Insider Selling: Castle Biosciences (NASDAQ:CSTL) CFO Sells 6,001 Shares of Stock

Key Points

• CFO Frank Stokes sold 6,001 shares on March 5 at an average price of $27.98 (total $167,907.98) and had earlier sold 7,000 shares on March 3 at $27.44, totaling 13,001 shares for about $360,000; after the March 5 sale he owned 60,085 shares and that transaction represented a 9.08% reduction in his stake.
• Castle Biosciences shares trade near $27 (recently $27.02) with a market cap of about $803M; the company recently beat quarterly EPS and revenue estimates but remains unprofitable, while analysts’ consensus target is roughly $47.57 (majority Buy ratings).

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) CFO Frank Stokes sold 6,001 shares of the business's stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $27.98, for a total value of $167,907.98. Following the completion of the sale, the chief financial officer owned 60,085 shares of the company's stock, valued at $1,681,178.30. This trade represents a 9.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Frank Stokes also recently made the following trade(s):

• On Tuesday, March 3rd, Frank Stokes sold 7,000 shares of Castle Biosciences stock. The shares were sold at an average price of $27.44, for a total value of $192,080.00.

Castle Biosciences Stock Performance

CSTL traded down $0.10 during trading hours on Monday, hitting $27.02. 335,732 shares of the stock were exchanged, compared to its average volume of 439,870. The stock has a market cap of $803.33 million, a price-to-earnings ratio of -31.79 and a beta of 1.09. The stock has a 50-day simple moving average of $35.92 and a 200-day simple moving average of $31.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.26 and a quick ratio of 5.11. Castle Biosciences, Inc. has a 12 month low of $14.59 and a 12 month high of $44.28.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.15. The firm had revenue of $81.88 million during the quarter, compared to analyst estimates of $81.19 million. Castle Biosciences had a negative net margin of 7.02% and a negative return on equity of 0.89%. Analysts anticipate that Castle Biosciences, Inc. will post 0.44 earnings per share for the current year.

Hedge Funds Weigh In On Castle Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in CSTL. Truist Financial Corp increased 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 purchasing an additional 257 shares during the period. Harbor Capital Advisors Inc. raised its holdings in shares of Castle Biosciences by 2.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 13,432 shares of the company's stock worth $523,000 after purchasing an additional 261 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Castle Biosciences by 26.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,418 shares of the company's stock valued at $55,000 after purchasing an additional 297 shares during the last quarter. CWM LLC boosted its holdings in Castle Biosciences by 20.5% during the fourth quarter. CWM LLC now owns 2,302 shares of the company's stock worth $90,000 after buying an additional 391 shares in the last quarter. Finally, HRT Financial LP increased its holdings 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 valued at $1,853,000 after buying an additional 415 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Guggenheim increased their price objective on shares of Castle Biosciences from $43.00 to $47.00 and gave the stock a "buy" rating in a research note on Monday, January 26th. Canaccord Genuity Group increased their price target on Castle Biosciences from $37.00 to $50.00 and gave the stock a "buy" rating in a research report on Monday, December 22nd. Lake Street Capital upped their price objective on Castle Biosciences from $35.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, January 12th. Morgan Stanley raised Castle Biosciences to a "buy" rating in a research report on Monday, March 2nd. Finally, KeyCorp restated an "overweight" rating and set a $50.00 price target on shares of Castle Biosciences in a research report on Thursday, January 29th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $47.57.

About Castle Biosciences

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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