Castle Biosciences (NASDAQ:CSTL) Insider Derek Maetzold Sells 8,580 Shares of Company Stock

Key Points

• Insider sale: Derek Maetzold sold 8,580 Castle Biosciences shares for approximately $305,191 under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by 28.94% to 21,064 shares.
• Stock and financial performance: CSTL fell 1.1% to $33.00, while its latest quarterly results beat expectations with a loss of $0.07 per share versus the projected $0.41 loss and revenue of $99.86 million versus $86.23 million expected.
• Investor outlook: Institutional investors own 92.6% of the company, and analysts maintain a generally positive view, with a “Moderate Buy” consensus rating and an average price target of $42.00.

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) insider Derek Maetzold sold 8,580 shares of the stock in a transaction on Monday, October 5th. The stock was sold at an average price of $35.57, for a total transaction of $305,190.60. Following the transaction, the insider directly owned 21,064 shares in the company, valued at $749,246.48. The trade was a 28.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Stock Down 1.1%

NASDAQ CSTL traded down $0.36 during trading on Wednesday, hitting $33.00. 351,523 shares of the company traded hands, compared to its average volume of 398,293. Castle Biosciences, Inc. has a 12 month low of $17.72 and a 12 month high of $44.28. The business has a fifty day simple moving average of $32.92 and a 200 day simple moving average of $26.41. The company has a market capitalization of $1.01 billion, a P/E ratio of -50.00 and a beta of 0.94. The company has a current ratio of 6.04, a quick ratio of 5.85 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.34. The company had revenue of $99.86 million during the quarter, compared to the consensus estimate of $86.23 million. Castle Biosciences had a negative return on equity of 4.15% and a negative net margin of 5.43%. As a group, sell-side analysts predict that Castle Biosciences, Inc. will post -1.29 EPS for the current year.

Hedge Funds Weigh In On Castle Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of CSTL. Tidal Investments LLC bought a new stake in Castle Biosciences in the 2nd quarter valued at $529,000. Engineers Gate Manager LP increased its holdings in shares of Castle Biosciences by 61.5% during the 2nd quarter. Engineers Gate Manager LP now owns 29,480 shares of the company's stock worth $703,000 after purchasing an additional 11,224 shares during the period. Empowered Funds LLC bought a new position in shares of Castle Biosciences during the 2nd quarter worth about $3,395,000. Jefferies Financial Group Inc. acquired a new position in shares of Castle Biosciences during the second quarter valued at about $15,440,000. Finally, Bank of America Corp DE acquired a new position in shares of Castle Biosciences during the second quarter valued at about $2,355,000. Institutional investors own 92.60% of the company's stock.

Wall Street Analyst Weigh In

CSTL has been the topic of a number of recent analyst reports. Robert W. Baird set a $36.00 price target on shares of Castle Biosciences in a research report on Friday, July 31st. Wall Street Zen upgraded shares of Castle Biosciences from a "hold" rating to a "buy" rating in a research note on Saturday, September 26th. Roth Capital started coverage on shares of Castle Biosciences in a report on Wednesday, June 24th. They issued a "buy" rating and a $40.00 target price on the stock. BTIG Research upped their price target on shares of Castle Biosciences from $40.00 to $44.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Finally, Weiss Ratings raised Castle Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a research 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 issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $42.00.

About Castle Biosciences

Castle Biosciences, Inc is a molecular diagnostics company that develops and commercializes tests designed to provide personalized information for patients with cancer and other serious diseases. Its products analyze biological characteristics in tissue samples to help physicians assess disease risk, guide treatment decisions and support patient management.

The company's portfolio includes diagnostic tests for skin cancers, such as DecisionDx-Melanoma for assessing metastatic risk in patients with cutaneous melanoma and DecisionDx-SCC for evaluating metastatic risk in certain cases of cutaneous squamous cell carcinoma.

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