Castle Biosciences (NASDAQ:CSTL) Insider Tobin Juvenal Sells 3,288 Shares of Company Stock

Key Points

• Insider sale: Tobin Juvenal sold 3,288 Castle Biosciences shares for approximately $108,767 under a pre-arranged Rule 10b5-1 plan, reducing his holdings by 6.75% to 45,431 shares.
• Stock performance and results: CSTL shares rose 6.3% to $36.68, while the company’s latest quarterly results beat expectations with an adjusted loss of $0.07 per share and revenue of $99.86 million.
• Analyst outlook: Castle Biosciences has a consensus “Moderate Buy” rating and a $42 average price target, although analyst opinions range from Strong Buy to Sell. Institutional investors own approximately 92.6% of the stock.

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) insider Tobin Juvenal sold 3,288 shares of the firm's stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $33.08, for a total value of $108,767.04. Following the sale, the insider directly owned 45,431 shares in the company, valued at approximately $1,502,857.48. The trade was a 6.75% decrease in their position. The sale was disclosed in a 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 Up 6.3%

CSTL traded up $2.17 on Wednesday, hitting $36.68. The company had a trading volume of 431,159 shares, compared to its average volume of 391,490. The stock has a fifty day moving average price of $33.86 and a 200-day moving average price of $28.71. 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, Inc. has a 12-month low of $17.72 and a 12-month high of $44.28. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -55.58 and a beta of 0.94.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $99.86 million during the quarter, compared to analysts' expectations of $86.23 million. Analysts predict that Castle Biosciences, Inc. will post -1.29 EPS for the current fiscal year.

Institutional Trading of Castle Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the business. NFSG Corp acquired a new stake in shares of Castle Biosciences in the third quarter worth $36,000. Global Retirement Partners LLC acquired a new position in Castle Biosciences during the second quarter valued at $26,000. Quantbot Technologies LP acquired a new position in Castle Biosciences during the second quarter valued at $62,000. State of Wyoming acquired a new position in Castle Biosciences during the second quarter valued at $117,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in Castle Biosciences by 15.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,574 shares of the company's stock valued at $194,000 after purchasing an additional 747 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CSTL shares. Weiss Ratings upgraded Castle Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, July 31st. Wall Street Zen lowered Castle Biosciences from a "buy" rating to a "hold" rating in a research note on Saturday. BTIG Research upped their price objective 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, Robert W. Baird set a $36.00 price objective on shares of Castle Biosciences in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $42.00.

About Castle Biosciences

Castle Biosciences, Inc is a molecular diagnostics company that develops and commercializes tests designed to help physicians diagnose cancer, assess disease risk and guide treatment decisions. The company focuses on conditions in which additional biological information can complement traditional pathology and clinical assessment.

Its portfolio includes DecisionDx-Melanoma, which helps evaluate the risk of metastatic recurrence in patients with cutaneous melanoma; DecisionDx-SCC, which assesses metastatic risk in cutaneous squamous cell carcinoma; and DecisionDx-UM, a test for determining metastatic risk in uveal melanoma.

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