Tobin Juvenal Sells 3,306 Shares of Castle Biosciences (NASDAQ:CSTL) Stock

Key Points

• Insider sale: Tobin Juvenal sold 3,306 Castle Biosciences shares for approximately $106,850 under a pre-arranged Rule 10b5-1 plan, reducing his holdings by 5.07% to 61,878 shares.
• Financial performance: Castle Biosciences reported quarterly revenue of $99.86 million and an adjusted loss of $0.07 per share, beating analyst estimates for revenue and EPS. Analysts expect a full-year loss of $1.29 per share.
• Market outlook: The stock recently traded at $35.48, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $42.00. Institutional investors own 92.6% of the company.

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) insider Tobin Juvenal sold 3,306 shares of Castle Biosciences stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $32.32, for a total transaction of $106,849.92. Following the completion of the transaction, the insider directly owned 61,878 shares of the company's stock, valued at $1,999,896.96. This trade represents a 5.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Stock Performance

NASDAQ CSTL traded down $0.02 during trading hours on Wednesday, reaching $35.48. The company's stock had a trading volume of 559,268 shares, compared to its average volume of 397,261. The company has a current ratio of 6.04, a quick ratio of 5.85 and a debt-to-equity ratio of 0.02. The business has a 50-day simple moving average of $29.56 and a 200 day simple moving average of $25.54. Castle Biosciences, Inc. has a 52 week low of $17.72 and a 52 week high of $44.28. The stock has a market cap of $1.08 billion, a PE ratio of -53.76 and a beta of 0.99.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.34. Castle Biosciences had a negative return on equity of 4.15% and a negative net margin of 5.43%.The business had revenue of $99.86 million for the quarter, compared to the consensus estimate of $86.23 million. Equities research analysts predict that Castle Biosciences, Inc. will post -1.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CSTL. KeyCorp set a $35.00 price target on shares of Castle Biosciences in a report on Friday, May 29th. BTIG Research increased their price objective on shares of Castle Biosciences from $40.00 to $44.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Robert W. Baird set a $36.00 price objective on shares of Castle Biosciences in a research report on Friday, July 31st. 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, Roth Capital initiated coverage on shares of Castle Biosciences in a research note on Wednesday, June 24th. They set a "buy" rating and a $40.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $42.00.

Institutional Investors Weigh In On Castle Biosciences

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in Castle Biosciences in the 2nd quarter valued at about $78,513,000. Summit Partners Public Asset Management LLC raised its position in shares of Castle Biosciences by 164.7% during the 4th 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 in the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Castle Biosciences during the 2nd quarter worth about $15,440,000. AIGH Capital Management LLC acquired a new stake in shares of Castle Biosciences in the 2nd quarter worth approximately $13,001,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Castle Biosciences by 8.1% in the 1st quarter. Renaissance Technologies LLC now owns 532,800 shares of the company's stock worth $13,080,000 after acquiring an additional 39,700 shares during the period. Institutional investors and hedge funds own 92.60% of the company's stock.

Castle Biosciences Company Profile

Castle Biosciences, Inc is a molecular diagnostics company that develops and commercializes tests designed to help physicians make more informed decisions about cancer diagnosis and treatment. Its products use genomic and molecular information to assess disease characteristics, patient risk and likely outcomes.

The company's portfolio includes DecisionDx-Melanoma, which helps assess the risk of metastasis in patients with cutaneous melanoma; DecisionDx-SCC, which evaluates metastatic risk in certain patients with cutaneous squamous cell carcinoma; and MyPath Melanoma, which assists in distinguishing benign from malignant melanocytic lesions.

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