Castle Biosciences (NASDAQ:CSTL) Director David S. Kabakoff Sells 175,000 Shares

Castle Biosciences (NASDAQ:CSTL) Director David S. Kabakoff sold 175,000 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $40.50, for a total transaction of $7,087,500.00. Following the completion of the transaction, the director now owns 212,178 shares in the company, valued at approximately $8,593,209. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

CSTL stock traded up $1.13 during midday trading on Tuesday, reaching $43.01. 333,483 shares of the company’s stock traded hands, compared to its average volume of 172,188. The company has a market cap of $729.87 million and a price-to-earnings ratio of -50.01. The firm’s fifty day moving average price is $36.89 and its 200-day moving average price is $31.72. The company has a quick ratio of 7.56, a current ratio of 7.64 and a debt-to-equity ratio of 0.19. Castle Biosciences has a 52 week low of $15.26 and a 52 week high of $44.53.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.18. The business had revenue of $17.42 million during the quarter, compared to analyst estimates of $14.40 million. Castle Biosciences had a net margin of 11.90% and a return on equity of 3.88%. Analysts forecast that Castle Biosciences will post -0.5 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the business. Ameritas Investment Partners Inc. grew its stake in shares of Castle Biosciences by 165.8% in the 1st quarter. Ameritas Investment Partners Inc. now owns 824 shares of the company’s stock worth $25,000 after acquiring an additional 514 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Castle Biosciences by 111.5% in the 1st quarter. Legal & General Group Plc now owns 1,457 shares of the company’s stock worth $43,000 after acquiring an additional 768 shares in the last quarter. Essex Investment Management Co. LLC grew its stake in shares of Castle Biosciences by 1.8% in the 4th quarter. Essex Investment Management Co. LLC now owns 54,183 shares of the company’s stock worth $1,862,000 after acquiring an additional 945 shares in the last quarter. UBS Group AG grew its stake in shares of Castle Biosciences by 28.7% in the 1st quarter. UBS Group AG now owns 6,683 shares of the company’s stock worth $199,000 after acquiring an additional 1,490 shares in the last quarter. Finally, Citigroup Inc. grew its stake in shares of Castle Biosciences by 82.1% in the 1st quarter. Citigroup Inc. now owns 3,785 shares of the company’s stock worth $113,000 after acquiring an additional 1,707 shares in the last quarter. Institutional investors and hedge funds own 42.74% of the company’s stock.

A number of research analysts have recently issued reports on the stock. SVB Leerink boosted their price target on shares of Castle Biosciences from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. BTIG Research lifted their price objective on shares of Castle Biosciences from $32.00 to $41.00 in a research note on Wednesday, March 11th. Zacks Investment Research lowered shares of Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Canaccord Genuity lifted their price objective on shares of Castle Biosciences from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Finally, Robert W. Baird lowered their price objective on shares of Castle Biosciences from $38.00 to $35.00 and set an “outperform” rating for the company in a research note on Friday, March 27th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $39.00.

Castle Biosciences Company Profile

Castle Biosciences, Inc, a commercial-stage dermatological cancer, develops and commercializes diagnostic and prognostic tests for cancers. Its lead product is DecisionDx-Melanoma, a multi-gene expression profile (GEP) test to identify stage I and II patients at high risk of metastasis based on biological information from 31 genes within their tumor tissue.

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Insider Buying and Selling by Quarter for Castle Biosciences (NASDAQ:CSTL)

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