Insider Selling: Castle Biosciences (NASDAQ:CSTL) Insider Sells $150,130.24 in Stock

Key Points

• Insider sale: Derek Maetzold sold 6,214 Castle Biosciences shares for $150,130 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 22.44% to 21,479 shares.
• Stock and financial performance: CSTL rose 2.4% to $24.46, while the company reported quarterly revenue of $84.23 million and a loss of $0.49 per share. Analysts expect a full-year loss of $1.56 per share.
• Analyst outlook: The stock has a “Moderate Buy” consensus rating and an average price target of $42.43, despite several recent target reductions; institutional investors own 92.6% of the company.

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) insider Derek Maetzold sold 6,214 shares of the company's stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $24.16, for a total transaction of $150,130.24. Following the transaction, the insider owned 21,479 shares in the company, valued at approximately $518,932.64. The trade was a 22.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Trading Up 2.4%

Shares of NASDAQ CSTL traded up $0.57 during mid-day trading on Wednesday, hitting $24.46. The company's stock had a trading volume of 340,082 shares, compared to its average volume of 388,052. Castle Biosciences, Inc. has a one year low of $14.59 and a one year high of $44.28. The company's fifty day simple moving average is $22.39 and its 200-day simple moving average is $26.71. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 6.53. The stock has a market cap of $741.87 million, a price-to-earnings ratio of -55.59 and a beta of 1.00.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.49) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.49). The firm had revenue of $84.23 million for the quarter, compared to analysts' expectations of $79.23 million. Castle Biosciences had a negative net margin of 3.78% and a negative return on equity of 2.77%. On average, sell-side analysts anticipate that Castle Biosciences, Inc. will post -1.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. BTIG Research dropped their price objective on Castle Biosciences from $50.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, May 13th. Roth Capital started coverage on Castle Biosciences in a report on Wednesday, June 24th. They set a "buy" rating and a $40.00 target price on the stock. Weiss Ratings lowered Castle Biosciences from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, June 1st. Zacks Research cut Castle Biosciences from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 26th. Finally, Canaccord Genuity Group cut their price target on shares of Castle Biosciences from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $42.43.

Institutional Trading of Castle Biosciences

A number of large investors have recently made changes to their positions in CSTL. RTW Investments LP acquired a new stake in shares of Castle Biosciences in the 4th quarter valued at about $82,283,000. Summit Partners Public Asset Management LLC boosted its position in shares of 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 buying an additional 658,725 shares during the period. Eventide Asset Management LLC bought a new position in shares of Castle Biosciences during the fourth quarter worth about $11,864,000. SG Americas Securities LLC grew its holdings in shares of Castle Biosciences by 1,051.8% during the first quarter. SG Americas Securities LLC now owns 244,886 shares of the company's stock worth $6,012,000 after buying an additional 223,624 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in Castle Biosciences in the 4th quarter valued at approximately $8,502,000. Institutional investors own 92.60% of the company's stock.

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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