Insider Selling: Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Sells 1,236 Shares of Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 1,236 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $20.30, for a total value of $25,090.80. Following the sale, the insider now directly owns 77,099 shares in the company, valued at $1,565,109.70. This trade represents a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Castle Biosciences Stock Performance

CSTL opened at $19.94 on Friday. The company’s 50 day moving average is $24.19 and its 200 day moving average is $28.01. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. The company has a market cap of $558.46 million, a price-to-earnings ratio of 99.70 and a beta of 0.98. Castle Biosciences, Inc. has a 12-month low of $16.97 and a 12-month high of $35.84.

Wall Street Analysts Forecast Growth

CSTL has been the topic of several research analyst reports. Guggenheim set a $30.00 price target on shares of Castle Biosciences and gave the company a “buy” rating in a report on Friday. Robert W. Baird increased their price objective on shares of Castle Biosciences from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Finally, Stephens reaffirmed an “overweight” rating and issued a $41.00 target price on shares of Castle Biosciences in a research report on Thursday, January 2nd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $38.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CSTL. Wellington Management Group LLP purchased a new stake in shares of Castle Biosciences in the 4th quarter worth $19,244,000. Mackenzie Financial Corp bought a new stake in Castle Biosciences during the fourth quarter valued at about $560,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Castle Biosciences by 18.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 66,018 shares of the company’s stock worth $1,759,000 after buying an additional 10,486 shares during the period. Two Sigma Advisers LP purchased a new position in shares of Castle Biosciences during the 4th quarter valued at about $306,000. Finally, Point72 Asset Management L.P. grew its stake in shares of Castle Biosciences by 9.6% during the 4th quarter. Point72 Asset Management L.P. now owns 547,104 shares of the company’s stock valued at $14,580,000 after acquiring an additional 47,912 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.

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.