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Insider Selling: Castle Biosciences, Inc. (NASDAQ:CSTL) Insider Sells 2,188 Shares of Stock

kopsource ·  Sep 28, 2022 17:22

Castle Biosciences, Inc. (NASDAQ:CSTL – Get Rating) insider Derek J. Maetzold sold 2,188 shares of the company's stock in a transaction on Monday, September 26th. The stock was sold at an average price of $23.93, for a total value of $52,358.84. Following the sale, the insider now owns 306,075 shares of the company's stock, valued at $7,324,374.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Castle Biosciences Stock Performance

Shares of NASDAQ CSTL traded up $2.31 during midday trading on Wednesday, hitting $26.09. The stock had a trading volume of 246,420 shares, compared to its average volume of 284,220. The stock has a 50 day simple moving average of $28.95 and a 200-day simple moving average of $27.40. Castle Biosciences, Inc. has a 1 year low of $15.58 and a 1 year high of $68.65.

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Castle Biosciences (NASDAQ:CSTL – Get Rating) last posted its earnings results on Monday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.58) by $0.52. The company had revenue of $34.84 million during the quarter, compared to analysts' expectations of $28.40 million. Castle Biosciences had a negative return on equity of 9.81% and a negative net margin of 40.37%. During the same quarter last year, the firm earned ($0.34) earnings per share. As a group, equities research analysts anticipate that Castle Biosciences, Inc. will post -2.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CSTL shares. SVB Leerink upped their price objective on Castle Biosciences from $45.00 to $50.00 and gave the stock a "market outperform" rating in a research note on Tuesday, August 9th. Robert W. Baird upped their target price on Castle Biosciences from $44.00 to $48.00 and gave the company an "outperform" rating in a research report on Tuesday, August 9th. Finally, BTIG Research upped their target price on Castle Biosciences to $47.00 in a research report on Monday, August 15th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $58.86.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC purchased a new position in Castle Biosciences in the first quarter valued at $57,000. Captrust Financial Advisors lifted its holdings in Castle Biosciences by 762.2% during the 2nd quarter. Captrust Financial Advisors now owns 4,018 shares of the company's stock worth $88,000 after buying an additional 3,552 shares during the last quarter. Amalgamated Bank purchased a new stake in Castle Biosciences during the 1st quarter worth about $152,000. PNC Financial Services Group Inc. lifted its holdings in Castle Biosciences by 52.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,745 shares of the company's stock worth $168,000 after buying an additional 1,290 shares during the last quarter. Finally, First Bank & Trust lifted its holdings in Castle Biosciences by 90.2% during the 2nd quarter. First Bank & Trust now owns 7,818 shares of the company's stock worth $172,000 after buying an additional 3,708 shares during the last quarter. 86.08% of the stock is currently owned by hedge funds and other institutional investors.

Castle Biosciences Company Profile

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Castle Biosciences, Inc, a commercial-stage diagnostics company, focuses to provide diagnostic and prognostic testing services for dermatological cancers. Its lead product is DecisionDx-Melanoma, a multi-gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma.

Further Reading

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