Daniel Bradbury, director at Castle Biosciences Inc . (NASDAQ: ), reported sales of $229,225 worth of company stock, according to its most recent filing with the SEC. The transactions took place on January 6, 2025, and the shares were sold at prices ranging from $28.39 to $29.82. The stock has shown remarkable momentum, gaining over 20% in the past week and nearly 80% in the past six months, according to InvestingPro data.
The sale, executed under a Rule 10b5-1 trading plan, involved multiple transactions. Among others, Bradbury sold 1,530 shares at $28.39, 434 shares at the same price and 3,015 shares at $29.41. After these transactions, Bradbury holds the stock through various trusts and LLCs, with ownership remaining indirect. InvestingPro analysis shows that the company maintains a strong financial position with a current ratio of 7.78, indicating strong liquidity.
The filing highlights Bradbury’s continued involvement with Castle Biosciences, a company specializing in medical laboratory services. Based on InvestingProA fair value analysis of the stock appears overvalued at current levels, trading at a P/E ratio of 146.5x. Investors often monitor such insider transactions to gain insight into a company’s management’s confidence in the company’s prospects.
In other recent news, Castle Biosciences, a precision diagnostics company, has made significant strides in the medical diagnostics industry. The company reported a 39% increase in revenue in the third quarter, reaching $85.8 million, primarily due to increased testing volume and higher selling prices for its DecisionDx-SCC test. This strong performance led to an upward revision of full-year revenue guidance to between $320 million and $330 million.
The company also received approval from the New York State Department of Health for its TissueCypher Barrett’s Esophagus test, a significant milestone. This precision AI-driven medical test is designed to predict an individual’s risk of progression from Barrett’s esophagus to esophageal cancer.
Analyst firms Canaccord Genuity, BTIG, KeyBanc and Baird responded positively to this development, adjusting their price targets for Castle Biosciences upwards. Canaccord Genuity reiterated their buy rating and $42.00 target price, BTIG upped their target price to $45.00, KeyBanc upped their target price to $36.00 and Baird upped it to $39.00.
Along with these developments, Castle Biosciences plans to launch a test for atopic dermatitis by the end of 2025. This test has shown potential in identifying patients who are likely to respond well to targeted therapies, potentially leading to reduced use of healthcare resources. These recent developments highlight the strong financial performance and reliable growth trajectory of Castle Biosciences.
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