Caris Life Sciences (NASDAQ:CAI) Stock Price Up 7.7% Following Insider Buying Activity

Caris Life Sciences, Inc. (NASDAQ:CAI) shares traded up 7.7% on Tuesday following insider buying activity. The company traded as high as $16.77 and last traded at $17.1720. 348,085 shares traded hands during trading, a decline of 86% from the average session volume of 2,431,086 shares. The stock had previously closed at $15.94.

Specifically, Director Jeff L. Vacirca bought 31,050 shares of the company’s stock in a transaction on Monday, May 11th. The stock was bought at an average cost of $16.15 per share, for a total transaction of $501,457.50. Following the acquisition, the director directly owned 49,671 shares in the company, valued at $802,186.65. This represents a 166.75% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CAI shares. Canaccord Genuity Group reduced their price target on Caris Life Sciences from $30.00 to $22.00 and set a “hold” rating on the stock in a report on Friday, March 13th. BTIG Research cut their price objective on shares of Caris Life Sciences from $38.00 to $32.00 and set a “buy” rating for the company in a research report on Friday. Piper Sandler began coverage on shares of Caris Life Sciences in a research note on Friday, April 10th. They set a “neutral” rating and a $21.00 target price on the stock. Jefferies Financial Group began coverage on Caris Life Sciences in a research note on Monday, April 13th. They issued a “buy” rating and a $28.00 price target on the stock. Finally, Citigroup lowered their price objective on shares of Caris Life Sciences from $35.00 to $28.00 and set a “buy” rating for the company in a research report on Friday. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.56.

Caris Life Sciences Stock Performance

The firm has a market capitalization of $4.78 billion and a price-to-earnings ratio of -2.23. The company has a quick ratio of 7.35, a current ratio of 7.85 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $19.04.

Caris Life Sciences (NASDAQ:CAI) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.27. Caris Life Sciences had a net margin of 3.75% and a return on equity of 102.71%. The business had revenue of $292.89 million during the quarter, compared to the consensus estimate of $281.00 million. During the same quarter in the previous year, the firm earned ($1.73) EPS. The company’s revenue was up 125.4% compared to the same quarter last year. On average, research analysts expect that Caris Life Sciences, Inc. will post 0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Caris Life Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. grew its position in Caris Life Sciences by 14.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,205,959 shares of the company’s stock worth $248,377,000 after purchasing an additional 1,180,200 shares during the last quarter. Braidwell LP grew its holdings in shares of Caris Life Sciences by 6.8% during the fourth quarter. Braidwell LP now owns 7,816,142 shares of the company’s stock worth $210,880,000 after buying an additional 500,000 shares during the last quarter. PointState Capital LP increased its position in Caris Life Sciences by 73.0% in the 4th quarter. PointState Capital LP now owns 6,718,707 shares of the company’s stock valued at $181,271,000 after acquiring an additional 2,834,986 shares during the period. Orbimed Advisors LLC raised its stake in Caris Life Sciences by 2.7% during the 4th quarter. Orbimed Advisors LLC now owns 3,116,011 shares of the company’s stock valued at $84,070,000 after acquiring an additional 81,153 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Caris Life Sciences by 185.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,445,281 shares of the company’s stock worth $65,974,000 after acquiring an additional 1,587,176 shares during the period.

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.