Perigon Wealth Management LLC Invests $438,000 in Caris Life Sciences, Inc. $CAI

Perigon Wealth Management LLC purchased a new position in shares of Caris Life Sciences, Inc. (NASDAQ:CAI) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 24,576 shares of the company’s stock, valued at approximately $438,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in Caris Life Sciences in the fourth quarter worth $370,000. TD Waterhouse Canada Inc. acquired a new stake in shares of Caris Life Sciences in the fourth quarter valued at $2,498,000. DekaBank Deutsche Girozentrale bought a new position in shares of Caris Life Sciences in the fourth quarter valued at about $3,942,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Caris Life Sciences in the fourth quarter valued at about $1,240,000. Finally, Courier Capital LLC acquired a new position in Caris Life Sciences during the 4th quarter worth about $231,000.

Analyst Ratings Changes

Several equities research analysts have weighed in on CAI shares. Wolfe Research cut shares of Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 1st. BTIG Research upped their target price on shares of Caris Life Sciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. New Street Research initiated coverage on shares of Caris Life Sciences in a research note on Friday, May 8th. They set a “market perform” rating on the stock. Wall Street Zen upgraded shares of Caris Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. Finally, Evercore reaffirmed an “outperform” rating and set a $26.00 price objective on shares of Caris Life Sciences in a report on Thursday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.33.

Caris Life Sciences Stock Performance

Shares of NASDAQ:CAI opened at $24.58 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. Caris Life Sciences, Inc. has a 1-year low of $14.19 and a 1-year high of $42.50. The stock has a market capitalization of $6.95 billion, a P/E ratio of 68.28 and a beta of 0.68. The business has a 50-day moving average price of $18.27 and a two-hundred day moving average price of $18.52.

Caris Life Sciences declared that its Board of Directors has authorized a stock buyback plan on Monday, June 8th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Caris Life Sciences 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.