Canaccord Genuity Group Cuts Caris Life Sciences (NASDAQ:CAI) Price Target to $22.00

Caris Life Sciences (NASDAQ:CAI) had its target price decreased by research analysts at Canaccord Genuity Group from $30.00 to $22.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 21.83% from the company’s previous close.

Several other equities research analysts have also commented on CAI. BTIG Research decreased their price objective on shares of Caris Life Sciences from $45.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Weiss Ratings restated a “sell (d)” rating on shares of Caris Life Sciences in a research report on Monday, December 29th. Robert W. Baird increased their price target on shares of Caris Life Sciences from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. Wall Street Zen upgraded Caris Life Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Finally, Evercore set a $38.00 target price on Caris Life Sciences in a report on Monday, January 5th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Caris Life Sciences has a consensus rating of “Hold” and an average target price of $31.50.

Caris Life Sciences Trading Up 2.1%

Shares of NASDAQ:CAI traded up $0.37 during trading on Friday, hitting $18.06. 1,045,466 shares of the stock were exchanged, compared to its average volume of 2,442,459. The company has a market capitalization of $5.10 billion and a P/E ratio of -100.32. The company has a debt-to-equity ratio of 0.66, a quick ratio of 7.35 and a current ratio of 7.85. The company has a fifty day simple moving average of $22.84. Caris Life Sciences has a 12-month low of $17.15 and a 12-month high of $42.50.

Caris Life Sciences (NASDAQ:CAI) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.27. The firm had revenue of $292.89 million during the quarter, compared to analysts’ expectations of $281.00 million. The business’s revenue for the quarter was up 125.4% on a year-over-year basis. During the same period in the previous year, the business earned ($1.73) earnings per share.

Hedge Funds Weigh In On Caris Life Sciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC increased its holdings in shares of Caris Life Sciences by 99,900.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,000 shares of the company’s stock worth $27,000 after buying an additional 999 shares during the last quarter. Olistico Wealth LLC acquired a new stake in Caris Life Sciences during the fourth quarter worth about $31,000. MetLife Investment Management LLC increased its stake in Caris Life Sciences by 84.0% during the fourth quarter. MetLife Investment Management LLC now owns 1,654 shares of the company’s stock worth $45,000 after acquiring an additional 755 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Caris Life Sciences in the 4th quarter valued at about $67,000. Finally, Federated Hermes Inc. acquired a new position in shares of Caris Life Sciences in the 4th quarter valued at about $81,000.

About Caris Life Sciences

Caris Life Sciences (NASDAQ: CAI) is a molecular science company focused on advancing precision medicine in oncology. The company develops and delivers comprehensive molecular profiling services designed to identify actionable biomarkers across DNA, RNA and protein modalities. Its clinical services are intended to support oncologists in treatment decision-making by matching patients to targeted therapies, immunotherapies and relevant clinical trials based on tumor biology.

Caris provides laboratory-based diagnostic testing and related interpretive reports, combining high-throughput sequencing and other molecular technologies with bioinformatic analysis.