PDT Partners LLC Acquires New Shares in Caris Life Sciences, Inc. $CAI

PDT Partners LLC acquired a new position in shares of Caris Life Sciences, Inc. (NASDAQ:CAI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 22,016 shares of the company’s stock, valued at approximately $392,000.

Several other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Caris Life Sciences during the second quarter valued at about $98,666,000. PointState Capital LP boosted its position in shares of Caris Life Sciences by 73.0% in the fourth quarter. PointState Capital LP now owns 6,718,707 shares of the company’s stock valued at $181,271,000 after acquiring an additional 2,834,986 shares during the period. UBS Group AG boosted its position 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 valued at $58,924,000 after acquiring an additional 1,948,107 shares during the period. Balyasny Asset Management L.P. grew its stake in 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 valued at $44,794,000 after acquiring an additional 1,653,363 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Caris Life Sciences by 185.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,445,281 shares of the company’s stock worth $65,974,000 after acquiring an additional 1,587,176 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have commented on CAI. New Street Research started coverage on shares of Caris Life Sciences in a report on Friday, May 8th. They issued a “market perform” rating for the company. BTIG Research upped their price target on shares of Caris Life Sciences from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Citigroup lowered their price objective on Caris Life Sciences from $35.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. JPMorgan Chase & Co. dropped their price objective on Caris Life Sciences from $35.00 to $30.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Finally, Wall Street Zen upgraded Caris Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.33.

Caris Life Sciences Price Performance

CAI stock opened at $26.38 on Friday. The firm has a 50 day simple moving average of $19.13 and a two-hundred day simple moving average of $18.67. The stock has a market cap of $7.45 billion, a PE ratio of 73.28 and a beta of 0.68. Caris Life Sciences, Inc. has a one year low of $14.19 and a one year high of $39.18. The company has a debt-to-equity ratio of 0.66, a current ratio of 5.53 and a quick ratio of 4.88.

Caris Life Sciences declared that its board has approved a share buyback plan on Monday, June 8th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 2.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.