Castle Biosciences (NASDAQ:CSTL) Insider Sells $90,912.20 in Stock

Key Points

• Insider sold: Derek Maetzold sold 3,622 shares on April 21 at $25.10 for $90,912.20 under a pre-arranged Rule 10b5-1 plan, reducing his holding by 59.14% to 2,502 shares.
• Mixed fundamentals and stock action: Castle reported a quarterly EPS of ($0.08) beating estimates of ($0.23) with $81.88M in revenue but remains loss-making (negative P/E); the stock traded at $23.69, below its 50‑ and 200‑day moving averages.
• Heavy institutional ownership and analyst outlook: Institutions own 92.6% of the shares with recent large stakes from RTW and Summit Partners, and analysts show a consensus Moderate Buy rating with an average price target of $46.14.

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) insider Derek Maetzold sold 3,622 shares of the stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $25.10, for a total value of $90,912.20. Following the transaction, the insider directly owned 2,502 shares of the company's stock, valued at approximately $62,800.20. The trade was a 59.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Price Performance

Castle Biosciences stock traded down $1.41 during midday trading on Thursday, reaching $23.69. 259,204 shares of the stock traded hands, compared to its average volume of 378,835. The stock's fifty day moving average is $26.80 and its 200-day moving average is $32.02. Castle Biosciences, Inc. has a 12 month low of $14.59 and a 12 month high of $44.28. The stock has a market cap of $717.71 million, a P/E ratio of -27.87 and a beta of 1.18. The company has a quick ratio of 5.11, a current ratio of 5.26 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.08) EPS for the quarter, beating analysts' consensus estimates of ($0.23) by $0.15. Castle Biosciences had a negative return on equity of 0.89% and a negative net margin of 7.02%.The company had revenue of $81.88 million during the quarter, compared to analyst estimates of $81.19 million. As a group, equities research analysts anticipate that Castle Biosciences, Inc. will post -1.4 EPS for the current year.

Institutional Investors Weigh In On Castle Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of CSTL. RTW Investments LP purchased a new stake in shares of Castle Biosciences in the fourth quarter worth approximately $82,283,000. AIGH Capital Management LLC purchased a new stake in shares of Castle Biosciences in the third quarter worth approximately $16,105,000. Summit Partners Public Asset Management LLC raised its holdings 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 worth $41,184,000 after buying an additional 658,725 shares during the period. Eventide Asset Management LLC purchased a new stake in shares of Castle Biosciences in the fourth quarter worth approximately $11,864,000. Finally, SG Americas Securities LLC raised its holdings in shares of Castle Biosciences by 1,051.8% in the first quarter. SG Americas Securities LLC now owns 244,886 shares of the company's stock worth $6,012,000 after buying an additional 223,624 shares during the period. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on CSTL. Canaccord Genuity Group decreased their price objective on Castle Biosciences from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday. Zacks Research downgraded Castle Biosciences from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 2nd. Guggenheim upped their price objective on Castle Biosciences from $43.00 to $47.00 and gave the company a "buy" rating in a research report on Monday, January 26th. Robert W. Baird upped their price objective on Castle Biosciences from $41.00 to $44.00 and gave the company an "outperform" rating in a research report on Friday, February 27th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Castle Biosciences in a research report on Monday, December 29th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Castle Biosciences presently has an average rating of "Moderate Buy" and a consensus price target of $46.14.

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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