Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Sells $51,385.60 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) insider Derek J. Maetzold sold 2,368 shares of the company's stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $21.70, for a total transaction of $51,385.60. Following the completion of the sale, the insider now directly owns 67,365 shares in the company, valued at approximately $1,461,820.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Castle Biosciences Stock Down 2.0 %

Shares of NASDAQ CSTL traded down $0.42 during midday trading on Friday, reaching $20.82. 154,355 shares of the company were exchanged, compared to its average volume of 253,089. The stock has a market cap of $571.51 million, a P/E ratio of -9.64 and a beta of 0.93. The stock's 50-day moving average price is $22.29 and its 200-day moving average price is $19.62. Castle Biosciences, Inc. has a one year low of $9.26 and a one year high of $26.70.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($0.84) by $0.74. Castle Biosciences had a negative return on equity of 14.92% and a negative net margin of 26.15%. The company had revenue of $66.12 million for the quarter, compared to analyst estimates of $51.32 million. On average, equities research analysts anticipate that Castle Biosciences, Inc. will post -2.41 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CSTL. BluePath Capital Management LLC acquired a new stake in Castle Biosciences in the third quarter worth $31,000. Royal Bank of Canada boosted its position in shares of Castle Biosciences by 40.5% during the 2nd quarter. Royal Bank of Canada now owns 2,880 shares of the company's stock worth $39,000 after purchasing an additional 830 shares in the last quarter. O Dell Group LLC acquired a new stake in shares of Castle Biosciences in the 4th quarter valued at about $44,000. Tower Research Capital LLC TRC raised its stake in Castle Biosciences by 61.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,821 shares of the company's stock worth $47,000 after buying an additional 691 shares during the period. Finally, Osaic Holdings Inc. raised its stake in Castle Biosciences by 37.2% during the 2nd quarter. Osaic Holdings Inc. now owns 3,626 shares of the company's stock worth $50,000 after buying an additional 984 shares during the period. 92.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CSTL has been the subject of several research reports. Scotiabank lifted their target price on Castle Biosciences from $33.00 to $37.00 and gave the company a "sector outperform" rating in a research note on Friday, March 1st. Guggenheim started coverage on shares of Castle Biosciences in a research note on Thursday, December 14th. They issued a "buy" rating and a $25.00 target price for the company. Finally, KeyCorp raised their price target on shares of Castle Biosciences from $25.00 to $28.00 and gave the stock an "overweight" rating in a research note on Friday, March 1st.

About Castle Biosciences

Castle Biosciences, Inc, a molecular diagnostics company, provides testing solutions for the diagnosis and treatment of dermatologic cancers, Barrett's esophagus, uveal melanoma, and mental health conditions. It offers DecisionDx-Melanoma, a risk stratification gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma; DecisionDx-SCC, a proprietary risk stratification GEP test for patients with cutaneous squamous cell carcinoma; MyPath Melanoma, a test used for patients with difficult-to-diagnose melanocytic lesions; and TissueCypher, a spatial omics test to predict future development of high-grade dysplasia and/or esophageal cancer in patients with non-dysplastic, indefinite dysplasia, or low-grade dysplasia Barrett's esophagus.