Caris Life Sciences (NASDAQ:CAI) Shares Up 8.1% – Here’s Why

Caris Life Sciences, Inc. (NASDAQ:CAI)’s stock price traded up 8.1% during mid-day trading on Thursday . The company traded as high as $16.32 and last traded at $16.7320. 99,914 shares were traded during mid-day trading, a decline of 96% from the average session volume of 2,537,484 shares. The stock had previously closed at $15.48.

Analyst Ratings Changes

A number of research analysts recently issued reports on CAI shares. Piper Sandler started coverage on Caris Life Sciences in a report on Friday, April 10th. They issued a “neutral” rating and a $21.00 price target for the company. The Goldman Sachs Group started coverage on Caris Life Sciences in a report on Wednesday, April 1st. They issued a “buy” rating and a $27.00 price target for the company. Canaccord Genuity Group cut their price target on Caris Life Sciences from $30.00 to $22.00 and set a “hold” rating for the company in a report on Friday, March 13th. BTIG Research cut their price target on Caris Life Sciences from $38.00 to $32.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, Robert W. Baird set a $22.00 price target on Caris Life Sciences in a report on Friday, May 8th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $27.56.

Caris Life Sciences Stock Up 11.4%

The firm has a market capitalization of $4.88 billion and a price-to-earnings ratio of -2.26. The company has a quick ratio of 6.52, a current ratio of 7.05 and a debt-to-equity ratio of 0.64. The company’s fifty day moving average price is $17.93.

Insiders Place Their Bets

In other news, Director Jeff L. Vacirca acquired 31,050 shares of the company’s stock in a transaction on Monday, May 11th. The stock was purchased at an average cost of $16.15 per share, with a total value of $501,457.50. Following the acquisition, the director owned 49,671 shares of the company’s stock, valued at $802,186.65. This trade represents a 166.75% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 50.00% of the company’s stock.

Institutional Trading of Caris Life Sciences

Institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC grew its holdings in 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 acquiring an additional 999 shares during the period. Olistico Wealth LLC bought a new stake in shares of Caris Life Sciences in the 4th quarter valued at about $31,000. PNC Financial Services Group Inc. increased its stake in shares of Caris Life Sciences by 839.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,644 shares of the company’s stock valued at $29,000 after acquiring an additional 1,469 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of Caris Life Sciences by 84.0% in the 4th quarter. MetLife Investment Management LLC now owns 1,654 shares of the company’s stock valued at $45,000 after acquiring an additional 755 shares during the last quarter. Finally, Fifth Third Bancorp bought a new stake in shares of Caris Life Sciences in the 1st quarter valued at about $31,000.

Caris Life Sciences Company Profile

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.