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

Caris Life Sciences, Inc. (NASDAQ:CAI) Director Jon Halbert purchased 68,000 shares of the business’s stock in a transaction on Friday, May 15th. The shares were bought at an average cost of $14.56 per share, for a total transaction of $990,080.00. Following the completion of the transaction, the director directly owned 704,598 shares in the company, valued at $10,258,946.88. This trade represents a 10.68% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Caris Life Sciences Stock Performance

Shares of CAI stock opened at $17.06 on Tuesday. The business has a 50-day simple moving average of $17.08 and a 200-day simple moving average of $20.14. The company has a quick ratio of 6.52, a current ratio of 7.05 and a debt-to-equity ratio of 0.64. The stock has a market cap of $4.82 billion and a PE ratio of -2.24. Caris Life Sciences, Inc. has a 52-week low of $14.19 and a 52-week high of $42.50.

Caris Life Sciences announced that its board has approved a stock buyback program on Monday, June 8th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CAI shares. Jefferies Financial Group assumed coverage on shares of Caris Life Sciences in a report on Monday, April 13th. They set a “buy” rating and a $28.00 target price for the company. The Goldman Sachs Group initiated coverage on shares of Caris Life Sciences in a report on Wednesday, April 1st. They set a “buy” rating and a $27.00 price target on the stock. 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. Robert W. Baird set a $22.00 price objective on shares of Caris Life Sciences in a research report on Friday, May 8th. Finally, Wall Street Zen lowered shares of Caris Life Sciences from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $26.11.

Hedge Funds Weigh In On Caris Life Sciences

Large investors have recently added to or reduced their stakes in the stock. PointState Capital LP raised its position in shares of Caris Life Sciences by 73.0% during the 4th quarter. PointState Capital LP now owns 6,718,707 shares of the company’s stock worth $181,271,000 after purchasing an additional 2,834,986 shares during the last quarter. UBS Group AG raised its holdings in shares of Caris Life Sciences by 825.9% during the fourth quarter. UBS Group AG now owns 2,183,980 shares of the company’s stock valued at $58,924,000 after acquiring an additional 1,948,107 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of Caris Life Sciences by 23,902.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,660,280 shares of the company’s stock valued at $44,794,000 after acquiring an additional 1,653,363 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Caris Life Sciences by 185.0% in the fourth quarter. JPMorgan Chase & Co. now owns 2,445,281 shares of the company’s stock valued at $65,974,000 after acquiring an additional 1,587,176 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its stake in shares of Caris Life Sciences by 14.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,205,959 shares of the company’s stock worth $248,377,000 after acquiring an additional 1,180,200 shares during the last quarter.

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.