Insider Selling: Castle Biosciences (NASDAQ:CSTL) COO Sells $426,257.28 in Stock

Key Points

• Castle Biosciences COO Kristen Oelschlager sold 12,384 shares for $426,257 at an average price of $34.42, reducing her direct ownership by 14.56% to 72,649 shares.
• The stock fell 2.6% to $34.08, while the company’s latest quarterly results beat expectations: revenue reached $99.86 million and adjusted earnings per share were a $0.07 loss versus the expected $0.41 loss.
• Analysts maintain a “Moderate Buy” consensus with a $42 price target, and institutional investors own 92.60% of the company’s shares.

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) COO Kristen Oelschlager sold 12,384 shares of the firm's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $34.42, for a total transaction of $426,257.28. Following the sale, the chief operating officer directly owned 72,649 shares of the company's stock, valued at approximately $2,500,578.58. The trade was a 14.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Castle Biosciences Stock Down 2.6%

Castle Biosciences stock traded down $0.92 during midday trading on Wednesday, hitting $34.08. 456,261 shares of the stock were exchanged, compared to its average volume of 406,528. Castle Biosciences, Inc. has a 1 year low of $17.72 and a 1 year high of $44.28. The firm has a market cap of $1.04 billion, a P/E ratio of -51.64 and a beta of 0.98. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.04 and a quick ratio of 5.85. The company has a 50 day moving average price of $26.45 and a two-hundred day moving average price of $25.39.

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

Analyst Ratings Changes

A number of research analysts recently commented on the company. Robert W. Baird set a $36.00 price target on Castle Biosciences in a report on Friday, July 31st. Weiss Ratings raised Castle Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, July 31st. Roth Capital began coverage on Castle Biosciences in a research note on Wednesday, June 24th. They set a "buy" rating and a $40.00 target price for the company. Zacks Research downgraded shares of Castle Biosciences from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Finally, Wall Street Zen raised shares of Castle Biosciences from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. One investment 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 issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Truist Financial Corp raised its holdings in shares of Castle Biosciences by 1.1% during the fourth quarter. Truist Financial Corp now owns 23,628 shares of the company's stock valued at $919,000 after buying an additional 257 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Castle Biosciences by 26.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,418 shares of the company's stock valued at $55,000 after acquiring an additional 297 shares during the period. CWM LLC boosted its position in Castle Biosciences by 20.5% during the 4th quarter. CWM LLC now owns 2,302 shares of the company's stock worth $90,000 after acquiring an additional 391 shares during the period. HRT Financial LP grew its stake in shares of Castle Biosciences by 0.9% in the fourth quarter. HRT Financial LP now owns 47,654 shares of the company's stock worth $1,853,000 after purchasing an additional 415 shares in the last quarter. Finally, Assetmark Inc. grew its stake in shares of Castle Biosciences by 9.3% in the first quarter. Assetmark Inc. now owns 5,779 shares of the company's stock worth $142,000 after purchasing an additional 492 shares in the last quarter. Institutional investors own 92.60% of the company's stock.

Castle Biosciences Company Profile

Castle Biosciences, Inc is a molecular diagnostics company specializing in the development and commercialization of prognostic and diagnostic tests for patients with dermatologic conditions. The company's proprietary portfolio of genomic assays is designed to improve risk assessment and guide clinical decision-making for individuals with skin cancers and other skin-related diseases. By combining genomic data with advanced statistical algorithms, Castle Biosciences seeks to provide actionable insights that help physicians tailor treatment plans and monitoring strategies.

The company's flagship test, DecisionDx-Melanoma, evaluates the probability of metastasis in patients diagnosed with cutaneous melanoma, supporting more personalized surveillance and therapeutic approaches.

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