Caris Life Sciences (NASDAQ:CAI) Trading Up 8.1% – Here’s What Happened

Caris Life Sciences, Inc. (NASDAQ:CAI)’s share price was up 8.1% on Thursday . The company traded as high as $16.32 and last traded at $16.7320. Approximately 99,914 shares traded hands during trading, a decline of 96% from the average daily volume of 2,537,484 shares. The stock had previously closed at $15.48.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CAI shares. The Goldman Sachs Group started coverage on shares of Caris Life Sciences in a report on Wednesday, April 1st. They set a “buy” rating and a $27.00 price target on the stock. Canaccord Genuity Group lowered their target price on shares of Caris Life Sciences from $30.00 to $22.00 and set a “hold” rating on the stock in a research note on Friday, March 13th. Piper Sandler started coverage on shares of Caris Life Sciences in a research note on Friday, April 10th. They issued a “neutral” rating and a $21.00 target price on the stock. Weiss Ratings upgraded shares of Caris Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Finally, BTIG Research lowered their target price on shares of Caris Life Sciences from $38.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $27.56.

Caris Life Sciences Stock Performance

The company has a quick ratio of 6.52, a current ratio of 7.05 and a debt-to-equity ratio of 0.64. The company has a market cap of $4.66 billion and a P/E ratio of -2.17. The stock has a 50-day simple moving average of $17.85.

Insider Transactions at Caris Life Sciences

In related news, Director Jeff L. Vacirca purchased 31,050 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $16.15 per share, for a total transaction of $501,457.50. Following the transaction, the director directly owned 49,671 shares of the company’s stock, valued at approximately $802,186.65. This trade represents a 166.75% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 50.00% of the stock is owned by corporate insiders.

Institutional Trading of Caris Life Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC raised its stake in shares of Caris Life Sciences by 99,900.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,000 shares of the company’s stock worth $27,000 after acquiring an additional 999 shares during the last quarter. Olistico Wealth LLC bought a new position in shares of Caris Life Sciences in the fourth quarter worth about $31,000. PNC Financial Services Group Inc. raised its stake in shares of 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. MetLife Investment Management LLC raised its stake in shares of Caris Life Sciences by 84.0% in the fourth quarter. MetLife Investment Management LLC now owns 1,654 shares of the company’s stock worth $45,000 after acquiring an additional 755 shares during the last quarter. Finally, Fifth Third Bancorp bought a new position in shares of Caris Life Sciences in the first quarter worth about $31,000.

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.