 575,116 shares of the company's stock worth $11,744,000 after buying an additional 85,148 shares in the last quarter. Finally, Engineers Gate Manager LP increased its holdings in shares of Castle Biosciences by 27.1% during the second quarter. Engineers Gate Manager LP now owns 67,252 shares of the company's stock worth $1,373,000 after buying an additional 14,329 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.