Caris Life Sciences, Inc. $CAI Shares Acquired by Sei Investments Co.

Sei Investments Co. lifted its position in shares of Caris Life Sciences, Inc. (NASDAQ:CAI) by 2,348.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 598,712 shares of the company’s stock after acquiring an additional 574,261 shares during the quarter. Sei Investments Co. owned 0.21% of Caris Life Sciences worth $10,705,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CAI. T. Rowe Price Investment Management Inc. raised its holdings in Caris Life Sciences by 14.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,205,959 shares of the company’s stock worth $248,377,000 after purchasing an additional 1,180,200 shares during the period. Braidwell LP increased its position in shares of Caris Life Sciences by 6.8% in the fourth quarter. Braidwell LP now owns 7,816,142 shares of the company’s stock valued at $210,880,000 after buying an additional 500,000 shares in the last quarter. PointState Capital LP raised its stake 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 buying an additional 2,834,986 shares during the period. Orbimed Advisors LLC lifted its position in shares of Caris Life Sciences by 2.7% during the 4th quarter. Orbimed Advisors LLC now owns 3,116,011 shares of the company’s stock valued at $84,070,000 after buying an additional 81,153 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Caris Life Sciences by 185.0% in the 4th 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 during the period.

Caris Life Sciences Trading Down 2.6%

CAI opened at $15.67 on Friday. The firm has a market capitalization of $4.43 billion and a price-to-earnings ratio of -2.06. The company’s 50 day simple moving average is $16.99 and its two-hundred day simple moving average is $19.04. Caris Life Sciences, Inc. has a 1-year low of $14.19 and a 1-year high of $42.50. The company has a debt-to-equity ratio of 0.64, a current ratio of 7.05 and a quick ratio of 6.52.

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

Analysts Set New Price Targets

CAI has been the subject of several recent analyst reports. BTIG Research reissued a “buy” rating and issued a $32.00 price target on shares of Caris Life Sciences in a report on Thursday, July 2nd. Citigroup dropped their target price on shares of Caris Life Sciences from $35.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Weiss Ratings raised shares of Caris Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Piper Sandler started coverage on shares of Caris Life Sciences in a research report on Friday, April 10th. They set a “neutral” rating and a $21.00 price target for the company. 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 equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $26.11.

Insider Buying and Selling

In related news, Director Jon Halbert acquired 68,000 shares of the stock in a transaction on Friday, May 15th. The shares were bought at an average price of $14.56 per share, with a total value of $990,080.00. Following the completion of the purchase, the director owned 704,598 shares of the company’s stock, valued at approximately $10,258,946.88. This represents a 10.68% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeff L. Vacirca bought 31,050 shares of the business’s stock in a transaction on Monday, May 11th. The stock was bought at an average cost of $16.15 per share, with a total value of $501,457.50. Following the completion of the purchase, the director directly owned 49,671 shares in the company, valued at approximately $802,186.65. The trade was a 166.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 50.00% of the company’s stock.

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.