Citigroup Forecasts Strong Price Appreciation for Caris Life Sciences (NASDAQ:CAI) Stock

Caris Life Sciences (NASDAQ:CAI) had its price objective boosted by investment analysts at Citigroup from $28.00 to $36.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup‘s target price suggests a potential upside of 42.69% from the company’s previous close.

Several other equities research analysts also recently issued reports on CAI. Canaccord Genuity Group increased their price target on Caris Life Sciences from $22.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, October 19th. Wall Street Zen upgraded Caris Life Sciences from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. JPMorgan Chase & Co. lifted their price objective on Caris Life Sciences from $25.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, October 14th. Evercore restated an “outperform” rating and set a $26.00 target price on shares of Caris Life Sciences in a report on Thursday, August 6th. Finally, Weiss Ratings lowered shares of Caris Life Sciences from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, October 2nd. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.82.

Caris Life Sciences Trading Down 3.1%

Shares of CAI traded down $0.80 during trading hours on Friday, reaching $25.23. The stock had a trading volume of 10,229,969 shares, compared to its average volume of 3,451,045. The company has a quick ratio of 4.88, a current ratio of 5.53 and a debt-to-equity ratio of 0.66. Caris Life Sciences has a 52 week low of $14.19 and a 52 week high of $36.50. The firm has a 50-day moving average of $29.50 and a 200 day moving average of $21.74. The company has a market cap of $7.13 billion, a P/E ratio of 76.45 and a beta of 0.71.

Caris Life Sciences (NASDAQ:CAI) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. The business had revenue of $275.36 million for the quarter. Caris Life Sciences had a return on equity of 16.35% and a net margin of 9.16%. The business’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.08 EPS. On average, sell-side analysts expect that Caris Life Sciences will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Caris Life Sciences

In other Caris Life Sciences news, President David 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. Also, insider Brian Brille sold 400,000 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $30.33, for a total value of $12,132,000.00. Following the transaction, the insider directly owned 230,303 shares of the company’s stock, valued at approximately $6,985,089.99. This trade represents a 63.46% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,004,712 shares of company stock worth $27,205,419. Corporate insiders own 50.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC increased its stake in Caris Life Sciences by 2.5% in the 3rd quarter. Kestra Advisory Services LLC now owns 28,801 shares of the company’s stock valued at $882,000 after buying an additional 711 shares during the last quarter. GAMMA Investing LLC lifted its position in Caris Life Sciences by 133.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,263 shares of the company’s stock worth $39,000 after buying an additional 721 shares in the last quarter. Sterling Capital Management LLC lifted its position in Caris Life Sciences by 128.3% during the 1st quarter. Sterling Capital Management LLC now owns 1,927 shares of the company’s stock worth $34,000 after buying an additional 1,083 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Caris Life Sciences by 839.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,644 shares of the company’s stock worth $29,000 after buying an additional 1,469 shares during the last quarter. Finally, Strs Ohio boosted its stake in shares of Caris Life Sciences by 301.3% during the 1st quarter. Strs Ohio now owns 2,179 shares of the company’s stock worth $39,000 after buying an additional 1,636 shares during the last quarter.

About Caris Life Sciences

Caris Life Sciences is a biotechnology and precision-medicine company that uses molecular profiling and artificial intelligence to support cancer diagnosis, treatment selection and drug development. The company analyzes tumor and blood samples to identify genomic, molecular and immune characteristics that may help physicians better understand a patient’s disease and select targeted therapies.

Its offerings include comprehensive tumor profiling, liquid-biopsy testing and data-driven clinical decision-support tools.