Caris Life Sciences (NASDAQ:CAI) Sets New 12-Month Low – Here’s What Happened

Shares of Caris Life Sciences, Inc. (NASDAQ:CAI) reached a new 52-week low on Wednesday . The stock traded as low as $21.09 and last traded at $21.13, with a volume of 404299 shares traded. The stock had previously closed at $22.17.

Wall Street Analyst Weigh In

Several brokerages recently commented on CAI. Weiss Ratings restated a “sell (d)” rating on shares of Caris Life Sciences in a report on Monday, December 29th. Canaccord Genuity Group boosted their price objective on shares of Caris Life Sciences from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, December 22nd. Wall Street Zen upgraded shares of Caris Life Sciences from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Finally, Evercore set a $38.00 price target on shares of Caris Life Sciences in a research report on Monday, January 5th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $34.00.

Caris Life Sciences Trading Down 3.0%

The company has a market capitalization of $6.07 billion and a P/E ratio of -46.74. The company has a 50-day moving average price of $26.28. The company has a debt-to-equity ratio of 0.79, a quick ratio of 9.36 and a current ratio of 9.93.

Insiders Place Their Bets

In other Caris Life Sciences news, insider Luke Thomas Power sold 62,250 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $26.58, for a total value of $1,654,605.00. Following the sale, the insider directly owned 99,571 shares in the company, valued at $2,646,597.18. The trade was a 38.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Amova Asset Management Americas Inc. boosted its position in Caris Life Sciences by 15.5% during the 4th quarter. Amova Asset Management Americas Inc. now owns 54,719 shares of the company’s stock valued at $1,475,000 after acquiring an additional 7,348 shares in the last quarter. LPL Financial LLC increased its holdings in Caris Life Sciences by 60.8% in the 4th quarter. LPL Financial LLC now owns 25,711 shares of the company’s stock worth $694,000 after buying an additional 9,720 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Caris Life Sciences by 23.8% in the fourth quarter. Franklin Resources Inc. now owns 268,615 shares of the company’s stock worth $7,247,000 after purchasing an additional 51,651 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Caris Life Sciences by 185.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,445,281 shares of the company’s stock valued at $65,974,000 after purchasing an additional 1,587,176 shares during the period. Finally, Clearbridge Investments LLC increased its position in Caris Life Sciences by 2.5% in the fourth quarter. Clearbridge Investments LLC now owns 1,416,207 shares of the company’s stock worth $38,209,000 after buying an additional 34,977 shares in the last quarter.

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.