Caris Life Sciences (NASDAQ:CAI) Shares Up 6.5% – What’s Next?

Caris Life Sciences, Inc. (NASDAQ:CAI)’s share price was up 6.5% during mid-day trading on Monday . The stock traded as high as $15.70 and last traded at $15.4980. Approximately 464,020 shares changed hands during trading, a decline of 82% from the average daily volume of 2,525,124 shares. The stock had previously closed at $14.55.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CAI shares. Jefferies Financial Group assumed coverage on Caris Life Sciences in a report on Monday, April 13th. They set a “buy” rating and a $28.00 target price on the stock. Citigroup reduced their price objective on Caris Life Sciences from $35.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Canaccord Genuity Group decreased their price objective on Caris Life Sciences from $30.00 to $22.00 and set a “hold” rating on the stock in a research note on Friday, March 13th. Robert W. Baird set a $22.00 target price on shares of Caris Life Sciences in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Caris Life Sciences from $35.00 to $30.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.56.

Caris Life Sciences Trading Up 3.6%

The stock has a 50 day moving average of $18.66. The company has a debt-to-equity ratio of 0.64, a current ratio of 7.05 and a quick ratio of 6.52. The stock has a market capitalization of $4.26 billion and a PE ratio of -1.98.

Caris Life Sciences (NASDAQ:CAI) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.27. The business had revenue of $292.89 million for the quarter, compared to analyst estimates of $281.00 million. Caris Life Sciences had a net margin of 3.75% and a return on equity of 98.28%. The company’s revenue was up 125.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.73) EPS. As a group, analysts predict that Caris Life Sciences, Inc. will post 0.1 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jeff L. Vacirca acquired 31,050 shares of Caris Life Sciences stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $16.15 per share, with a total value of $501,457.50. Following the purchase, the director directly owned 49,671 shares of the company’s stock, valued at approximately $802,186.65. This trade represents a 166.75% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Institutional Investors Weigh In On Caris Life Sciences

Hedge funds have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. lifted its holdings in Caris Life Sciences by 14.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,205,959 shares of the company’s stock worth $248,377,000 after buying an additional 1,180,200 shares in the last quarter. Braidwell LP increased its position in shares of Caris Life Sciences by 6.8% during the fourth quarter. Braidwell LP now owns 7,816,142 shares of the company’s stock worth $210,880,000 after acquiring an additional 500,000 shares during the last quarter. PointState Capital LP lifted its stake in shares of Caris Life Sciences by 73.0% in the fourth quarter. PointState Capital LP now owns 6,718,707 shares of the company’s stock worth $181,271,000 after acquiring an additional 2,834,986 shares in the last quarter. Orbimed Advisors LLC boosted its holdings in Caris Life Sciences by 2.7% in the fourth quarter. Orbimed Advisors LLC now owns 3,116,011 shares of the company’s stock valued at $84,070,000 after purchasing an additional 81,153 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Caris Life Sciences by 185.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,445,281 shares of the company’s stock valued at $65,974,000 after purchasing an additional 1,587,176 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.