Caris Life Sciences (NASDAQ:CAI) Given New $25.00 Price Target at Piper Sandler

Caris Life Sciences (NASDAQ:CAI) had its price objective raised by equities researchers at Piper Sandler from $22.00 to $25.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler‘s price target points to a potential downside of 2.23% from the stock’s previous close.

Several other research firms also recently commented on CAI. JPMorgan Chase & Co. boosted their target price on shares of Caris Life Sciences from $25.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 14th. UBS Group set a $38.00 target price on shares of Caris Life Sciences in a report on Thursday. Canaccord Genuity Group lifted their price target on Caris Life Sciences from $22.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, October 19th. Evercore reissued an “outperform” rating and issued a $26.00 price objective on shares of Caris Life Sciences in a research note on Thursday, August 6th. Finally, BTIG Research restated a “buy” rating and issued a $38.00 target price on shares of Caris Life Sciences in a report on Thursday, November 5th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.18.

Caris Life Sciences Price Performance

Shares of NASDAQ:CAI opened at $25.57 on Tuesday. The stock’s 50 day moving average is $29.48 and its 200-day moving average is $21.74. Caris Life Sciences has a twelve month low of $14.19 and a twelve month high of $36.50. The company has a quick ratio of 4.88, a current ratio of 5.53 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of 77.48 and a beta of 0.71.

Caris Life Sciences (NASDAQ:CAI) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Caris Life Sciences had a net margin of 9.16% and a return on equity of 16.35%. The business had revenue of $275.36 million during the quarter. During the same quarter last year, the firm posted $0.08 EPS. The business’s revenue for the quarter was up 27.0% compared to the same quarter last year. Sell-side analysts forecast that Caris Life Sciences will post 0.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Caris Life Sciences news, insider John Russel Denton sold 7,500 shares of Caris Life Sciences stock in a transaction that occurred on Tuesday, September 22nd. The shares were 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 $5,563,886.10. This trade represents a 4.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President David Spetzler sold 478,000 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $24.86, for a total value of $11,883,080.00. Following the completion of the transaction, the president owned 1,052,083 shares in the company, valued at $26,154,783.38. The trade was a 31.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 1,004,712 shares of company stock worth $27,205,419. 50.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Braidwell LP increased its position in shares of Caris Life Sciences by 3.1% during the 2nd quarter. Braidwell LP now owns 8,256,032 shares of the company’s stock valued at $147,122,000 after purchasing an additional 246,585 shares during the last quarter. PointState Capital LP purchased a new position in shares of Caris Life Sciences in the 2nd quarter worth about $121,690,000. BlackRock Inc. bought a new position in Caris Life Sciences during the second quarter valued at about $98,666,000. Canada Pension Plan Investment Board bought a new position in Caris Life Sciences during the second quarter valued at about $24,502,000. Finally, Amundi increased its holdings in Caris Life Sciences by 5,709.5% during the second 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.

About Caris Life Sciences

Caris Life Sciences is a precision medicine company that develops molecular profiling and artificial intelligence technologies to support cancer diagnosis and treatment decisions. Its services analyze the biological characteristics of a patient’s tumor to help physicians identify information that may guide care.

The company’s offerings include tumor profiling based on DNA and RNA analysis, as well as blood-based testing. Caris also provides molecular data and research services to biopharmaceutical companies to support drug development and the study of cancer.

Founded in 2008 by David D.