Moore Capital Management LP Invests $1.14 Million in Caris Life Sciences, Inc. $CAI

Moore Capital Management LP bought a new stake in Caris Life Sciences, Inc. (NASDAQ:CAI) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 63,895 shares of the company’s stock, valued at approximately $1,139,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MetLife Investment Management LLC lifted its position in Caris Life Sciences by 84.0% in the fourth 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. Global Retirement Partners LLC increased its position 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 purchasing an additional 999 shares in the last quarter. Sterling Capital Management LLC lifted its holdings 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 valued at $34,000 after purchasing an additional 1,083 shares during the last quarter. PNC Financial Services Group Inc. boosted its position 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 purchasing an additional 1,469 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey boosted its position in shares of Caris Life Sciences by 15.0% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 11,932 shares of the company’s stock valued at $322,000 after purchasing an additional 1,560 shares during the period.

Caris Life Sciences Trading Down 0.5%

Shares of Caris Life Sciences stock opened at $25.49 on Tuesday. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of 70.81 and a beta of 0.68. Caris Life Sciences, Inc. has a 52-week low of $14.19 and a 52-week high of $39.18. The company’s 50-day simple moving average is $19.44 and its 200-day simple moving average is $18.72. The company has a quick ratio of 4.88, a current ratio of 5.53 and a debt-to-equity ratio of 0.66.

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

Analyst Upgrades and Downgrades

Several research firms have commented on CAI. Citigroup cut their price target 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. decreased their price objective on Caris Life Sciences from $35.00 to $30.00 and set an “overweight” rating for the company in a report on Friday, May 8th. 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. Robert W. Baird set a $22.00 price target on shares of Caris Life Sciences in a research note on Friday, May 8th. Finally, BTIG Research lifted their price objective on shares of Caris Life Sciences from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.33.

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.