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

UBS Group upgraded shares of Caris Life Sciences (NASDAQ:CAI) to a hold rating in a research note issued to investors on Wednesday,Zacks reports.

A number of other research firms also recently issued reports on CAI. Wolfe Research downgraded shares of Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a report on Monday, June 1st. Evercore reiterated an “outperform” rating and issued a $26.00 price target on shares of Caris Life Sciences in a research report on Thursday, August 6th. Wall Street Zen raised shares of Caris Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. Weiss Ratings upgraded Caris Life Sciences from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Finally, BTIG Research upped 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. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.50.

Caris Life Sciences Trading Up 1.2%

Caris Life Sciences stock opened at $24.34 on Wednesday. Caris Life Sciences has a 52-week low of $14.19 and a 52-week high of $34.75. The company has a market cap of $6.88 billion, a P/E ratio of 67.61 and a beta of 1.10. 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 business has a 50-day simple moving average of $20.59 and a two-hundred day simple moving average of $18.98.

Caris Life Sciences announced that its Board of Directors has initiated a share buyback program on Monday, June 8th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 2.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, President David Spetzler sold 119,212 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $24.76, for a total value of $2,951,689.12. Following the transaction, the president directly owned 1,182,871 shares in the company, valued at $29,287,885.96. The trade was a 9.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 50.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Caris Life Sciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ProShare Advisors LLC bought a new position in Caris Life Sciences in the 4th quarter worth approximately $336,000. Global Retirement Partners LLC raised its position in shares of Caris Life Sciences by 99,900.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,000 shares of the company’s stock valued at $27,000 after buying an additional 999 shares during the last quarter. Seven Grand Managers LLC lifted its holdings in shares of Caris Life Sciences by 395.1% in the fourth quarter. Seven Grand Managers LLC now owns 495,095 shares of the company’s stock worth $13,358,000 after buying an additional 395,095 shares in the last quarter. Norges Bank bought a new position in shares of Caris Life Sciences during the fourth quarter worth $2,976,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Caris Life Sciences by 57,052.2% during the fourth quarter. BNP Paribas Financial Markets now owns 685,826 shares of the company’s stock worth $18,504,000 after acquiring an additional 684,626 shares during the last quarter.

About Caris Life Sciences

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.