Castle Biosciences, Inc. (NASDAQ:CSTL) CFO Sells $207,205.39 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) CFO Frank Stokes sold 6,923 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $29.93, for a total transaction of $207,205.39. Following the completion of the sale, the chief financial officer now directly owns 30,823 shares of the company’s stock, valued at approximately $922,532.39. This trade represents a 18.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Castle Biosciences Trading Up 1.5 %

CSTL opened at $28.88 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78. The stock’s 50 day moving average price is $31.01 and its 200-day moving average price is $26.42. Castle Biosciences, Inc. has a one year low of $16.97 and a one year high of $35.84. The stock has a market cap of $808.93 million, a price-to-earnings ratio of 144.41 and a beta of 0.99.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.14. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The firm had revenue of $85.78 million for the quarter, compared to analysts’ expectations of $78.55 million. During the same period in the prior year, the business posted ($0.26) earnings per share. On average, equities analysts forecast that Castle Biosciences, Inc. will post -0.08 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC boosted its holdings in shares of Castle Biosciences by 54.4% in the 3rd quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock valued at $123,000 after buying an additional 1,522 shares in the last quarter. US Bancorp DE raised its holdings in shares of Castle Biosciences by 1,889.2% in the third quarter. US Bancorp DE now owns 4,615 shares of the company’s stock worth $132,000 after buying an additional 4,383 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Castle Biosciences during the third quarter valued at $140,000. Assetmark Inc. increased its position in shares of Castle Biosciences by 16.8% in the 3rd quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock valued at $149,000 after acquiring an additional 748 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of Castle Biosciences by 64.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock worth $152,000 after purchasing an additional 2,093 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Wall Street Analysts Forecast Growth

CSTL has been the topic of a number of recent analyst reports. Robert W. Baird raised their price target on Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. KeyCorp lifted their target price on Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group increased their price objective on shares of Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. BTIG Research lifted their price objective on shares of Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Scotiabank upped their target price on shares of Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 6th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $37.88.

Castle Biosciences Company Profile

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.