Caris Life Sciences (NASDAQ:CAI) Hits New 12-Month Low – Time to Sell?

Caris Life Sciences, Inc. (NASDAQ:CAI) hit a new 52-week low during trading on Friday . The stock traded as low as $17.12 and last traded at $16.9480, with a volume of 711674 shares. The stock had previously closed at $18.33.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Caris Life Sciences in a research note on Monday, December 29th. Evercore set a $38.00 price target on Caris Life Sciences in a research note on Monday, January 5th. Canaccord Genuity Group decreased their price objective on Caris Life Sciences from $30.00 to $22.00 and set a “hold” rating on the stock in a report on Friday, March 13th. Robert W. Baird increased their target price on shares of Caris Life Sciences from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. Finally, Wall Street Zen raised shares of Caris Life Sciences from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $31.50.

Caris Life Sciences Stock Performance

The stock has a market capitalization of $4.68 billion and a PE ratio of -91.80. The company’s 50-day moving average is $21.12. The company has a debt-to-equity ratio of 0.66, a quick ratio of 7.35 and a current ratio of 7.85.

Caris Life Sciences (NASDAQ:CAI) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.01 by $0.27. The business had revenue of $292.89 million during the quarter, compared to analyst estimates of $281.00 million. The business’s revenue for the quarter was up 125.4% on a year-over-year basis. During the same period last year, the company earned ($1.73) EPS.

Hedge Funds Weigh In On Caris Life Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. PointState Capital LP boosted its stake in shares of Caris Life Sciences by 73.0% in the fourth quarter. PointState Capital LP now owns 6,718,707 shares of the company’s stock valued at $181,271,000 after purchasing an additional 2,834,986 shares during the period. UBS Group AG boosted its position in 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 buying an additional 1,948,107 shares during the period. Balyasny Asset Management L.P. raised its stake in shares of Caris Life Sciences by 23,902.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,660,280 shares of the company’s stock valued at $44,794,000 after acquiring an additional 1,653,363 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Caris Life Sciences by 185.0% in the fourth 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, T. Rowe Price Investment Management Inc. raised its position in Caris Life Sciences by 14.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,205,959 shares of the company’s stock valued at $248,377,000 after purchasing an additional 1,180,200 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.