Caris Life Sciences (NASDAQ:CAI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Caris Life Sciences (NASDAQ:CAI) from a sell rating to a hold rating in a research note published on Sunday.

Several other research firms have also recently weighed in on CAI. New Street Research assumed coverage on shares of Caris Life Sciences in a research note on Friday, May 8th. They issued a “market perform” rating for the company. JPMorgan Chase & Co. reduced their price target on shares of Caris Life Sciences from $35.00 to $30.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Evercore reiterated an “outperform” rating and issued a $26.00 price objective on shares of Caris Life Sciences in a report on Thursday, August 6th. Wolfe Research lowered Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 1st. Finally, Robert W. Baird set a $22.00 target price on Caris Life Sciences in a research note on Friday, May 8th. Seven 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, the company currently has an average rating of “Moderate Buy” and an average price target of $26.33.

Caris Life Sciences Price Performance

Caris Life Sciences stock opened at $20.97 on Friday. The company has a current ratio of 5.53, a quick ratio of 4.88 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $18.02 and a 200 day moving average price of $18.52. Caris Life Sciences has a 12-month low of $14.19 and a 12-month high of $42.50. The stock has a market cap of $5.93 billion, a P/E ratio of 58.25 and a beta of 0.68.

Caris Life Sciences declared that its board has initiated a stock buyback program on Monday, June 8th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Caris Life Sciences

Several institutional investors have recently bought and sold shares of the company. PointState Capital LP acquired a new stake in Caris Life Sciences during the 2nd quarter worth approximately $121,690,000. BlackRock Inc. acquired a new position in shares of Caris Life Sciences in the second quarter worth $98,666,000. UBS Group AG grew its stake in shares of Caris Life Sciences by 825.9% in the fourth quarter. UBS Group AG now owns 2,183,980 shares of the company’s stock worth $58,924,000 after acquiring an additional 1,948,107 shares in the last quarter. Balyasny Asset Management L.P. increased its position in shares of Caris Life Sciences by 23,902.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,660,280 shares of the company’s stock worth $44,794,000 after acquiring an additional 1,653,363 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Caris Life Sciences by 185.0% in the fourth quarter. JPMorgan Chase & Co. now owns 2,445,281 shares of the company’s stock valued at $65,974,000 after acquiring an additional 1,587,176 shares in the last quarter.

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.