Caris Life Sciences (NASDAQ:CAI) Shares Up 6.5% – What’s Next?

Shares of Caris Life Sciences, Inc. (NASDAQ:CAI) rose 6.5% during trading on Monday . The stock traded as high as $15.70 and last traded at $15.4980. Approximately 464,020 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 2,525,124 shares. The stock had previously closed at $14.55.

Analysts Set New Price Targets

Several research firms recently issued reports on CAI. Canaccord Genuity Group cut their price target on shares of Caris Life Sciences from $30.00 to $22.00 and set a “hold” rating for the company in a report on Friday, March 13th. Piper Sandler began coverage on Caris Life Sciences in a report on Friday, April 10th. They issued a “neutral” rating and a $21.00 price objective on the stock. Citigroup cut their target price on Caris Life Sciences from $35.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Robert W. Baird set a $22.00 price target on Caris Life Sciences in a report on Friday, May 8th. Finally, Weiss Ratings upgraded Caris Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $27.56.

Caris Life Sciences Stock Performance

The company has a debt-to-equity ratio of 0.64, a quick ratio of 6.52 and a current ratio of 7.05. The company’s fifty day moving average price is $18.66. The company has a market cap of $4.26 billion and a price-to-earnings ratio of -1.98.

Caris Life Sciences (NASDAQ:CAI) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.27. Caris Life Sciences had a net margin of 3.75% and a return on equity of 98.28%. The firm had revenue of $292.89 million for the quarter, compared to the consensus estimate of $281.00 million. During the same quarter in the previous year, the firm earned ($1.73) earnings per share. The firm’s revenue was up 125.4% on a year-over-year basis. Sell-side analysts forecast that Caris Life Sciences, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Caris Life Sciences

In other news, Director Jeff L. Vacirca purchased 31,050 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average price of $16.15 per share, for a total transaction of $501,457.50. Following the acquisition, the director directly owned 49,671 shares in the company, valued at approximately $802,186.65. The trade was a 166.75% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Trading of Caris Life Sciences

Several large investors have recently bought and sold shares of CAI. The Manufacturers Life Insurance Company raised its stake in shares of Caris Life Sciences by 50.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 153,512 shares of the company’s stock worth $2,745,000 after buying an additional 51,696 shares during the last quarter. Quantinno Capital Management LP grew its stake in Caris Life Sciences by 117.0% in the 1st quarter. Quantinno Capital Management LP now owns 140,909 shares of the company’s stock valued at $2,519,000 after acquiring an additional 75,987 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Caris Life Sciences by 26.0% during the 1st quarter. Lazard Asset Management LLC now owns 305,911 shares of the company’s stock valued at $5,470,000 after acquiring an additional 63,132 shares in the last quarter. Entropy Technologies LP acquired a new position in Caris Life Sciences during the first quarter worth about $724,000. Finally, Renaissance Technologies LLC raised its position in Caris Life Sciences by 36.4% during the first quarter. Renaissance Technologies LLC now owns 449,900 shares of the company’s stock worth $8,044,000 after acquiring an additional 120,000 shares during the last quarter.

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.