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 the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $24.72, for a total transaction of $58,536.96. Following 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 filing with the Securities & Exchange Commission, which is available at the SEC website.

Castle Biosciences Stock Down 1.1 %

Shares of CSTL stock traded down $0.26 during trading hours on Wednesday, hitting $23.54. 267,431 shares of the company’s stock traded hands, compared to its average volume of 241,626. The stock’s fifty day simple moving average is $20.83 and its two-hundred day simple moving average is $20.59. Castle Biosciences, Inc. has a 12-month low of $9.26 and a 12-month high of $26.70. The stock has a market cap of $649.94 million, a price-to-earnings ratio of -20.47 and a beta of 0.93. The company has a quick ratio of 9.02, a current ratio of 9.25 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last released its earnings results on Wednesday, February 28th. The company reported ($0.10) earnings per share (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 firm had revenue of $66.12 million during the quarter, compared to analyst estimates of $51.32 million. On average, analysts expect that Castle Biosciences, Inc. will post -2.41 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on CSTL. Scotiabank raised their price objective on shares of Castle Biosciences from $33.00 to $37.00 and gave the stock a “sector outperform” rating in a report on Friday, March 1st. KeyCorp raised their price objective on shares of Castle Biosciences from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Finally, Robert W. Baird raised their price objective on shares of Castle Biosciences from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd.

Hedge Funds Weigh In On Castle Biosciences

Several large investors have recently made changes to their positions in CSTL. Deerfield Management Company L.P. Series C purchased a new position in shares of Castle Biosciences during the third quarter valued at approximately $15,988,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Castle Biosciences by 112.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 547,403 shares of the company’s stock valued at $9,246,000 after purchasing an additional 289,252 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of Castle Biosciences during the third quarter valued at approximately $2,885,000. Intrinsic Edge Capital Management LLC increased its position in shares of Castle Biosciences by 108.8% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 326,270 shares of the company’s stock valued at $7,041,000 after acquiring an additional 170,000 shares in the last quarter. Finally, Parkman Healthcare Partners LLC increased its position in shares of Castle Biosciences by 59.0% during the fourth quarter. Parkman Healthcare Partners LLC now owns 357,156 shares of the company’s stock valued at $7,707,000 after acquiring an additional 132,564 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

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.