Insider Selling: Caris Life Sciences (NASDAQ:CAI) Insider Sells $238,650.00 in Stock

Caris Life Sciences, Inc. (NASDAQ:CAI) insider John Russel Denton sold 7,500 shares of the stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $31.82, for a total transaction of $238,650.00. Following the completion of the transaction, the insider directly owned 174,855 shares of the company’s stock, valued at approximately $5,563,886.10. This trade represents a 4.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Caris Life Sciences Price Performance

Shares of CAI stock traded up $0.18 during midday trading on Wednesday, reaching $31.65. 4,359,655 shares of the company traded hands, compared to its average volume of 3,367,892. The firm’s 50 day simple moving average is $22.28 and its two-hundred day simple moving average is $19.49. The firm has a market cap of $8.94 billion, a PE ratio of 87.92 and a beta of 1.10. 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, Inc. has a 1-year low of $14.19 and a 1-year high of $33.65.

Caris Life Sciences declared that its board has authorized a stock repurchase plan on Monday, June 8th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are often a sign 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. PNC Financial Services Group Inc. raised its holdings 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. Fifth Third Bancorp acquired a new stake in shares of Caris Life Sciences during the first quarter valued at $31,000. Sterling Capital Management LLC boosted its stake in shares of Caris Life Sciences by 128.3% during the first quarter. Sterling Capital Management LLC now owns 1,927 shares of the company’s stock valued at $34,000 after acquiring an additional 1,083 shares during the last quarter. MCF Advisors LLC purchased a new stake in Caris Life Sciences during the 2nd quarter worth about $36,000. Finally, Trifecta Capital Advisors LLC acquired a new position in Caris Life Sciences in the 2nd quarter valued at about $37,000.

Wall Street Analysts Forecast Growth

CAI has been the topic of several research reports. Evercore reissued an “outperform” rating and issued a $26.00 target price on shares of Caris Life Sciences in a report on Thursday, August 6th. Wall Street Zen raised Caris Life Sciences from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Wolfe Research lowered shares of Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 1st. UBS Group assumed coverage on shares of Caris Life Sciences in a research note on Wednesday, September 9th. They issued a “neutral” rating and a $28.00 price objective on the stock. Finally, BTIG Research lifted their target price on shares of Caris Life Sciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $26.50.

Caris Life Sciences Company Profile

Caris Life Sciences is a precision medicine and biotechnology company headquartered in Irving, Texas. Founded in 2008, the company combines molecular profiling, artificial intelligence and clinical data to support more informed decisions in cancer diagnosis and treatment.

Caris provides comprehensive tumor profiling and other laboratory testing services designed to identify genetic, molecular and immune characteristics of a patient’s cancer. Its offerings are intended to help physicians match patients with targeted therapies, immunotherapies and clinical trials, while also supporting cancer research and drug development.

The company serves healthcare providers, biopharmaceutical companies and academic or research institutions.