Caris Life Sciences (NASDAQ:CAI) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Caris Life Sciences (NASDAQ:CAI) issued its earnings results on Wednesday. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02, FiscalAI reports. The business had revenue of $275.36 million during the quarter. Caris Life Sciences had a return on equity of 18.77% and a net margin of 10.62%.

Caris Life Sciences Stock Performance

Shares of CAI traded up $0.37 on Wednesday, reaching $33.22. The company’s stock had a trading volume of 4,067,480 shares, compared to its average volume of 3,407,509. The stock’s 50 day simple moving average is $29.41 and its two-hundred day simple moving average is $21.71. The company has a debt-to-equity ratio of 0.66, a current ratio of 5.53 and a quick ratio of 4.88. The stock has a market capitalization of $9.39 billion, a P/E ratio of 92.28 and a beta of 0.70. Caris Life Sciences has a 12-month low of $14.19 and a 12-month high of $36.50.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CAI shares. BTIG Research raised their price target on shares of Caris Life Sciences from $33.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, October 27th. 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. Canaccord Genuity Group raised their target price on shares of Caris Life Sciences from $22.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, October 19th. UBS Group started coverage on shares of Caris Life Sciences in a research report on Wednesday, September 9th. They issued a “neutral” rating and a $28.00 target price for the company. Finally, Evercore reiterated an “outperform” rating and set a $26.00 target price on shares of Caris Life Sciences in a research note on Thursday, August 6th. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

Insider Buying and Selling at Caris Life Sciences

In other news, insider Brian J. Brille sold 400,000 shares of the business’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $30.33, for a total transaction of $12,132,000.00. Following the completion of the sale, the insider owned 230,303 shares of the company’s stock, valued at $6,985,089.99. The trade was a 63.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Russel Denton sold 7,500 shares of the business’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $31.82, for a total transaction of $238,650.00. Following the sale, the insider directly owned 174,855 shares of the company’s stock, valued at approximately $5,563,886.10. The trade was a 4.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,004,712 shares of company stock valued at $27,205,419. Insiders own 50.00% of the company’s stock.

Hedge Funds Weigh In On Caris Life Sciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in shares of Caris Life Sciences by 133.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,263 shares of the company’s stock worth $39,000 after acquiring an additional 721 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings 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 purchasing an additional 1,469 shares in the last quarter. Fifth Third Bancorp purchased a new position in shares of Caris Life Sciences in the first quarter valued at $31,000. Sterling Capital Management LLC increased its position in Caris Life Sciences by 128.3% in the first quarter. Sterling Capital Management LLC now owns 1,927 shares of the company’s stock worth $34,000 after purchasing an additional 1,083 shares during the last quarter. Finally, Root Financial Partners LLC bought a new position in Caris Life Sciences during the third quarter valued at $60,000.

Caris Life Sciences Company Profile

Caris Life Sciences is a biotechnology and precision-medicine company that uses molecular profiling and artificial intelligence to support cancer diagnosis, treatment selection and drug development. The company analyzes tumor and blood samples to identify genomic, molecular and immune characteristics that may help physicians better understand a patient’s disease and select targeted therapies.

Its offerings include comprehensive tumor profiling, liquid-biopsy testing and data-driven clinical decision-support tools.