Castle Biosciences (NASDAQ:CSTL) Shares Gap Down on Insider Selling

Castle Biosciences, Inc. (NASDAQ:CSTL) gapped down before the market opened on Friday following insider selling activity. The stock had previously closed at $25.10, but opened at $23.59. Castle Biosciences shares last traded at $23.72, with a volume of 8,314 shares.

Specifically, insider Derek J. Maetzold sold 3,622 shares of Castle Biosciences stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $25.10, for a total value of $90,912.20. Following the sale, the insider owned 2,502 shares of the company’s stock, valued at approximately $62,800.20. This trade represents a 59.14% decrease in their position. The transaction was disclosed in a legal 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.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CSTL shares. KeyCorp restated an “overweight” rating and set a $50.00 price objective on shares of Castle Biosciences in a research report on Thursday, January 29th. Guggenheim increased their price objective on shares of Castle Biosciences from $43.00 to $47.00 and gave the company a “buy” rating in a report on Monday, January 26th. Lake Street Capital lifted their target price on shares of Castle Biosciences from $35.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Weiss Ratings reissued a “sell (d)” rating on shares of Castle Biosciences in a research note on Monday, December 29th. Finally, Morgan Stanley upgraded shares of Castle Biosciences to a “buy” rating in a research report on Monday, March 2nd. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Castle Biosciences currently has an average rating of “Moderate Buy” and an average target price of $46.14.

Castle Biosciences Price Performance

The company has a 50-day moving average of $26.46 and a 200 day moving average of $31.97. The company has a quick ratio of 5.11, a current ratio of 5.26 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $741.14 million, a PE ratio of -28.78 and a beta of 1.18.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.15. Castle Biosciences had a negative return on equity of 0.89% and a negative net margin of 7.02%.The company had revenue of $81.88 million for the quarter, compared to analyst estimates of $81.19 million. Sell-side analysts predict that Castle Biosciences, Inc. will post -1.4 EPS for the current year.

Hedge Funds Weigh In On Castle Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of the business. Federated Hermes Inc. acquired a new position in Castle Biosciences during the fourth quarter worth about $26,000. Farther Finance Advisors LLC raised its holdings in Castle Biosciences by 139,100.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,392 shares of the company’s stock valued at $32,000 after acquiring an additional 1,391 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Castle Biosciences in the 3rd quarter worth approximately $35,000. Kemnay Advisory Services Inc. purchased a new position in Castle Biosciences in the 4th quarter worth approximately $35,000. Finally, CWM LLC boosted its holdings in shares of Castle Biosciences by 80.6% during the 3rd quarter. CWM LLC now owns 1,911 shares of the company’s stock worth $44,000 after purchasing an additional 853 shares during the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Castle Biosciences Company Profile

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.