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

Key Points

• Insider Tobin Juvenal sold 3,288 Castle Biosciences shares for approximately $110,608 under a pre-arranged Rule 10b5-1 trading plan, reducing his position by 6.32% to 48,719 shares.
• Castle Biosciences stock rose 0.7% to $33.11, while the company’s latest quarterly results beat expectations with revenue of $99.86 million and an EPS loss of $0.07 versus the expected $0.41 loss.
• Institutional investors own 92.6% of the company, and analysts maintain a “Moderate Buy” consensus rating with a $42 average price target.

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) insider Tobin Juvenal sold 3,288 shares of Castle Biosciences stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $33.64, for a total value of $110,608.32. Following the sale, the insider owned 48,719 shares of the company's stock, valued at approximately $1,638,907.16. This represents a 6.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Trading Up 0.7%

CSTL stock traded up $0.23 during midday trading on Wednesday, hitting $33.11. The stock had a trading volume of 243,174 shares, compared to its average volume of 395,019. The firm has a market cap of $1.01 billion, a PE ratio of -50.17 and a beta of 0.94. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.04 and a quick ratio of 5.85. Castle Biosciences, Inc. has a 12-month low of $17.72 and a 12-month high of $44.28. The company's 50-day moving average price is $33.44 and its 200 day moving average price is $26.68.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $86.23 million. On average, equities research analysts predict that Castle Biosciences, Inc. will post -1.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Castle Biosciences

Several institutional investors and hedge funds have recently modified their holdings of CSTL. Green Alpha Advisors LLC raised its holdings in shares of Castle Biosciences by 39.1% during the 3rd quarter. Green Alpha Advisors LLC now owns 13,828 shares of the company's stock valued at $491,000 after buying an additional 3,887 shares during the period. Tidal Investments LLC purchased a new position in Castle Biosciences in the 2nd quarter worth approximately $529,000. Engineers Gate Manager LP boosted its holdings in Castle Biosciences by 61.5% in the 2nd quarter. Engineers Gate Manager LP now owns 29,480 shares of the company's stock worth $703,000 after acquiring an additional 11,224 shares during the period. Empowered Funds LLC acquired a new stake in Castle Biosciences in the second quarter valued at approximately $3,395,000. Finally, Jefferies Financial Group Inc. acquired a new stake in Castle Biosciences in the second quarter valued at approximately $15,440,000. Hedge funds and other institutional investors own 92.60% of the company's stock.

Analyst Ratings Changes

CSTL has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Castle Biosciences from a "hold" rating to a "buy" rating in a research report on Saturday, September 26th. BTIG Research lifted their price target on shares of Castle Biosciences from $40.00 to $44.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Roth Capital assumed coverage on shares of Castle Biosciences in a research note on Wednesday, June 24th. They set a "buy" rating and a $40.00 price objective for the company. Weiss Ratings upgraded shares of Castle Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, July 31st. Finally, Robert W. Baird set a $36.00 price objective on shares of Castle Biosciences in a research report on Friday, July 31st. One equities 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus 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 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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