Castle Biosciences (NASDAQ:CSTL) COO Sells $177,836.77 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) COO Kristen Oelschlager sold 8,587 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $20.71, for a total value of $177,836.77. Following the completion of the transaction, the chief operating officer directly owned 30,460 shares of the company’s stock, valued at $630,826.60. The trade was a 21.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Stock Performance

Shares of CSTL stock opened at $21.12 on Friday. The stock’s fifty day moving average is $21.74 and its two-hundred day moving average is $29.71. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.53 and a current ratio of 6.75. The firm has a market capitalization of $640.57 million, a P/E ratio of -48.00 and a beta of 1.04. Castle Biosciences, Inc. has a fifty-two week low of $14.59 and a fifty-two week high of $44.28.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.49) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.49). Castle Biosciences had a negative return on equity of 2.77% and a negative net margin of 3.78%.The company had revenue of $84.23 million for the quarter, compared to analyst estimates of $79.23 million. Research analysts expect that Castle Biosciences, Inc. will post -1.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CSTL. Canaccord Genuity Group reduced their price objective on shares of Castle Biosciences from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Robert W. Baird lowered their target price on shares of Castle Biosciences from $44.00 to $43.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Wall Street Zen cut shares of Castle Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Morgan Stanley raised shares of Castle Biosciences to a “buy” rating in a research note on Monday, March 2nd. Finally, KeyCorp set a $35.00 price objective on shares of Castle Biosciences in a report on Friday, May 29th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.83.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Summit Partners Public Asset Management LLC lifted its stake in Castle Biosciences by 164.7% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company’s stock worth $41,184,000 after purchasing an additional 658,725 shares during the last quarter. Portolan Capital Management LLC increased its stake in Castle Biosciences by 1.7% in the third quarter. Portolan Capital Management LLC now owns 1,515,111 shares of the company’s stock valued at $34,499,000 after purchasing an additional 25,539 shares during the last quarter. Eventide Asset Management LLC acquired a new stake in Castle Biosciences during the fourth quarter worth approximately $11,864,000. Dynamic Technology Lab Private Ltd acquired a new stake in Castle Biosciences during the third quarter worth approximately $667,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Castle Biosciences during the 3rd quarter worth approximately $315,000. 92.60% of the stock is owned by institutional investors and hedge funds.

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.