Caris Life Sciences, Inc. (NASDAQ:CAI) Receives $26.11 Consensus PT from Brokerages

Caris Life Sciences, Inc. (NASDAQ:CAI) has been assigned an average recommendation of “Hold” from the eleven analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $26.1111.

Several equities research analysts have recently issued reports on CAI shares. JPMorgan Chase & Co. lowered their target price on shares of Caris Life Sciences from $35.00 to $30.00 and set an “overweight” rating for the company in a report on Friday, May 8th. The Goldman Sachs Group assumed 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. Piper Sandler began coverage on shares of Caris Life Sciences in a research note on Friday, April 10th. They issued a “neutral” rating and a $21.00 price objective for the company. Weiss Ratings upgraded Caris Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Finally, Robert W. Baird set a $22.00 price target on Caris Life Sciences in a report on Friday, May 8th.

Insider Activity

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

Hedge Funds Weigh In On Caris Life Sciences

A number of large investors have recently added to or reduced their stakes in CAI. Global Retirement Partners LLC lifted its position in shares of Caris Life Sciences by 99,900.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,000 shares of the company’s stock valued at $27,000 after buying an additional 999 shares during the last quarter. Olistico Wealth LLC bought a new position in shares of Caris Life Sciences during the 4th quarter worth approximately $31,000. PNC Financial Services Group Inc. raised its stake in shares of Caris Life Sciences by 839.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,644 shares of the company’s stock worth $29,000 after acquiring an additional 1,469 shares in the last quarter. MetLife Investment Management LLC lifted its position in Caris Life Sciences by 84.0% during the fourth quarter. MetLife Investment Management LLC now owns 1,654 shares of the company’s stock valued at $45,000 after acquiring an additional 755 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new stake in Caris Life Sciences in the first quarter valued at approximately $31,000.

Caris Life Sciences Stock Down 5.6%

NASDAQ CAI opened at $16.48 on Friday. The company has a quick ratio of 6.52, a current ratio of 7.05 and a debt-to-equity ratio of 0.64. Caris Life Sciences has a 52 week low of $14.19 and a 52 week high of $42.50. The firm has a market capitalization of $4.66 billion and a price-to-earnings ratio of -2.17. The company has a fifty day moving average of $16.94 and a two-hundred day moving average of $19.91.

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

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.