Sei Investments Co. Raises Holdings in Caris Life Sciences, Inc. $CAI

Sei Investments Co. raised its stake in Caris Life Sciences, Inc. (NASDAQ:CAI) by 2,348.6% during the first quarter, Holdings Channel.com reports. The firm owned 598,712 shares of the company’s stock after purchasing an additional 574,261 shares during the quarter. Sei Investments Co.’s holdings in Caris Life Sciences were worth $10,705,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Global Retirement Partners LLC grew its position in shares of Caris Life Sciences by 99,900.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,000 shares of the company’s stock worth $27,000 after buying an additional 999 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Caris Life Sciences by 839.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,644 shares of the company’s stock worth $29,000 after acquiring an additional 1,469 shares during the last quarter. Fifth Third Bancorp acquired a new position in Caris Life Sciences during the 1st quarter worth approximately $31,000. Sterling Capital Management LLC lifted its position in shares of Caris Life Sciences by 128.3% during the 1st quarter. Sterling Capital Management LLC now owns 1,927 shares of the company’s stock worth $34,000 after purchasing an additional 1,083 shares during the last quarter. Finally, Strs Ohio grew its stake in shares of Caris Life Sciences by 301.3% during the first quarter. Strs Ohio now owns 2,179 shares of the company’s stock worth $39,000 after purchasing an additional 1,636 shares in the last quarter.

Caris Life Sciences Price Performance

Shares of CAI opened at $15.67 on Friday. 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, Inc. has a 1-year low of $14.19 and a 1-year high of $42.50. The stock has a market cap of $4.43 billion and a PE ratio of -2.06. The firm has a fifty day moving average price of $16.99 and a 200 day moving average price of $19.04.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CAI shares. Wolfe Research downgraded Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a report on Monday, June 1st. JPMorgan Chase & Co. dropped their price objective on Caris Life Sciences from $35.00 to $30.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Wall Street Zen lowered Caris Life Sciences from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Jefferies Financial Group initiated coverage on Caris Life Sciences in a research note on Monday, April 13th. They set a “buy” rating and a $28.00 target price for the company. Finally, New Street Research assumed coverage on Caris Life Sciences in a report on Friday, May 8th. They issued a “market perform” rating for the company. Six 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. Based on data from MarketBeat, Caris Life Sciences currently has an average rating of “Hold” and a consensus target price of $26.11.

Insider Transactions at Caris Life Sciences

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

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.