Wall Street Zen Upgrades Caris Life Sciences (NASDAQ:CAI) to “Buy”

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

A number of other equities research analysts have also commented on the company. BTIG Research lowered their price target on Caris Life Sciences from $45.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of Caris Life Sciences in a research note on Monday, December 29th. Evercore set a $38.00 price target on shares of Caris Life Sciences in a report on Monday, January 5th. Robert W. Baird lifted their price target on shares of Caris Life Sciences from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Finally, Canaccord Genuity Group upped their price objective on Caris Life Sciences from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, December 22nd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $33.50.

Caris Life Sciences Stock Performance

NASDAQ:CAI opened at $18.59 on Friday. Caris Life Sciences has a 52 week low of $17.15 and a 52 week high of $42.50. The company has a debt-to-equity ratio of 0.66, a quick ratio of 9.36 and a current ratio of 7.85. The company has a fifty day moving average price of $23.55. The company has a market cap of $5.25 billion and a price-to-earnings ratio of -103.28.

Caris Life Sciences (NASDAQ:CAI) last posted 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 during the quarter, compared to the consensus estimate of $281.00 million. The business’s revenue was up 125.4% on a year-over-year basis. During the same period last year, the business posted ($1.73) earnings per share.

Insiders Place Their Bets

In other Caris Life Sciences news, insider Luke Thomas Power sold 62,250 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $26.58, for a total value of $1,654,605.00. Following the sale, the insider owned 99,571 shares of the company’s stock, valued at $2,646,597.18. This trade represents a 38.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC boosted its position in Caris Life Sciences by 99,900.0% during the 4th 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 in the last quarter. Olistico Wealth LLC purchased a new stake in Caris Life Sciences in the fourth quarter worth about $31,000. MetLife Investment Management LLC grew its holdings in Caris Life Sciences by 84.0% in the fourth 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 bought a new position in shares of Caris Life Sciences during the fourth quarter valued at approximately $67,000. Finally, Federated Hermes Inc. purchased a new position in shares of Caris Life Sciences during the fourth quarter valued at approximately $81,000.

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.