Castle Biosciences (NASDAQ:CSTL) Insider Tobin Juvenal Sells 5,543 Shares of Stock

Key Points

• Insider sale: Tobin Juvenal sold 5,543 Castle Biosciences shares for approximately $196,777 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 9.46% to 53,041 shares.
• Financial performance: Castle Biosciences reported quarterly revenue of $99.86 million and an adjusted loss of $0.07 per share, beating analyst estimates of $86.23 million in revenue and a $0.41 loss per share.
• Analyst sentiment: Analysts maintain a “Moderate Buy” consensus, with an average price target of $42.00 versus the recent share price of $35.26; institutional investors own 92.60% of the company.

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) insider Tobin Juvenal sold 5,543 shares of the company's stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $35.50, for a total value of $196,776.50. Following the completion of the transaction, the insider owned 53,041 shares of the company's stock, valued at $1,882,955.50. The trade was a 9.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Price Performance

Shares of NASDAQ CSTL traded down $0.27 during trading hours on Thursday, reaching $35.26. 522,288 shares of the stock traded hands, compared to its average volume of 398,525. The company has a market capitalization of $1.08 billion, a P/E ratio of -53.42 and a beta of 0.99. The company has a quick ratio of 5.85, a current ratio of 6.04 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a 52-week low of $17.72 and a 52-week high of $44.28. The company's 50-day simple moving average is $32.08 and its two-hundred day simple moving average is $26.14.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates 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%. Equities research analysts forecast that Castle Biosciences, Inc. will post -1.29 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CSTL. Assetmark Inc. grew its stake in shares of Castle Biosciences by 9.3% in the 1st quarter. Assetmark Inc. now owns 5,779 shares of the company's stock worth $142,000 after buying an additional 492 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Castle Biosciences by 140.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,750 shares of the company's stock valued at $68,000 after buying an additional 1,022 shares during the last quarter. Global Retirement Partners LLC purchased a new position in Castle Biosciences during the second quarter valued at $26,000. Summit Global Investments boosted its holdings in Castle Biosciences by 10.9% in the first quarter. Summit Global Investments now owns 13,718 shares of the company's stock worth $337,000 after acquiring an additional 1,353 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Castle Biosciences by 0.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 160,663 shares of the company's stock worth $3,944,000 after acquiring an additional 1,492 shares in the last quarter. Institutional investors own 92.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CSTL. Weiss Ratings raised shares of Castle Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, July 31st. Roth Capital assumed coverage on shares of Castle Biosciences in a research note on Wednesday, June 24th. They issued a "buy" rating and a $40.00 price target for the company. 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 research report on Monday, August 3rd. Robert W. Baird set a $36.00 price objective on Castle Biosciences in a research note on Friday, July 31st. Finally, Wall Street Zen raised Castle Biosciences from a "hold" rating to a "buy" rating in a research note on Saturday, September 26th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $42.00.

Castle Biosciences Company Profile

Castle Biosciences, Inc is a molecular diagnostics company that develops and commercializes tests designed to help physicians make more informed decisions about cancer diagnosis and treatment. Its products use genomic and molecular information to assess disease characteristics, patient risk and likely outcomes.

The company's portfolio includes DecisionDx-Melanoma, which helps assess the risk of metastasis in patients with cutaneous melanoma; DecisionDx-SCC, which evaluates metastatic risk in certain patients with cutaneous squamous cell carcinoma; and MyPath Melanoma, which assists in distinguishing benign from malignant melanocytic lesions.

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