Caris Life Sciences, Inc. (NASDAQ:CAI) Receives Average Rating of “Hold” from Analysts

Shares of Caris Life Sciences, Inc. (NASDAQ:CAI) have received a consensus recommendation of “Hold” from the eleven brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $27.5556.

Several analysts recently commented on CAI shares. Weiss Ratings upgraded shares of Caris Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. reduced their price target on shares of Caris Life Sciences from $35.00 to $30.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Wall Street Zen downgraded shares of Caris Life Sciences from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. New Street Research initiated coverage on shares of Caris Life Sciences in a research report on Friday, May 8th. They issued a “market perform” rating for the company. Finally, Citigroup cut their price objective on shares of Caris Life Sciences from $35.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, May 8th.

Caris Life Sciences Price Performance

CAI stock opened at $17.97 on Monday. The firm has a fifty day simple moving average of $17.79. Caris Life Sciences has a 12 month low of $14.19 and a 12 month high of $42.50. The stock has a market cap of $5.08 billion and a P/E ratio of -2.36. The company has a debt-to-equity ratio of 0.64, a quick ratio of 6.52 and a current ratio of 7.05.

Caris Life Sciences declared that its Board of Directors has approved a share buyback program on Monday, June 8th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to buy up to 2.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Jeff L. Vacirca acquired 31,050 shares of the business’s stock in a transaction on Monday, May 11th. The stock was bought at an average price of $16.15 per share, for a total transaction of $501,457.50. Following the transaction, the director owned 49,671 shares in the company, valued at $802,186.65. This represents a 166.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 50.00% of the company’s stock.

Hedge Funds Weigh In On Caris Life Sciences

Large investors have recently bought and sold shares of the company. Global Retirement Partners LLC raised 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 worth $27,000 after buying an additional 999 shares during the last quarter. Olistico Wealth LLC purchased a new position in shares of Caris Life Sciences in the 4th quarter valued at about $31,000. PNC Financial Services Group Inc. increased its holdings in shares of Caris Life Sciences by 839.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,644 shares of the company’s stock valued at $29,000 after purchasing an additional 1,469 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Caris Life Sciences by 84.0% in the 4th quarter. MetLife Investment Management LLC now owns 1,654 shares of the company’s stock valued at $45,000 after purchasing an additional 755 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new position in shares of Caris Life Sciences in the 1st quarter valued at about $31,000.

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.