Insider Selling: Castle Biosciences (NASDAQ:CSTL) COO Sells 4,153 Shares of Company Stock

Key Points

• Castle Biosciences COO Kristen Oelschlager sold 4,153 shares for approximately $149,300 at an average price of $35.95, reducing her stake by 23.72%. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
• Castle Biosciences shares rose 3.1% to $36.65, while the company reported quarterly revenue of $99.86 million and an adjusted loss of $0.07 per share, beating analyst expectations.
• Analysts maintain a consensus “Moderate Buy” rating with a $42.00 price target, and institutional investors own 92.6% of the company’s outstanding shares.

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) COO Kristen Oelschlager sold 4,153 shares of Castle Biosciences stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $35.95, for a total value of $149,300.35. Following the transaction, the chief operating officer owned 13,356 shares of the company's stock, valued at $480,148.20. The trade was a 23.72% decrease in their position. The sale was disclosed in a legal 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 Stock Up 3.1%

Shares of NASDAQ:CSTL traded up $1.09 during trading on Monday, reaching $36.65. 377,209 shares of the stock traded hands, compared to its average volume of 397,430. The stock has a 50-day moving average of $32.49 and a two-hundred day moving average of $26.27. Castle Biosciences, Inc. has a 52-week low of $17.72 and a 52-week high of $44.28. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.85 and a current ratio of 6.04. The stock has a market cap of $1.12 billion, a P/E ratio of -55.53 and a beta of 0.94.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.07) EPS for the quarter, topping 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 firm had revenue of $99.86 million during the quarter, compared to analyst estimates of $86.23 million. As a group, sell-side analysts expect that Castle Biosciences, Inc. will post -1.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CSTL shares. 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. Wall Street Zen raised shares of Castle Biosciences from a "hold" rating to a "buy" rating in a report on Saturday, September 26th. Roth Capital began coverage on shares of Castle Biosciences in a research report on Wednesday, June 24th. They set a "buy" rating and a $40.00 target price for the company. Weiss Ratings raised shares of Castle Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, July 31st. Finally, Robert W. Baird set a $36.00 price target on shares of Castle Biosciences in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.00.

Institutional Trading of Castle Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Castle Biosciences in the 2nd quarter valued at about $78,513,000. Summit Partners Public Asset Management LLC increased its stake in Castle Biosciences by 164.7% during 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 acquiring an additional 658,725 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in Castle Biosciences during the second quarter valued at approximately $15,440,000. Renaissance Technologies LLC raised its position in Castle Biosciences by 8.1% during the first quarter. Renaissance Technologies LLC now owns 532,800 shares of the company's stock valued at $13,080,000 after purchasing an additional 39,700 shares during the period. Finally, AIGH Capital Management LLC purchased a new stake in Castle Biosciences during the second quarter valued at approximately $13,001,000. 92.60% of the stock is currently owned by institutional investors.

Castle Biosciences Company Profile

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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