380,927 Shares in Caris Life Sciences, Inc. $CAI Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC acquired a new stake in shares of Caris Life Sciences, Inc. (NASDAQ:CAI) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 380,927 shares of the company’s stock, valued at approximately $6,788,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC boosted its holdings in shares of Caris Life Sciences by 99,900.0% in 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 in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Caris Life Sciences by 839.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,644 shares of the company’s stock worth $29,000 after buying an additional 1,469 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Caris Life Sciences by 84.0% in the fourth quarter. MetLife Investment Management LLC now owns 1,654 shares of the company’s stock valued at $45,000 after buying an additional 755 shares in the last quarter. Fifth Third Bancorp bought a new position in Caris Life Sciences in the first quarter valued at about $31,000. Finally, Sterling Capital Management LLC grew 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 valued at $34,000 after acquiring an additional 1,083 shares during the last quarter.

Insider Activity

In other Caris Life Sciences news, President David Spetzler sold 478,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $24.86, for a total transaction of $11,883,080.00. Following the completion of the transaction, the president owned 1,052,083 shares in the company, valued at approximately $26,154,783.38. This trade represents a 31.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 50.00% of the stock is owned by company insiders.

Caris Life Sciences Stock Performance

Shares of CAI stock opened at $24.04 on Friday. The firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of 66.78 and a beta of 1.10. The company has a current ratio of 5.53, a quick ratio of 4.88 and a debt-to-equity ratio of 0.66. The business’s 50-day moving average price is $20.47 and its 200-day moving average price is $18.95. Caris Life Sciences, Inc. has a 12 month low of $14.19 and a 12 month high of $35.20.

Caris Life Sciences announced that its Board of Directors has authorized a share buyback program on Monday, June 8th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have recently commented on CAI shares. UBS Group started coverage on shares of Caris Life Sciences in a report on Wednesday. They issued a “neutral” rating and a $28.00 target price for the company. Weiss Ratings raised shares of Caris Life Sciences from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 21st. Wolfe Research downgraded shares of Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 1st. 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. Finally, BTIG Research boosted their target price on shares of Caris Life Sciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Caris Life Sciences has an average rating of “Hold” and a consensus price target of $26.50.

Caris Life Sciences Profile

Caris Life Sciences is a precision medicine and biotechnology company headquartered in Irving, Texas. Founded in 2008, the company combines molecular profiling, artificial intelligence and clinical data to support more informed decisions in cancer diagnosis and treatment.

Caris provides comprehensive tumor profiling and other laboratory testing services designed to identify genetic, molecular and immune characteristics of a patient’s cancer. Its offerings are intended to help physicians match patients with targeted therapies, immunotherapies and clinical trials, while also supporting cancer research and drug development.

The company serves healthcare providers, biopharmaceutical companies and academic or research institutions.