Renaissance Technologies LLC Acquires 120,000 Shares of Caris Life Sciences, Inc. $CAI

Renaissance Technologies LLC grew its holdings in Caris Life Sciences, Inc. (NASDAQ:CAI) by 36.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 449,900 shares of the company’s stock after acquiring an additional 120,000 shares during the quarter. Renaissance Technologies LLC owned 0.16% of Caris Life Sciences worth $8,044,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CAI. Sumitomo Mitsui Trust Group Inc. grew its position 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 purchasing an additional 15,778 shares during the period. Oak Ridge Investments LLC bought a new position in Caris Life Sciences in the fourth quarter valued at approximately $589,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Caris Life Sciences in the fourth quarter valued at approximately $370,000. GF Fund Management CO. LTD. acquired a new position in shares of Caris Life Sciences in the fourth quarter valued at approximately $150,000. Finally, TD Waterhouse Canada Inc. bought a new stake in shares of Caris Life Sciences during the fourth quarter worth $2,498,000.

Insider Transactions at Caris Life Sciences

In other news, Director Jeff L. Vacirca bought 31,050 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were bought 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 in the company, valued at $802,186.65. This trade represents a 166.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jon Halbert bought 68,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average price of $14.56 per share, with a total value 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. The trade was a 10.68% increase in their position. The disclosure for this purchase is available in the SEC filing. 50.00% of the stock is currently owned by corporate insiders.

Caris Life Sciences Stock Performance

NASDAQ CAI opened at $16.32 on Tuesday. The firm has a market capitalization of $4.61 billion, a P/E ratio of -2.14 and a beta of 0.68. The company has a current ratio of 7.05, a quick ratio of 6.52 and a debt-to-equity ratio of 0.64. The firm’s fifty day moving average price is $17.00 and its two-hundred day moving average price is $18.92. Caris Life Sciences, Inc. has a 1 year low of $14.19 and a 1 year high of $42.50.

Caris Life Sciences announced that its board has authorized a share repurchase 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 often an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CAI shares. Wolfe Research cut shares of Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 1st. Citigroup dropped their price target on Caris Life Sciences from $35.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Weiss Ratings raised Caris Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. BTIG Research reiterated a “buy” rating and set a $32.00 price objective on shares of Caris Life Sciences in a report on Thursday, July 2nd. Finally, Evercore set a $25.00 target price on Caris Life Sciences in a research report on Monday, July 6th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.11.

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.