Derek Maetzold Sells 6,214 Shares of Castle Biosciences (NASDAQ:CSTL) Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) insider Derek Maetzold sold 6,214 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $24.29, for a total transaction of $150,938.06. Following the transaction, the insider owned 21,479 shares in the company, valued at $521,724.91. The trade was a 22.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Castle Biosciences Trading Down 1.6%

Shares of CSTL opened at $23.83 on Wednesday. The firm has a market cap of $722.76 million, a price-to-earnings ratio of -54.16 and a beta of 1.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.53 and a current ratio of 6.75. Castle Biosciences, Inc. has a fifty-two week low of $14.59 and a fifty-two week high of $44.28. The firm has a 50 day moving average price of $21.53 and a 200-day moving average price of $28.35.

Castle Biosciences (NASDAQ:CSTL) last released its earnings results on Wednesday, May 6th. The company reported ($0.49) EPS for the quarter, meeting the consensus estimate of ($0.49). The company had revenue of $84.23 million for the quarter, compared to analyst estimates of $79.23 million. Castle Biosciences had a negative net margin of 3.78% and a negative return on equity of 2.77%. As a group, equities research analysts forecast that Castle Biosciences, Inc. will post -1.56 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Castle Biosciences by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 2,199,829 shares of the company’s stock worth $85,573,000 after buying an additional 27,511 shares during the period. RTW Investments LP bought a new stake in Castle Biosciences in the fourth quarter valued at $82,283,000. Principal Financial Group Inc. increased its position in Castle Biosciences by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,807,644 shares of the company’s stock valued at $70,317,000 after purchasing an additional 13,289 shares during the period. Portolan Capital Management LLC increased its position in Castle Biosciences by 1.7% during the 3rd 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 period. Finally, Dimensional Fund Advisors LP raised its holdings in Castle Biosciences by 7.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,474,089 shares of the company’s stock worth $33,564,000 after purchasing an additional 96,084 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CSTL. Weiss Ratings downgraded Castle Biosciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Robert W. Baird dropped their target price on Castle Biosciences from $44.00 to $43.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. KeyCorp set a $35.00 price target on Castle Biosciences in a research note on Friday, May 29th. Canaccord Genuity Group lowered their price objective on Castle Biosciences from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Finally, Roth Capital initiated coverage on Castle Biosciences in a research note on Wednesday, June 24th. They set a “buy” rating and a $40.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.43.

About Castle Biosciences

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.