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

Caris Life Sciences (NASDAQ:CAI) had its price objective lifted by BTIG Research from $32.00 to $33.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price objective indicates a potential upside of 65.00% from the company’s previous close.

Several other equities analysts have also issued reports on CAI. Evercore reiterated an “outperform” rating and issued a $26.00 target price on shares of Caris Life Sciences in a research note on Thursday. New Street Research initiated coverage on shares of Caris Life Sciences in a research report on Friday, May 8th. They issued a “market perform” rating on the stock. Robert W. Baird set a $22.00 target price on shares of Caris Life Sciences in a research report on Friday, May 8th. Weiss Ratings raised shares of Caris Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Finally, Jefferies Financial Group started coverage on Caris Life Sciences in a research report on Monday, April 13th. They issued a “buy” rating and a $28.00 price objective for the company. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Caris Life Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.33.

Caris Life Sciences Stock Up 21.6%

Shares of NASDAQ CAI opened at $20.00 on Thursday. Caris Life Sciences has a 12-month low of $14.19 and a 12-month high of $42.50. The stock’s fifty day simple moving average is $17.10 and its two-hundred day simple moving average is $18.73. The stock has a market capitalization of $5.65 billion, a PE ratio of 55.56 and a beta of 0.68. The company has a current ratio of 7.05, a quick ratio of 6.52 and a debt-to-equity ratio of 0.64.

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

Insider Buying and Selling

In other Caris Life Sciences news, Director Jon Halbert purchased 68,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average price of $14.56 per share, for a total transaction of $990,080.00. Following the acquisition, the director owned 704,598 shares in the company, valued at $10,258,946.88. This represents a 10.68% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeff L. Vacirca acquired 31,050 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were acquired at an average price of $16.15 per share, with a total value of $501,457.50. Following the completion of the purchase, the director owned 49,671 shares in the company, valued at approximately $802,186.65. This trade represents a 166.75% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 50.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Caris Life Sciences

Hedge funds have recently added to or reduced their stakes in the business. UBS Group AG increased its holdings in Caris Life Sciences by 825.9% in the fourth quarter. UBS Group AG now owns 2,183,980 shares of the company’s stock valued at $58,924,000 after buying an additional 1,948,107 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Caris Life Sciences by 36.4% during the 1st quarter. Renaissance Technologies LLC now owns 449,900 shares of the company’s stock worth $8,044,000 after acquiring an additional 120,000 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Caris Life Sciences during the 4th quarter valued at about $3,942,000. Sei Investments Co. grew its position in shares of Caris Life Sciences by 2,348.6% during the 1st quarter. Sei Investments Co. now owns 598,712 shares of the company’s stock valued at $10,705,000 after acquiring an additional 574,261 shares during the period. Finally, Lazard Asset Management LLC increased its stake in shares of Caris Life Sciences by 26.0% in the 1st quarter. Lazard Asset Management LLC now owns 305,911 shares of the company’s stock valued at $5,470,000 after purchasing an additional 63,132 shares in the last quarter.

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.