Caris Life Sciences (NASDAQ:CAI) Stock Price Target Raised at Piper Sandler

Caris Life Sciences (NASDAQ:CAI) had its price objective lifted by equities researchers at Piper Sandler from $22.00 to $25.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler‘s target price suggests a potential downside of 2.23% from the stock’s current price.

Several other equities research analysts also recently commented on CAI. Citigroup upped their price objective on shares of Caris Life Sciences from $28.00 to $36.00 and gave the company a “buy” rating in a report on Friday. TD Cowen lifted their target price on shares of Caris Life Sciences from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group set a $38.00 price target on shares of Caris Life Sciences in a research report on Thursday. Weiss Ratings cut shares of Caris Life Sciences from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, October 2nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Caris Life Sciences from $25.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, October 14th. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.18.

Caris Life Sciences Stock Performance

Shares of CAI opened at $25.57 on Tuesday. The firm has a market cap of $7.33 billion, a PE ratio of 77.48 and a beta of 0.71. The stock’s fifty day moving average price is $29.48 and its two-hundred day moving average price is $21.74. The company has a debt-to-equity ratio of 0.66, a current ratio of 5.53 and a quick ratio of 4.88. Caris Life Sciences has a 1 year low of $14.19 and a 1 year high of $36.50.

Caris Life Sciences (NASDAQ:CAI) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. The company had revenue of $275.36 million during the quarter. Caris Life Sciences had a return on equity of 16.35% and a net margin of 9.16%. The firm’s revenue was up 27.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS. On average, equities research analysts forecast that Caris Life Sciences will post 0.11 EPS for the current year.

Insider Activity at Caris Life Sciences

In related news, insider Brian Brille sold 400,000 shares of the stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $30.33, for a total transaction of $12,132,000.00. Following the sale, the insider owned 230,303 shares of the company’s stock, valued at approximately $6,985,089.99. This represents a 63.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Russel Denton sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $31.82, for a total value of $238,650.00. Following the completion of the transaction, the insider owned 174,855 shares of the company’s stock, valued at approximately $5,563,886.10. This represents a 4.11% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,004,712 shares of company stock worth $27,205,419. 50.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Caris Life Sciences

Large investors have recently modified their holdings of the company. Renaissance Technologies LLC increased its position in shares of Caris Life Sciences by 36.4% in the first quarter. Renaissance Technologies LLC now owns 449,900 shares of the company’s stock worth $8,044,000 after purchasing an additional 120,000 shares during the last quarter. Maxi Investments CY Ltd purchased a new stake in Caris Life Sciences in the second quarter valued at approximately $3,754,000. Moore Capital Management LP purchased a new stake in Caris Life Sciences in the second quarter valued at approximately $1,139,000. Sei Investments Co. lifted its position in Caris Life Sciences by 2,348.6% during the first quarter. Sei Investments Co. now owns 598,712 shares of the company’s stock valued at $10,705,000 after purchasing an additional 574,261 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in Caris Life Sciences during the second quarter valued at approximately $848,000.

Caris Life Sciences Company Profile

Caris Life Sciences is a precision medicine company that develops molecular profiling and artificial intelligence technologies to support cancer diagnosis and treatment decisions. Its services analyze the biological characteristics of a patient’s tumor to help physicians identify information that may guide care.

The company’s offerings include tumor profiling based on DNA and RNA analysis, as well as blood-based testing. Caris also provides molecular data and research services to biopharmaceutical companies to support drug development and the study of cancer.

Founded in 2008 by David D.