Castle Biosciences' chief commercial officer sells $66,900 in shares

Juvenal Tobin W, the Chief Commercial Officer of Castle Biosciences Inc . (NASDAQ:CSTL), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Tobin sold 2,230 shares of common stock at a price of $30 per share, amounting to a total transaction value of $66,900. The stock, which has surged over 79% in the past six months according to InvestingPro data, currently trades at $32.72.

Following this transaction, Tobin retains ownership of 69,943 shares directly. Additionally, there are 2,230 shares held indirectly by the Tobin W and Susan M Juvenal Family Revocable Trust, where Tobin and his spouse are trustees. This sale was conducted under a pre-arranged trading plan, known as a Rule 10b5-1 plan, adopted by Tobin on September 11, 2024. InvestingPro analysis shows Castle Biosciences maintains a "GREAT" financial health score, with analysts maintaining a Strong Buy consensus. Discover more insights about CSTL and 1,400+ other stocks through InvestingPro's comprehensive research reports.

In other recent news, Castle Biosciences has made noteworthy strides in the healthcare industry. The precision diagnostics company has received approval from the New York State Department of Health for its TissueCypher Barrett's Esophagus test, a significant milestone that enhances its commitment to delivering high-quality molecular tests. Castle Biosciences has also reported a considerable 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.

In light of these developments, the company has revised its full-year revenue guidance to between $320 million and $330 million. Analyst firms Canaccord Genuity, BTIG, KeyBanc, and Baird have responded positively, adjusting their price targets for Castle Biosciences upward. Despite uncertainties surrounding the reimbursement decision for DecisionDx-SCC, Castle Biosciences continues to engage in discussions to secure coverage.

Furthermore, the company has announced plans to launch a test for atopic dermatitis by the end of 2025, which shows potential in identifying patients likely to respond excellently to targeted therapies. These recent developments underscore Castle Biosciences' strong financial performance and confident growth trajectory, positioning it as a significant player in the healthcare sector.

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