Rock Springs Capital Management LP Sells 124,500 Shares of Caris Life Sciences, Inc. $CAI

Rock Springs Capital Management LP decreased its position in shares of Caris Life Sciences, Inc. (NASDAQ:CAI) by 18.1% in the first quarter, Holdings Channel reports. The fund owned 563,000 shares of the company’s stock after selling 124,500 shares during the period. Rock Springs Capital Management LP’s holdings in Caris Life Sciences were worth $10,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in CAI. PointState Capital LP increased its stake in shares of Caris Life Sciences by 73.0% in the fourth quarter. PointState Capital LP now owns 6,718,707 shares of the company’s stock worth $181,271,000 after purchasing an additional 2,834,986 shares during the period. UBS Group AG boosted its stake in Caris Life Sciences by 825.9% during the 4th quarter. UBS Group AG now owns 2,183,980 shares of the company’s stock valued at $58,924,000 after purchasing an additional 1,948,107 shares during the period. Balyasny Asset Management L.P. grew its holdings in Caris Life Sciences by 23,902.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,660,280 shares of the company’s stock valued at $44,794,000 after buying an additional 1,653,363 shares during the last quarter. JPMorgan Chase & Co. increased its position in Caris Life Sciences by 185.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,445,281 shares of the company’s stock worth $65,974,000 after buying an additional 1,587,176 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its position in Caris Life Sciences by 14.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,205,959 shares of the company’s stock worth $248,377,000 after buying an additional 1,180,200 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Weiss Ratings raised Caris Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. dropped their target price on shares of Caris Life Sciences from $35.00 to $30.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Jefferies Financial Group started coverage on shares of 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. BTIG Research restated a “buy” rating and issued a $32.00 price target on shares of Caris Life Sciences in a research report on Thursday, July 2nd. Finally, Citigroup dropped their price objective on shares of Caris Life Sciences from $35.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $26.11.

Insider Buying and Selling at Caris Life Sciences

In other news, Director Jon Halbert bought 68,000 shares of Caris Life Sciences 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 directly owned 704,598 shares in the company, valued at $10,258,946.88. This trade represents a 10.68% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeff L. Vacirca purchased 31,050 shares of the firm’s stock in a transaction 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 purchase, the director directly owned 49,671 shares of the company’s stock, valued at approximately $802,186.65. This represents a 166.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 50.00% of the stock is owned by company insiders.

Caris Life Sciences Price Performance

Shares of NASDAQ:CAI opened at $15.63 on Tuesday. The firm has a market capitalization of $4.42 billion and a PE ratio of -2.05. The company has a current ratio of 7.05, a quick ratio of 6.52 and a debt-to-equity ratio of 0.64. Caris Life Sciences, Inc. has a 1-year low of $14.19 and a 1-year high of $42.50. The business’s 50 day moving average is $16.97 and its 200-day moving average is $19.34.

Caris Life Sciences announced that its Board of Directors has authorized a stock repurchase plan on Monday, June 8th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

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.