Quantbot Technologies LP Takes $351,000 Position in Caris Life Sciences, Inc. $CAI

Quantbot Technologies LP purchased a new position in shares of Caris Life Sciences, Inc. (NASDAQ:CAI) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 19,675 shares of the company’s stock, valued at approximately $351,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Global Retirement Partners LLC grew its holdings in shares of Caris Life Sciences by 99,900.0% during the fourth 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. PNC Financial Services Group Inc. raised its stake in shares of Caris Life Sciences by 839.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,644 shares of the company’s stock worth $29,000 after purchasing an additional 1,469 shares during the last quarter. MetLife Investment Management LLC increased its stake in 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 buying an additional 755 shares during the period. Fifth Third Bancorp purchased a new position in Caris Life Sciences during the 1st quarter worth $31,000. Finally, Sterling Capital Management LLC lifted its stake in shares of Caris Life Sciences by 128.3% in the 1st quarter. Sterling Capital Management LLC now owns 1,927 shares of the company’s stock worth $34,000 after acquiring an additional 1,083 shares during the period.

Caris Life Sciences Trading Down 2.8%

Shares of Caris Life Sciences stock opened at $25.63 on Friday. The company has a 50-day moving average of $19.27 and a two-hundred day moving average of $18.72. Caris Life Sciences, Inc. has a 12-month low of $14.19 and a 12-month high of $39.18. 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 stock has a market cap of $7.24 billion, a PE ratio of 71.19 and a beta of 0.68.

Caris Life Sciences announced that its board has approved a share 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 purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CAI. 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. Weiss Ratings upgraded Caris Life Sciences from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Wall Street Zen raised Caris Life Sciences from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Robert W. Baird set a $22.00 price target on Caris Life Sciences in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. dropped their price objective on Caris Life Sciences from $35.00 to $30.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.33.

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.