Caris Life Sciences, Inc. (NASDAQ:CAI) Receives Average Rating of “Hold” from Brokerages

Shares of Caris Life Sciences, Inc. (NASDAQ:CAI) have been assigned an average recommendation of “Hold” from the eleven analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $26.1111.

Several research analysts recently issued reports on CAI shares. The Goldman Sachs Group initiated coverage on Caris Life Sciences in a research report on Wednesday, April 1st. They set a “buy” rating and a $27.00 target price for the company. Piper Sandler assumed coverage on shares of Caris Life Sciences in a research report on Friday, April 10th. They set a “neutral” rating and a $21.00 target price on the stock. Wolfe Research cut Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a report on Monday, June 1st. Evercore set a $25.00 price target on shares of Caris Life Sciences in a research report on Monday, July 6th. Finally, Wall Street Zen downgraded shares of Caris Life Sciences from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd.

Insider Activity

In other news, Director Jon Halbert bought 68,000 shares of the stock in a transaction on Friday, May 15th. The shares were purchased at an average cost of $14.56 per share, for a total transaction of $990,080.00. Following the completion of the purchase, the director directly owned 704,598 shares in the company, valued at $10,258,946.88. This represents a 10.68% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeff L. Vacirca acquired 31,050 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $16.15 per share, for a total transaction of $501,457.50. Following the completion of the purchase, the director directly owned 49,671 shares in the company, valued at $802,186.65. This trade represents a 166.75% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 50.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Caris Life Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. Diversified Trust Co. bought a new stake in shares of Caris Life Sciences during the 4th quarter valued at $540,000. Olistico Wealth LLC purchased a new position in Caris Life Sciences during the fourth quarter worth about $31,000. Zevenbergen Capital Investments LLC bought a new position in Caris Life Sciences in the 4th quarter worth about $14,655,000. Hamilton Lane Advisors LLC purchased a new stake in shares of Caris Life Sciences in the 4th quarter valued at about $1,584,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Caris Life Sciences by 26.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 75,330 shares of the company’s stock valued at $2,032,000 after acquiring an additional 15,778 shares in the last quarter.

Caris Life Sciences Stock Performance

Caris Life Sciences stock opened at $16.95 on Friday. The business has a 50 day moving average of $17.04 and a 200-day moving average of $20.06. The company has a market capitalization of $4.79 billion and a P/E ratio of -2.23. Caris Life Sciences has a 1 year low of $14.19 and a 1 year high of $42.50. The company has a debt-to-equity ratio of 0.64, a current ratio of 7.05 and a quick ratio of 6.52.

Caris Life Sciences announced that its Board of Directors has approved a share buyback program on Monday, June 8th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.