Caris Life Sciences, Inc. (NASDAQ:CAI) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Caris Life Sciences, Inc. (NASDAQ:CAI) have received an average rating of “Hold” from the eleven brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $26.1111.

CAI has been the topic of a number of research reports. Weiss Ratings raised shares of Caris Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Wolfe Research downgraded Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a report on Monday, June 1st. BTIG Research reissued a “buy” rating and issued a $32.00 price objective on shares of Caris Life Sciences in a research report on Thursday, July 2nd. Jefferies Financial Group assumed coverage on Caris Life Sciences in a research note on Monday, April 13th. They set a “buy” rating and a $28.00 price objective on the stock. Finally, Evercore set a $25.00 target price on Caris Life Sciences in a research report on Monday, July 6th.

Caris Life Sciences Price Performance

CAI opened at $16.32 on Tuesday. The company has a quick ratio of 6.52, a current ratio of 7.05 and a debt-to-equity ratio of 0.64. Caris Life Sciences has a 52-week low of $14.19 and a 52-week high of $42.50. The company has a 50 day moving average of $17.00 and a two-hundred day moving average of $18.92. The company has a market cap of $4.61 billion, a P/E ratio of -2.14 and a beta of 0.68.

Caris Life Sciences declared that its board has approved a stock repurchase program on Monday, June 8th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Jon Halbert acquired 68,000 shares of the stock in a transaction on Friday, May 15th. The stock was bought at an average price 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 of the company’s stock, valued at $10,258,946.88. The trade was a 10.68% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jeff L. Vacirca acquired 31,050 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were purchased 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 trade 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 corporate insiders.

Hedge Funds Weigh In On Caris Life Sciences

A number of hedge funds have recently bought and sold shares of CAI. T. Rowe Price Investment Management Inc. grew its stake in Caris Life Sciences by 14.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,205,959 shares of the company’s stock worth $248,377,000 after purchasing an additional 1,180,200 shares in the last quarter. Braidwell LP raised its stake in Caris Life Sciences by 6.8% during the fourth quarter. Braidwell LP now owns 7,816,142 shares of the company’s stock valued at $210,880,000 after buying an additional 500,000 shares in the last quarter. PointState Capital LP lifted its holdings in Caris Life Sciences by 73.0% during the 4th quarter. PointState Capital LP now owns 6,718,707 shares of the company’s stock worth $181,271,000 after buying an additional 2,834,986 shares during the last quarter. Orbimed Advisors LLC grew its position in shares of Caris Life Sciences by 2.7% in the 4th quarter. Orbimed Advisors LLC now owns 3,116,011 shares of the company’s stock worth $84,070,000 after acquiring an additional 81,153 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of 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 acquiring an additional 1,587,176 shares in 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.