Caris Life Sciences, Inc. (NASDAQ:CAI) Receives Average Recommendation of “Hold” from Brokerages

Shares of Caris Life Sciences, Inc. (NASDAQ:CAI) have been assigned an average recommendation of “Hold” from the thirteen ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $26.50.

Several equities research analysts recently issued reports on the company. Wall Street Zen upgraded Caris Life Sciences from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. Wolfe Research cut Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a report on Monday, June 1st. Weiss Ratings raised Caris Life Sciences from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, September 16th. Evercore reiterated an “outperform” rating and set a $26.00 price target on shares of Caris Life Sciences in a research note on Thursday, August 6th. Finally, UBS Group started coverage on shares of Caris Life Sciences in a research report on Wednesday, September 9th. They set a “neutral” rating and a $28.00 price target on the stock.

Insiders Place Their Bets

In other news, insider Brian J. Brille sold 400,000 shares of the company’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $30.33, for a total transaction of $12,132,000.00. Following the sale, the insider owned 230,303 shares of the company’s stock, valued at approximately $6,985,089.99. This represents a 63.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Russel Denton sold 7,500 shares of the stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $31.82, for a total value of $238,650.00. Following the completion of the sale, the insider owned 174,855 shares in the company, valued at approximately $5,563,886.10. The trade was a 4.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,004,712 shares of company stock worth $27,205,419 in the last ninety days. 50.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its stake in shares of Caris Life Sciences by 36.4% in the 1st quarter. Renaissance Technologies LLC now owns 449,900 shares of the company’s stock valued at $8,044,000 after buying an additional 120,000 shares during the period. Maxi Investments CY Ltd purchased a new stake in shares of Caris Life Sciences during the second quarter worth approximately $3,754,000. Sei Investments Co. raised its holdings in Caris Life Sciences by 2,348.6% in the first 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 in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Caris Life Sciences by 50.8% in the first quarter. The Manufacturers Life Insurance Company now owns 153,512 shares of the company’s stock valued at $2,745,000 after acquiring an additional 51,696 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in Caris Life Sciences by 26.0% in the first quarter. Lazard Asset Management LLC now owns 305,911 shares of the company’s stock worth $5,470,000 after acquiring an additional 63,132 shares during the last quarter.

Caris Life Sciences Price Performance

NASDAQ:CAI opened at $31.98 on Wednesday. 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 stock’s fifty day moving average is $23.19 and its two-hundred day moving average is $19.76. Caris Life Sciences has a 52 week low of $14.19 and a 52 week high of $33.65. The stock has a market capitalization of $9.04 billion, a price-to-earnings ratio of 88.83 and a beta of 1.10.

Caris Life Sciences announced that its Board of Directors has authorized a stock repurchase program on Monday, June 8th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 2.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.