Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) insider Tobin Juvenal sold 1,730 shares of Castle Biosciences stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $28.25, for a total value of $48,872.50. Following the sale, the insider directly owned 78,995 shares in the company, valued at $2,231,608.75. The trade was a 2.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Castle Biosciences Stock Performance
CSTL stock opened at $31.18 on Wednesday. The company has a 50-day simple moving average of $23.20 and a 200 day simple moving average of $26.30. The company has a market capitalization of $952.55 million, a P/E ratio of -47.24 and a beta of 0.98. The company has a quick ratio of 5.85, a current ratio of 6.04 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a fifty-two week low of $17.72 and a fifty-two week high of $44.28.
Castle Biosciences (NASDAQ:CSTL - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.34. Castle Biosciences had a negative net margin of 5.43% and a negative return on equity of 4.15%. The firm had revenue of $99.86 million for the quarter, compared to analysts' expectations of $86.23 million. Sell-side analysts predict that Castle Biosciences, Inc. will post -1.29 earnings per share for the current fiscal year.
Key Headlines Impacting Castle Biosciences
Here are the key news stories impacting Castle Biosciences this week:
- Positive Sentiment: BTIG raised its price target to $44 from $40 and maintained a “buy” rating. The new target implies approximately 41% upside from the referenced share price, signaling continued confidence in Castle Biosciences’ growth outlook and diagnostic-testing business. BTIG raises Castle Biosciences price target
- Neutral Sentiment: A recent report highlighted an update involving Castle Biosciences’ diagnostics business, attracting attention among healthcare investors. The available information does not provide enough detail to determine whether the update materially changes revenue or earnings expectations. Castle Biosciences diagnostics update
- Negative Sentiment: Insiders reported substantial selling activity. Derek J. Maetzold sold 28,646 shares for roughly $867,000 across July 31 and August 3, while Tobin W. Juvenal sold 19,040 shares for approximately $556,000. The transactions reduced their reported holdings, which could raise concerns about insider conviction. However, all sales were executed under pre-arranged Rule 10b5-1 trading plans, making them a weaker bearish signal than discretionary open-market selling. Castle Biosciences insider sales filing
Institutional Trading of Castle Biosciences
A number of hedge funds and other institutional investors have recently made changes to their positions in CSTL. Truist Financial Corp lifted its stake in Castle Biosciences by 1.1% during the fourth quarter. Truist Financial Corp now owns 23,628 shares of the company's stock valued at $919,000 after purchasing an additional 257 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Castle Biosciences by 2.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 13,432 shares of the company's stock valued at $523,000 after buying an additional 261 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Castle Biosciences by 26.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,418 shares of the company's stock worth $55,000 after purchasing an additional 297 shares during the period. CWM LLC lifted its holdings in shares of Castle Biosciences by 20.5% during the fourth quarter. CWM LLC now owns 2,302 shares of the company's stock valued at $90,000 after purchasing an additional 391 shares during the last quarter. Finally, HRT Financial LP lifted its holdings in shares of Castle Biosciences by 0.9% during the fourth quarter. HRT Financial LP now owns 47,654 shares of the company's stock valued at $1,853,000 after purchasing an additional 415 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
CSTL has been the topic of several recent analyst reports. Canaccord Genuity Group dropped their target price on Castle Biosciences from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, April 20th. Wall Street Zen raised Castle Biosciences from a "sell" rating to a "hold" rating in a research note on Saturday. KeyCorp set a $35.00 price target on Castle Biosciences in a research report on Friday, May 29th. Zacks Research downgraded Castle Biosciences from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 26th. Finally, Robert W. Baird set a $36.00 price objective on Castle Biosciences in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $42.00.
Check Out Our Latest Stock Analysis on CSTL
About Castle Biosciences
(
Get Free Report)
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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