Caris Life Sciences (NASDAQ:CAI) Stock Price Target Raised at JPMorgan Chase & Co.

Caris Life Sciences (NASDAQ:CAI) had its price objective hoisted by analysts at JPMorgan Chase & Co. from $25.00 to $35.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 15.66% from the stock’s previous close.

Several other brokerages have also recently issued reports on CAI. Evercore reaffirmed an “outperform” rating and set a $26.00 target price on shares of Caris Life Sciences in a research note on Thursday, August 6th. BTIG Research increased their target price on shares of Caris Life Sciences from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. UBS Group initiated coverage on shares of Caris Life Sciences in a research note on Wednesday, September 9th. They issued a “neutral” rating and a $28.00 price target on the stock. TD Cowen boosted their price target on shares of Caris Life Sciences from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Weiss Ratings cut shares of Caris Life Sciences from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, October 2nd. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.82.

Caris Life Sciences Price Performance

Shares of CAI traded up $0.73 during trading hours on Wednesday, hitting $30.26. 4,344,300 shares of the stock were exchanged, compared to its average volume of 3,428,396. The stock’s 50-day moving average price is $26.45 and its two-hundred day moving average price is $20.67. Caris Life Sciences has a 12-month low of $14.19 and a 12-month high of $33.65. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.88 and a current ratio of 5.53. The company has a market cap of $8.55 billion, a price-to-earnings ratio of 84.06 and a beta of 0.86.

Insiders Place Their Bets

In other Caris Life Sciences news, insider John Russel Denton sold 7,500 shares of the business’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $31.82, for a total transaction of $238,650.00. Following the transaction, the insider owned 174,855 shares of the company’s stock, valued at approximately $5,563,886.10. The trade was a 4.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Brian Brille sold 400,000 shares of the company’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $30.33, for a total value of $12,132,000.00. Following the completion of the sale, the insider owned 230,303 shares of the company’s stock, valued at approximately $6,985,089.99. The trade was a 63.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 1,004,712 shares of company stock valued at $27,205,419. Insiders own 50.00% of the company’s stock.

Institutional Investors Weigh In On Caris Life Sciences

A number of hedge funds have recently modified their holdings of CAI. PointState Capital LP purchased a new position in Caris Life Sciences during the second quarter worth about $121,690,000. BlackRock Inc. purchased a new stake in shares of Caris Life Sciences in the 2nd quarter valued at approximately $98,666,000. Canada Pension Plan Investment Board purchased a new stake in shares of Caris Life Sciences in the 2nd quarter valued at approximately $24,502,000. Bank of America Corp DE purchased a new stake in shares of Caris Life Sciences in the 2nd quarter valued at approximately $21,395,000. Finally, Amundi increased its holdings in shares of Caris Life Sciences by 5,709.5% during the 2nd quarter. Amundi now owns 1,218,364 shares of the company’s stock worth $21,711,000 after buying an additional 1,197,392 shares during the last quarter.

Caris Life Sciences Company Profile

Caris Life Sciences is a biotechnology company focused on precision oncology and the use of molecular and artificial intelligence technologies to support cancer diagnosis and treatment decisions. The company analyzes tumor and blood samples to identify genetic, molecular and other biological characteristics that may help physicians select targeted therapies and develop individualized treatment plans.

Its offerings include comprehensive tumor profiling, molecular testing and data-driven clinical support for oncologists and other healthcare providers.