Walleye Capital LLC Makes New Investment in Caris Life Sciences, Inc. $CAI

Walleye Capital LLC purchased a new position in shares of Caris Life Sciences, Inc. (NASDAQ:CAI) during the second quarter, Holdings Channel reports. The institutional investor purchased 424,407 shares of the company’s stock, valued at approximately $7,563,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in CAI. Renaissance Technologies LLC grew its holdings in 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. UBS Group AG raised its holdings in shares of Caris Life Sciences by 825.9% in the 4th quarter. UBS Group AG now owns 2,183,980 shares of the company’s stock valued at $58,924,000 after purchasing an additional 1,948,107 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Caris Life Sciences by 2,348.6% in the 1st quarter. Sei Investments Co. now owns 598,712 shares of the company’s stock valued at $10,705,000 after purchasing an additional 574,261 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Caris Life Sciences in the 4th quarter worth approximately $3,942,000. Finally, Lazard Asset Management LLC boosted its stake in shares of Caris Life Sciences by 26.0% during the first 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.

Analyst Ratings Changes

CAI has been the topic of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Caris Life Sciences in a report on Friday, August 7th. Wolfe Research lowered Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a report on Monday, June 1st. JPMorgan Chase & Co. dropped their target price on Caris Life Sciences from $35.00 to $30.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Evercore reiterated an “outperform” rating and issued a $26.00 price target on shares of Caris Life Sciences in a report on Thursday, August 6th. Finally, New Street Research initiated coverage on Caris Life Sciences in a research report on Friday, May 8th. They issued a “market perform” rating for the company. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. 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 1.7%

NASDAQ:CAI opened at $21.80 on Friday. The company’s 50-day simple moving average is $17.83 and its 200-day simple moving average is $18.64. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.88 and a current ratio of 5.53. Caris Life Sciences, Inc. has a fifty-two week low of $14.19 and a fifty-two week high of $42.50. The stock has a market capitalization of $6.16 billion, a P/E ratio of 60.56 and a beta of 0.68.

Caris Life Sciences announced that its Board of Directors has authorized a stock buyback plan 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 plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.