Caris Life Sciences, Inc. (NASDAQ:CAI) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Caris Life Sciences, Inc. (NASDAQ:CAI) have been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $26.3333.

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Caris Life Sciences from $35.00 to $30.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. New Street Research assumed coverage on Caris Life Sciences in a report on Friday, May 8th. They set a “market perform” rating on the stock. Wolfe Research lowered Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 1st. Citigroup cut their target price on Caris Life Sciences from $35.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Robert W. Baird set a $22.00 price target on Caris Life Sciences in a research note on Friday, May 8th.

Insider Activity at Caris Life Sciences

In other news, President David Baxley Spetzler sold 119,212 shares of the business’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $24.76, for a total value of $2,951,689.12. Following the sale, the president owned 1,182,871 shares in the company, valued at approximately $29,287,885.96. The trade was a 9.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 50.00% of the company’s stock.

Hedge Funds Weigh In On Caris Life Sciences

Several institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC grew its stake in 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% in the first quarter. PNC Financial Services Group Inc. now owns 1,644 shares of the company’s stock valued at $29,000 after acquiring an additional 1,469 shares during the last quarter. Fifth Third Bancorp bought a new position in shares of Caris Life Sciences in the first quarter valued at approximately $31,000. Sterling Capital Management LLC boosted 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 worth $34,000 after acquiring an additional 1,083 shares in the last quarter. Finally, Trifecta Capital Advisors LLC bought a new stake in Caris Life Sciences during the 2nd quarter worth approximately $37,000.

Caris Life Sciences Price Performance

NASDAQ:CAI opened at $25.07 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.88 and a current ratio of 5.53. The company has a 50-day moving average of $19.98 and a 200-day moving average of $18.85. Caris Life Sciences has a 52 week low of $14.19 and a 52 week high of $36.65. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of 69.64 and a beta of 1.10.

Caris Life Sciences declared that its board has initiated a stock repurchase program on Monday, June 8th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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.