Mangrove Partners IM LLC Purchases Shares of 42,483 Caris Life Sciences, Inc. $CAI

Mangrove Partners IM LLC acquired a new stake in Caris Life Sciences, Inc. (NASDAQ:CAI) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 42,483 shares of the company’s stock, valued at approximately $1,146,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CAI. UBS Group AG grew its position in shares of Caris Life Sciences by 825.9% in the 4th quarter. UBS Group AG now owns 2,183,980 shares of the company’s stock valued at $58,924,000 after acquiring an additional 1,948,107 shares during the period. JPMorgan Chase & Co. grew its position in shares of Caris Life Sciences by 185.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,445,281 shares of the company’s stock valued at $65,974,000 after acquiring an additional 1,587,176 shares during the period. Champlain Investment Partners LLC bought a new position in shares of Caris Life Sciences in the 4th quarter valued at about $25,344,000. Marshall Wace LLP grew its position in shares of Caris Life Sciences by 1,108.5% in the 4th quarter. Marshall Wace LLP now owns 1,002,734 shares of the company’s stock valued at $27,054,000 after acquiring an additional 919,759 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of Caris Life Sciences by 57,052.2% in the 4th quarter. BNP Paribas Financial Markets now owns 685,826 shares of the company’s stock valued at $18,504,000 after acquiring an additional 684,626 shares during the period.

Caris Life Sciences Stock Performance

Shares of CAI opened at $17.98 on Wednesday. Caris Life Sciences, Inc. has a 52 week low of $14.19 and a 52 week high of $42.50. The firm has a market cap of $5.08 billion and a price-to-earnings ratio of -2.36. The firm has a 50-day moving average of $17.74. The company has a debt-to-equity ratio of 0.64, a quick ratio of 6.52 and a current ratio of 7.05.

Caris Life Sciences declared that its Board of Directors has initiated a stock buyback plan on Monday, June 8th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to purchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Jeff L. Vacirca purchased 31,050 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average price of $16.15 per share, for a total transaction of $501,457.50. Following the purchase, the director owned 49,671 shares in the company, valued at approximately $802,186.65. This represents a 166.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 50.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CAI. Wolfe Research downgraded shares of Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 1st. BTIG Research decreased their price objective on shares of Caris Life Sciences from $38.00 to $32.00 and set a “buy” rating for the company in a research report on Friday, May 8th. JPMorgan Chase & Co. decreased their price objective 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. Citigroup decreased their price objective on shares of 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 objective on shares of Caris Life Sciences in a research report on Friday, May 8th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $27.56.

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.