Element Capital Management LLC Buys New Holdings in Caris Life Sciences, Inc. $CAI

Element Capital Management LLC purchased a new position in Caris Life Sciences, Inc. (NASDAQ:CAI) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 50,000 shares of the company’s stock, valued at approximately $1,349,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MetLife Investment Management LLC boosted its position in shares of 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 last quarter. Global Retirement Partners LLC lifted its stake in 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 purchasing an additional 999 shares in the last quarter. Olistico Wealth LLC bought a new position in shares of Caris Life Sciences during the 4th quarter valued at about $31,000. Police & Firemen s Retirement System of New Jersey grew its position in shares of Caris Life Sciences by 15.0% during 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 purchasing an additional 1,560 shares in the last quarter. Finally, PEAK6 LLC increased its holdings in shares of Caris Life Sciences by 6.9% in the fourth quarter. PEAK6 LLC now owns 24,800 shares of the company’s stock worth $669,000 after purchasing an additional 1,600 shares during the last quarter.

Caris Life Sciences Stock Performance

Shares of Caris Life Sciences stock opened at $17.86 on Thursday. The business has a 50 day moving average of $17.72. Caris Life Sciences, Inc. has a one year low of $14.19 and a one year high of $42.50. The stock has a market cap of $5.05 billion and a PE ratio of -2.35. The company has a current ratio of 7.05, a quick ratio of 6.52 and a debt-to-equity ratio of 0.64.

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

Insiders Place Their Bets

In other news, Director Jeff L. Vacirca bought 31,050 shares of Caris Life Sciences stock in a transaction dated Monday, May 11th. The shares were acquired at an average price of $16.15 per share, with a total value of $501,457.50. Following the completion of the purchase, the director owned 49,671 shares in the company, valued at $802,186.65. The trade was a 166.75% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 50.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CAI shares. Canaccord Genuity Group dropped their price target on Caris Life Sciences from $30.00 to $22.00 and set a “hold” rating for the company in a research note on Friday, March 13th. Robert W. Baird set a $22.00 price objective on Caris Life Sciences in a report on Friday, May 8th. Jefferies Financial Group initiated coverage on shares of Caris Life Sciences in a report on Monday, April 13th. They issued a “buy” rating and a $28.00 target price for the company. JPMorgan Chase & Co. reduced their price target on shares of Caris Life Sciences from $35.00 to $30.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Finally, Wall Street Zen lowered shares of Caris Life Sciences from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock 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.