Caris Life Sciences (NASDAQ:CAI) Upgraded to Hold at UBS Group

UBS Group upgraded shares of Caris Life Sciences (NASDAQ:CAI) to a hold rating in a report released on Wednesday morning,Zacks reports.

Several other research analysts have also commented on CAI. BTIG Research lifted their price target on Caris Life Sciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Evercore reaffirmed an “outperform” rating and issued a $26.00 price objective 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 report on Friday, August 21st. Wall Street Zen raised Caris Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. Finally, Wolfe Research downgraded Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 1st. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.50.

Caris Life Sciences Stock Performance

Caris Life Sciences stock opened at $24.34 on Wednesday. The company’s 50-day moving average price is $20.59 and its 200-day moving average price is $18.98. The company has a quick ratio of 4.88, a current ratio of 5.53 and a debt-to-equity ratio of 0.66. The company has a market cap of $6.88 billion, a PE ratio of 67.61 and a beta of 1.10. Caris Life Sciences has a twelve month low of $14.19 and a twelve month high of $34.75.

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

Insider Activity

In other news, President David Spetzler sold 478,000 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $24.86, for a total transaction of $11,883,080.00. Following the transaction, the president owned 1,052,083 shares of the company’s stock, valued at approximately $26,154,783.38. This represents a 31.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 50.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Caris Life Sciences

Several hedge funds have recently bought and sold shares of the business. Menlo Advisors LLC bought a new stake in shares of Caris Life Sciences during the second quarter worth $5,355,000. MCF Advisors LLC purchased a new position in Caris Life Sciences in the 2nd quarter worth about $36,000. WINTON GROUP Ltd bought a new stake in Caris Life Sciences during the 2nd quarter valued at about $264,000. Squarepoint Ops LLC purchased a new stake in Caris Life Sciences in the 2nd quarter valued at about $6,788,000. Finally, Corient Private Wealth LP purchased a new stake in Caris Life Sciences in the 2nd quarter valued at about $316,000.

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.