Caris Life Sciences (NASDAQ:CAI) Director Jon Halbert Buys 68,000 Shares of Stock

Caris Life Sciences, Inc. (NASDAQ:CAI) Director Jon Halbert acquired 68,000 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were bought at an average price of $14.56 per share, for a total transaction of $990,080.00. Following the completion of the acquisition, the director owned 704,598 shares in the company, valued at approximately $10,258,946.88. This trade represents a 10.68% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Caris Life Sciences Price Performance

CAI stock opened at $16.99 on Monday. The company has a market cap of $4.80 billion and a PE ratio of -2.23. Caris Life Sciences, Inc. has a 12-month low of $14.19 and a 12-month high of $42.50. The company has a current ratio of 7.05, a quick ratio of 6.52 and a debt-to-equity ratio of 0.64. The stock has a 50-day moving average price of $17.12 and a two-hundred day moving average price of $20.22.

Caris Life Sciences declared that its board has approved a stock repurchase plan on Monday, June 8th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

CAI has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of Caris Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Evercore set a $25.00 price objective on shares of Caris Life Sciences in a research note on Monday, July 6th. JPMorgan Chase & Co. lowered their price objective on Caris Life Sciences from $35.00 to $30.00 and set an “overweight” rating for the company in a report on Friday, May 8th. BTIG Research reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Caris Life Sciences in a report on Thursday, July 2nd. Finally, Robert W. Baird set a $22.00 target price on Caris Life Sciences in a research note on Friday, May 8th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $26.11.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CAI. 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 worth $58,924,000 after purchasing an additional 1,948,107 shares in the last quarter. Zevenbergen Capital Investments LLC purchased a new position in Caris Life Sciences in the 4th quarter worth about $14,655,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Caris Life Sciences in the fourth quarter worth about $3,942,000. TD Waterhouse Canada Inc. acquired a new stake in shares of Caris Life Sciences during the fourth quarter valued at approximately $2,498,000. Finally, Hamilton Lane Advisors LLC purchased a new position in Caris Life Sciences during the 4th quarter worth approximately $1,584,000.

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.