Insider Selling: Caris Life Sciences (NASDAQ:CAI) Insider Sells 400,000 Shares of Stock

Caris Life Sciences, Inc. (NASDAQ:CAI) insider Brian Brille sold 400,000 shares of the stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $30.33, for a total value of $12,132,000.00. Following the transaction, the insider directly owned 230,303 shares of the company’s stock, valued at $6,985,089.99. The trade was a 63.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Caris Life Sciences Price Performance

Shares of NASDAQ CAI traded up $2.71 during midday trading on Thursday, hitting $30.92. The stock had a trading volume of 7,658,523 shares, compared to its average volume of 3,267,607. 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 stock has a 50 day simple moving average of $21.20 and a 200-day simple moving average of $19.18. The company has a market capitalization of $8.74 billion, a PE ratio of 85.89 and a beta of 1.10. Caris Life Sciences, Inc. has a 1 year low of $14.19 and a 1 year high of $34.54.

Caris Life Sciences declared that its Board of Directors has authorized a share repurchase plan on Monday, June 8th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have recently issued reports on CAI. Wolfe Research lowered shares of Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a report on Monday, June 1st. Evercore restated an “outperform” rating and set a $26.00 price target on shares of Caris Life Sciences in a research report on Thursday, August 6th. BTIG Research increased their price objective on shares of Caris Life Sciences from $32.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Weiss Ratings raised shares of Caris Life Sciences from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday. Finally, UBS Group initiated coverage on Caris Life Sciences in a research report on Wednesday, September 9th. They issued a “neutral” rating and a $28.00 price target for the company. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $26.50.

Hedge Funds Weigh In On Caris Life Sciences

Institutional investors and hedge funds have recently bought and sold shares of the company. Braidwell LP increased its holdings in shares of Caris Life Sciences by 3.1% during the 2nd quarter. Braidwell LP now owns 8,256,032 shares of the company’s stock worth $147,122,000 after buying an additional 246,585 shares during the last quarter. PointState Capital LP acquired a new stake in Caris Life Sciences during the second quarter worth $121,690,000. BlackRock Inc. purchased a new stake in Caris Life Sciences in the second quarter valued at $98,666,000. Clearbridge Investments LLC increased its position in shares of Caris Life Sciences by 2.5% during the 4th quarter. Clearbridge Investments LLC now owns 1,416,207 shares of the company’s stock worth $38,209,000 after purchasing an additional 34,977 shares during the last quarter. Finally, Perceptive Advisors LLC raised its holdings in Caris Life Sciences by 3.5% in the 4th quarter. Perceptive Advisors LLC now owns 1,136,206 shares of the company’s stock valued at $30,655,000 after buying an additional 38,043 shares during the period.

Caris Life Sciences Company Profile

Caris Life Sciences is a precision medicine and biotechnology company headquartered in Irving, Texas. Founded in 2008, the company combines molecular profiling, artificial intelligence and clinical data to support more informed decisions in cancer diagnosis and treatment.

Caris provides comprehensive tumor profiling and other laboratory testing services designed to identify genetic, molecular and immune characteristics of a patient’s cancer. Its offerings are intended to help physicians match patients with targeted therapies, immunotherapies and clinical trials, while also supporting cancer research and drug development.

The company serves healthcare providers, biopharmaceutical companies and academic or research institutions.