Caris Life Sciences (NASDAQ:CAI) Trading Down 7.7% – Time to Sell?

Caris Life Sciences, Inc. (NASDAQ:CAI) dropped 7.7% during mid-day trading on Friday . The stock traded as low as $19.23 and last traded at $19.24. Approximately 1,037,905 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 2,385,899 shares. The stock had previously closed at $20.85.

Wall Street Analysts Forecast Growth

CAI has been the subject of a number of recent research reports. Canaccord Genuity Group upped their price objective on Caris Life Sciences from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, December 22nd. Robert W. Baird assumed coverage on shares of Caris Life Sciences in a research report on Tuesday. They issued an “outperform” rating and a $26.00 price objective on the stock. Wall Street Zen lowered shares of Caris Life Sciences from a “buy” rating to a “hold” rating in a research note on Saturday. Evercore set a $38.00 price target on shares of Caris Life Sciences in a research note on Monday, January 5th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Caris Life Sciences in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $31.33.

Caris Life Sciences Price Performance

The stock has a fifty day moving average price of $25.30. The company has a market capitalization of $5.51 billion and a price-to-earnings ratio of -42.46. The company has a debt-to-equity ratio of 0.79, a quick ratio of 9.36 and a current ratio of 9.93.

Insider Buying and Selling at Caris Life Sciences

In other news, insider Luke Thomas Power sold 62,250 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $26.58, for a total value of $1,654,605.00. Following the completion of the transaction, the insider directly owned 99,571 shares in the company, valued at $2,646,597.18. This trade represents a 38.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Caris Life Sciences

A number of institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC increased its position in shares of Caris Life Sciences by 99,900.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 999 shares during the period. Olistico Wealth LLC bought a new position in Caris Life Sciences during the fourth quarter valued at about $31,000. MetLife Investment Management LLC grew its holdings in Caris Life Sciences by 84.0% during the fourth quarter. MetLife Investment Management LLC now owns 1,654 shares of the company’s stock worth $45,000 after acquiring an additional 755 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in Caris Life Sciences in the fourth quarter worth about $67,000. Finally, Federated Hermes Inc. acquired a new stake in Caris Life Sciences in the 4th quarter valued at about $81,000.

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.