Caris Life Sciences, Inc. (NASDAQ:CAI) Stock Has Average Target Price of $26.50 According to Brokerages

Caris Life Sciences, Inc. (NASDAQ:CAI) has been assigned an average rating of “Hold” from the thirteen brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $26.50.

Several research firms recently weighed in on CAI. Evercore restated an “outperform” rating and set a $26.00 price target on shares of Caris Life Sciences in a report on Thursday, August 6th. BTIG Research lifted their price objective on shares of Caris Life Sciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. UBS Group assumed coverage on shares of Caris Life Sciences in a research report on Wednesday, September 9th. They set a “neutral” rating and a $28.00 price objective on the stock. Wall Street Zen upgraded shares of Caris Life Sciences from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. Finally, Wolfe Research cut shares of Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 1st.

Caris Life Sciences Price Performance

NASDAQ:CAI opened at $31.98 on Wednesday. The firm has a market capitalization of $9.04 billion, a price-to-earnings ratio of 88.83 and a beta of 1.10. The company has a debt-to-equity ratio of 0.66, a current ratio of 5.53 and a quick ratio of 4.88. The business has a 50 day simple moving average of $23.19 and a 200-day simple moving average of $19.76. Caris Life Sciences has a 1 year low of $14.19 and a 1 year high of $33.65.

Caris Life Sciences announced that its board has authorized a share buyback program on Monday, June 8th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Caris Life Sciences

In other news, President David Spetzler sold 478,000 shares of the company’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 transaction of $11,883,080.00. Following the transaction, the president owned 1,052,083 shares of the company’s stock, valued at approximately $26,154,783.38. This represents a 31.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Russel Denton sold 7,500 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $31.82, for a total value of $238,650.00. Following the completion of the sale, the insider owned 174,855 shares in the company, valued at approximately $5,563,886.10. The trade was a 4.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,004,712 shares of company stock worth $27,205,419 over the last 90 days. Company insiders own 50.00% of the company’s stock.

Institutional Trading of Caris Life Sciences

A number of large investors have recently made changes to their positions in CAI. PNC Financial Services Group Inc. increased its stake in Caris Life Sciences by 839.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,644 shares of the company’s stock worth $29,000 after buying an additional 1,469 shares during the period. Fifth Third Bancorp purchased a new stake in Caris Life Sciences in the 1st quarter valued at about $31,000. Sterling Capital Management LLC grew its stake in Caris Life Sciences by 128.3% in the 1st quarter. Sterling Capital Management LLC now owns 1,927 shares of the company’s stock worth $34,000 after acquiring an additional 1,083 shares in the last quarter. MCF Advisors LLC bought a new position in Caris Life Sciences in the 2nd quarter worth about $36,000. Finally, Trifecta Capital Advisors LLC purchased a new position in shares of Caris Life Sciences during the second quarter worth approximately $37,000.

Caris Life Sciences Company Profile

Caris Life Sciences is a precision medicine and biotechnology company headquartered in Irving, Texas. Founded in 2008, the company combines molecular profiling, artificial intelligence and clinical data to support more informed decisions in cancer diagnosis and treatment.

Caris provides comprehensive tumor profiling and other laboratory testing services designed to identify genetic, molecular and immune characteristics of a patient’s cancer. Its offerings are intended to help physicians match patients with targeted therapies, immunotherapies and clinical trials, while also supporting cancer research and drug development.

The company serves healthcare providers, biopharmaceutical companies and academic or research institutions.