Caris Life Sciences (NASDAQ:CAI) Announces Quarterly Earnings Results

Caris Life Sciences (NASDAQ:CAI) announced its earnings results on Thursday. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.27, Zacks reports.

Caris Life Sciences Trading Up 5.1%

CAI traded up $0.93 during trading on Thursday, reaching $19.24. 2,618,346 shares of the company were exchanged, compared to its average volume of 2,479,244. Caris Life Sciences has a 52 week low of $17.15 and a 52 week high of $42.50. The company has a debt-to-equity ratio of 0.79, a quick ratio of 9.36 and a current ratio of 9.93. The business’s 50 day moving average price is $24.75. The firm has a market capitalization of $5.43 billion and a PE ratio of -41.83.

Insider Activity

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

Institutional Investors Weigh In On Caris Life Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. MetLife Investment Management LLC grew its position in Caris Life Sciences by 84.0% in the 4th 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. Global Retirement Partners LLC lifted its stake 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 worth $27,000 after acquiring an additional 999 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Caris Life Sciences by 15.0% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 11,932 shares of the company’s stock valued at $322,000 after acquiring an additional 1,560 shares in the last quarter. PEAK6 LLC increased its stake in shares of Caris Life Sciences by 6.9% during the fourth quarter. PEAK6 LLC now owns 24,800 shares of the company’s stock valued at $669,000 after acquiring an additional 1,600 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new stake in Caris Life Sciences during the fourth quarter worth approximately $67,000.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of Caris Life Sciences from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Evercore set a $38.00 price target on Caris Life Sciences in a research note on Monday, January 5th. Weiss Ratings restated a “sell (d)” rating on shares of Caris Life Sciences in a research note on Monday, December 29th. Robert W. Baird started coverage on Caris Life Sciences in a report on Tuesday, February 17th. They issued an “outperform” rating and a $26.00 price target for the company. Finally, Canaccord Genuity Group upped their price target on Caris Life Sciences from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, December 22nd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Caris Life Sciences presently has an average rating of “Hold” and an average target price of $31.33.

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.