Caris Life Sciences (NASDAQ:CAI) Cut to Hold at Wall Street Zen

Caris Life Sciences (NASDAQ:CAI) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other analysts also recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Caris Life Sciences in a report on Monday, December 29th. Canaccord Genuity Group raised their target price on Caris Life Sciences from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, December 22nd. Robert W. Baird assumed coverage on Caris Life Sciences in a report on Tuesday. They issued an “outperform” rating and a $26.00 price target for the company. Finally, Evercore set a $38.00 price objective on shares of Caris Life Sciences in a report on Monday, January 5th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $31.33.

Caris Life Sciences Trading Down 6.3%

Caris Life Sciences stock opened at $19.53 on Friday. The company has a current ratio of 9.93, a quick ratio of 9.36 and a debt-to-equity ratio of 0.79. The stock’s fifty day moving average price is $25.30. The stock has a market cap of $5.51 billion and a PE ratio of -42.46. Caris Life Sciences has a 12-month low of $18.76 and a 12-month high of $42.50.

Insider Activity

In related news, insider Luke Thomas Power sold 62,250 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $26.58, for a total value of $1,654,605.00. Following the completion of the sale, the insider directly owned 99,571 shares of the company’s stock, valued at $2,646,597.18. This represents a 38.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Caris Life Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CAI. Global Retirement Partners LLC boosted its holdings in shares of Caris Life Sciences by 99,900.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,000 shares of the company’s stock valued at $27,000 after acquiring an additional 999 shares during the period. Olistico Wealth LLC purchased a new stake in Caris Life Sciences in the 4th quarter valued at $31,000. MetLife Investment Management LLC boosted its stake in Caris Life Sciences by 84.0% during the 4th quarter. MetLife Investment Management LLC now owns 1,654 shares of the company’s stock worth $45,000 after purchasing an additional 755 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in Caris Life Sciences during the 4th quarter worth $67,000. Finally, Federated Hermes Inc. purchased a new position in Caris Life Sciences during the 4th quarter worth $81,000.

About Caris Life Sciences

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.