Caris Life Sciences (NASDAQ:CAI) President Sells 119,212 Shares of Stock

Caris Life Sciences, Inc. (NASDAQ:CAI) President David Baxley Spetzler sold 119,212 shares of the business’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $24.76, for a total value of $2,951,689.12. Following the transaction, the president directly owned 1,182,871 shares in the company, valued at $29,287,885.96. This trade represents a 9.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

David Baxley Spetzler also recently made the following trade(s):

• On Thursday, September 3rd, David Baxley Spetzler sold 478,000 shares of Caris Life Sciences stock. The stock was sold at an average price of $24.86, for a total transaction of $11,883,080.00.

Caris Life Sciences Trading Down 1.0%

Shares of CAI stock traded down $0.25 during trading on Friday, hitting $25.07. 4,711,249 shares of the stock traded hands, compared to its average volume of 3,206,680. Caris Life Sciences, Inc. has a 52-week low of $14.19 and a 52-week high of $36.65. The firm has a market capitalization of $7.08 billion, a P/E ratio of 69.64 and a beta of 1.10. The firm’s fifty day moving average price is $19.85 and its 200-day moving average price is $18.80. The company has a debt-to-equity ratio of 0.66, a current ratio of 5.53 and a quick ratio of 4.88.

Caris Life Sciences declared that its Board of Directors has authorized a stock buyback program on Monday, June 8th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Caris Life Sciences

Large investors have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. boosted its stake in shares of 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 valued at $248,377,000 after buying an additional 1,180,200 shares during the period. Braidwell LP increased its holdings in Caris Life Sciences by 3.1% in the second quarter. Braidwell LP now owns 8,256,032 shares of the company’s stock valued at $147,122,000 after buying an additional 246,585 shares during the last quarter. PointState Capital LP acquired a new stake in shares of Caris Life Sciences during the 2nd quarter worth about $121,690,000. BlackRock Inc. acquired a new stake in Caris Life Sciences during the second quarter worth approximately $98,666,000. Finally, California State Teachers Retirement System lifted its position in Caris Life Sciences by 64,861.8% in the second quarter. California State Teachers Retirement System now owns 3,249,388 shares of the company’s stock valued at $57,904,000 after acquiring an additional 3,244,386 shares during the last quarter.

Wall Street Analysts Forecast Growth

CAI has been the topic of several recent analyst reports. Citigroup decreased 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. Evercore restated an “outperform” rating and set a $26.00 price target on shares of Caris Life Sciences in a research note on Thursday, August 6th. Weiss Ratings upgraded Caris Life Sciences from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Robert W. Baird set a $22.00 price objective on Caris Life Sciences in a report on Friday, May 8th. Finally, Wall Street Zen raised Caris Life Sciences from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Caris Life Sciences presently has an average rating of “Moderate Buy” and an average target price of $26.33.

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.