Caris Life Sciences (NASDAQ:CAI) Price Target Raised to $35.00

Caris Life Sciences (NASDAQ:CAI) had its price objective upped by JPMorgan Chase & Co. from $25.00 to $35.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts have also weighed in on CAI. BTIG Research upped their target price 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. 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. TD Cowen boosted their price target on shares of Caris Life Sciences from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday. Evercore restated an “outperform” rating and set a $26.00 price objective on shares of Caris Life Sciences in a report on Thursday, August 6th. Finally, Weiss Ratings downgraded shares of Caris Life Sciences from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, October 2nd. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $27.82.

Caris Life Sciences Stock Down 3.8%

Shares of NASDAQ:CAI opened at $30.56 on Wednesday. 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 has a 52-week low of $14.19 and a 52-week high of $33.13. The business’s 50 day simple moving average is $27.12 and its two-hundred day simple moving average is $20.92. The firm has a market cap of $8.64 billion, a P/E ratio of 84.89 and a beta of 0.86.

Insiders Place Their Bets

In other news, insider Brian Brille sold 400,000 shares of the stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $30.33, for a total value of $12,132,000.00. Following the completion of the sale, the insider directly owned 230,303 shares of the company’s stock, valued at $6,985,089.99. This represents a 63.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President David Spetzler sold 119,212 shares of the stock in a transaction that occurred on 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 completion of the sale, the president directly owned 1,182,871 shares of the company’s stock, valued at approximately $29,287,885.96. This trade represents a 9.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 1,004,712 shares of company stock valued at $27,205,419. Corporate insiders own 50.00% of the company’s stock.

Institutional Investors Weigh In On Caris Life Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of CAI. Renaissance Technologies LLC grew 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 worth $8,044,000 after acquiring an additional 120,000 shares in the last quarter. Maxi Investments CY Ltd purchased a new stake in shares of Caris Life Sciences in the second quarter valued at about $3,754,000. Sei Investments Co. lifted its position in shares of Caris Life Sciences by 2,348.6% during the first 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. The Manufacturers Life Insurance Company lifted its position in shares of Caris Life Sciences by 50.8% during the first quarter. The Manufacturers Life Insurance Company now owns 153,512 shares of the company’s stock valued at $2,745,000 after purchasing an additional 51,696 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position 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.

About Caris Life Sciences

Caris Life Sciences is a biotechnology company focused on precision oncology and the use of molecular and artificial intelligence technologies to support cancer diagnosis and treatment decisions. The company analyzes tumor and blood samples to identify genetic, molecular and other biological characteristics that may help physicians select targeted therapies and develop individualized treatment plans.

Its offerings include comprehensive tumor profiling, molecular testing and data-driven clinical support for oncologists and other healthcare providers.