Derek J. Maetzold Sells 2,368 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek J. Maetzold sold 2,368 shares of Castle Biosciences stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $24.72, for a total transaction of $58,536.96. Following the completion of the sale, the insider now owns 62,629 shares of the company’s stock, valued at $1,548,188.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Castle Biosciences Stock Performance

Shares of CSTL traded down $0.26 during trading hours on Wednesday, reaching $23.54. 267,431 shares of the company traded hands, compared to its average volume of 241,626. Castle Biosciences, Inc. has a 12-month low of $9.26 and a 12-month high of $26.70. The company has a quick ratio of 9.02, a current ratio of 9.25 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $649.94 million, a P/E ratio of -20.47 and a beta of 0.93. The business has a fifty day moving average price of $20.83 and a 200-day moving average price of $20.59.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.84) by $0.74. Castle Biosciences had a negative net margin of 12.28% and a negative return on equity of 7.91%. The company had revenue of $66.12 million for the quarter, compared to analyst estimates of $51.32 million. Equities analysts anticipate that Castle Biosciences, Inc. will post -2.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Castle Biosciences

Hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP lifted its stake in shares of Castle Biosciences by 27.6% in the 3rd quarter. GSA Capital Partners LLP now owns 52,195 shares of the company’s stock valued at $882,000 after purchasing an additional 11,280 shares during the period. Walleye Capital LLC purchased a new stake in shares of Castle Biosciences during the 3rd quarter worth about $2,885,000. Deerfield Management Company L.P. Series C purchased a new stake in shares of Castle Biosciences during the 3rd quarter worth about $15,988,000. Schonfeld Strategic Advisors LLC boosted its stake in shares of Castle Biosciences by 294.4% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 148,030 shares of the company’s stock worth $2,500,000 after acquiring an additional 110,500 shares in the last quarter. Finally, Millrace Asset Group Inc. purchased a new stake in shares of Castle Biosciences during the 3rd quarter worth about $1,306,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Scotiabank lifted their price objective on shares of Castle Biosciences from $33.00 to $37.00 and gave the stock a “sector outperform” rating in a research note on Friday, March 1st. Robert W. Baird boosted their price objective on shares of Castle Biosciences from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Finally, KeyCorp boosted their price objective on shares of Castle Biosciences from $25.00 to $28.00 and gave the company an “overweight” rating in a report 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.