Daniel Bradbury, a director at Castle Biosciences Inc . (NASDAQ:), reported the sale of company shares totaling $229,225, according to a recent SEC filing. The transactions took place on January 6, 2025, with shares 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% over the last six months, according to InvestingPro data.
The sales, executed under a Rule 10b5-1 trading plan, involved multiple transactions. Bradbury sold 1,530 shares at $28.39, 434 shares at the same price, and 3,015 shares at $29.41, among others. Following these transactions, Bradbury holds shares through various trusts and an LLC, with ownership remaining indirect. InvestingPro analysis indicates the company maintains a strong financial position with a current ratio of 7.78, suggesting robust liquidity.
The filing highlights Bradbury’s continued involvement in Castle Biosciences, a company specializing in medical laboratory services. Based on InvestingPro‘s Fair Value analysis, the stock appears overvalued at current levels, trading at a P/E ratio of 146.5x. Investors often monitor such insider transactions for insights into company leadership’s confidence in the firm’s prospects.
In other recent news, Castle Biosciences, a precision diagnostics company, has made noteworthy strides in the medical diagnostics industry. The company saw a 39% increase in third-quarter revenue, reaching $85.8 million, primarily due to increased test volume and higher selling prices for its DecisionDx-SCC test. This robust performance led to an upward revision of its 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 AI-driven precision medicine test is designed to predict an individual’s risk of progressing from Barrett’s esophagus to esophageal cancer.
Analyst firms Canaccord Genuity, BTIG, KeyBanc, and Baird have responded positively to these developments, adjusting their price targets for Castle Biosciences upward. Canaccord Genuity reiterated its Buy rating and a price target of $42.00, BTIG increased the stock’s price target to $45.00, KeyBanc lifted the price target to $36, and Baird raised it to $39.00.
In addition to 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 likely to respond excellently to targeted therapies, potentially leading to reduced healthcare resource utilization. These recent developments highlight Castle Biosciences’ strong financial performance and confident growth trajectory.
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