The Manufacturers Life Insurance Company Invests $848,000 in Caris Life Sciences, Inc. $CAI

The Manufacturers Life Insurance Company purchased a new stake in Caris Life Sciences, Inc. (NASDAQ:CAI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 47,595 shares of the company’s stock, valued at approximately $848,000.

Other hedge funds have also added to or reduced their stakes in the company. Global Retirement Partners LLC raised its stake in Caris Life Sciences by 99,900.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,000 shares of the company’s stock worth $27,000 after buying an additional 999 shares during the period. PNC Financial Services Group Inc. grew its stake in 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 valued at $29,000 after acquiring an additional 1,469 shares during the period. Fifth Third Bancorp bought a new stake in shares of Caris Life Sciences in the first quarter worth about $31,000. Sterling Capital Management LLC raised its position 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 worth $34,000 after purchasing an additional 1,083 shares during the period. Finally, Trifecta Capital Advisors LLC acquired a new stake in shares of Caris Life Sciences during the second quarter worth about $37,000.

Insider Buying and Selling

In other Caris Life Sciences news, President David Baxley Spetzler sold 119,212 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $24.76, for a total transaction of $2,951,689.12. Following the completion of the transaction, the president owned 1,182,871 shares of the company’s stock, valued at $29,287,885.96. This represents a 9.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 50.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CAI. Evercore reiterated an “outperform” rating and issued a $26.00 price objective on shares of Caris Life Sciences in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Caris Life Sciences from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 21st. Wall Street Zen raised shares of Caris Life Sciences from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Wolfe Research cut shares of Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a report on Monday, June 1st. Finally, BTIG Research increased their price objective 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, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.33.

Caris Life Sciences Stock Down 1.0%

CAI stock opened at $25.07 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 5.53 and a quick ratio of 4.88. The stock has a market capitalization of $7.08 billion, a P/E ratio of 69.64 and a beta of 1.10. Caris Life Sciences, Inc. has a fifty-two week low of $14.19 and a fifty-two week high of $36.65. The business has a 50-day moving average of $19.98 and a 200-day moving average of $18.85.

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

Caris Life Sciences 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.