Insider Selling: Castle Biosciences (NASDAQ:CSTL) Director Sells 7,403 Shares of Stock

Key Points

• Director G. Bradley Cole sold 7,403 shares on March 5 at an average price of $28.47 for about $210,763, leaving him with 19,309 shares — a 27.71% reduction in his position.
• The company beat expectations for the quarter with EPS of ($0.08) versus a consensus of ($0.23) and revenue of $81.88 million, but remains unprofitable with a negative net margin and negative return on equity.
• Analyst sentiment is largely positive — Castle has a consensus rating of Moderate Buy with a $47.57 price target after several upgrades, and institutional investors own roughly 92.6% of the stock.

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) Director G Bradley Cole sold 7,403 shares of the firm's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $28.47, for a total value of $210,763.41. Following the sale, the director directly owned 19,309 shares in the company, valued at approximately $549,727.23. This represents a 27.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Castle Biosciences Stock Down 0.4%

Shares of CSTL traded down $0.10 on Monday, hitting $27.02. The company's stock had a trading volume of 335,732 shares, compared to its average volume of 439,870. The firm's fifty day moving average price is $35.92 and its 200-day moving average price is $31.57. Castle Biosciences, Inc. has a fifty-two week low of $14.59 and a fifty-two week high of $44.28. The company has a quick ratio of 5.11, a current ratio of 5.26 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $803.33 million, a price-to-earnings ratio of -31.79 and a beta of 1.09.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its earnings results on Thursday, February 26th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.15. Castle Biosciences had a negative net margin of 7.02% and a negative return on equity of 0.89%. The firm had revenue of $81.88 million for the quarter, compared to the consensus estimate of $81.19 million. On average, equities research analysts expect that Castle Biosciences, Inc. will post 0.44 EPS for the current year.

Analyst Ratings Changes

CSTL has been the topic of several research reports. Morgan Stanley raised shares of Castle Biosciences to a "buy" rating in a research report on Monday, March 2nd. Robert W. Baird lifted their price target on Castle Biosciences from $41.00 to $44.00 and gave the company an "outperform" rating in a research note on Friday, February 27th. Weiss Ratings restated a "sell (d)" rating on shares of Castle Biosciences in a report on Monday, December 29th. KeyCorp reiterated an "overweight" rating and set a $50.00 price objective on shares of Castle Biosciences in a report on Thursday, January 29th. Finally, Guggenheim lifted their target price on Castle Biosciences from $43.00 to $47.00 and gave the company a "buy" rating in a research report on Monday, January 26th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Castle Biosciences presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.57.

Institutional Investors Weigh In On Castle Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Castle Biosciences by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 2,199,829 shares of the company's stock valued at $85,573,000 after acquiring an additional 27,511 shares in the last quarter. RTW Investments LP bought a new stake in Castle Biosciences during the fourth quarter worth about $82,283,000. Principal Financial Group Inc. boosted its position in Castle Biosciences by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,807,644 shares of the company's stock valued at $70,317,000 after purchasing an additional 13,289 shares during the last quarter. Portolan Capital Management LLC grew its stake in Castle Biosciences by 1.7% in the third quarter. Portolan Capital Management LLC now owns 1,515,111 shares of the company's stock valued at $34,499,000 after purchasing an additional 25,539 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Castle Biosciences by 7.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,474,089 shares of the company's stock valued at $33,564,000 after purchasing an additional 96,084 shares in the last quarter. 92.60% of the stock is owned by institutional investors.

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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