Capstone Investment Advisors LLC Purchases Shares of 20,213 Caris Life Sciences, Inc. $CAI

Capstone Investment Advisors LLC acquired a new stake in shares of Caris Life Sciences, Inc. (NASDAQ:CAI) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 20,213 shares of the company’s stock, valued at approximately $360,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. T. Rowe Price Investment Management Inc. grew its holdings in Caris Life Sciences by 14.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,205,959 shares of the company’s stock worth $248,377,000 after acquiring an additional 1,180,200 shares during the period. Braidwell LP lifted its holdings in Caris Life Sciences by 6.8% in the fourth quarter. Braidwell LP now owns 7,816,142 shares of the company’s stock valued at $210,880,000 after acquiring an additional 500,000 shares during the period. PointState Capital LP purchased a new stake in Caris Life Sciences in the 2nd quarter worth approximately $121,690,000. BlackRock Inc. purchased a new stake in Caris Life Sciences in the 2nd quarter worth approximately $98,666,000. Finally, Orbimed Advisors LLC grew its stake in shares of Caris Life Sciences by 2.7% during the 4th quarter. Orbimed Advisors LLC now owns 3,116,011 shares of the company’s stock worth $84,070,000 after purchasing an additional 81,153 shares during the period.

Caris Life Sciences Stock Down 2.8%

Shares of CAI opened at $25.63 on Friday. The stock has a fifty day simple moving average of $19.27 and a two-hundred day simple moving average of $18.72. The company has a quick ratio of 4.88, a current ratio of 5.53 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $7.24 billion, a PE ratio of 71.19 and a beta of 0.68. Caris Life Sciences, Inc. has a 52-week low of $14.19 and a 52-week high of $39.18.

Caris Life Sciences announced that its board has approved a share buyback plan on Monday, June 8th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CAI. Robert W. Baird set a $22.00 target price on shares of Caris Life Sciences in a research note on Friday, May 8th. Wall Street Zen raised shares of Caris Life Sciences from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. BTIG Research upped their price objective on shares of Caris Life Sciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings upgraded Caris Life Sciences from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Finally, Evercore reaffirmed an “outperform” rating and set a $26.00 target price on shares of Caris Life Sciences in a research note on Thursday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.33.

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.