Caris Life Sciences (NASDAQ:CAI) President David Baxley Spetzler Sells 119,212 Shares

Caris Life Sciences, Inc. (NASDAQ:CAI) President David Baxley Spetzler sold 119,212 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $24.76, for a total transaction of $2,951,689.12. Following the completion of the sale, the president directly owned 1,182,871 shares in the company, valued at approximately $29,287,885.96. The trade was a 9.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

David Baxley Spetzler also recently made the following trade(s):

• On Thursday, September 3rd, David Baxley Spetzler sold 478,000 shares of Caris Life Sciences stock. The stock was sold at an average price of $24.86, for a total transaction of $11,883,080.00.

Caris Life Sciences Stock Down 1.0%

Shares of NASDAQ CAI opened at $25.07 on Friday. The firm’s 50-day moving average is $19.98 and its two-hundred day moving average is $18.85. The company has a market capitalization of $7.08 billion, a PE ratio of 69.64 and a beta of 1.10. Caris Life Sciences, Inc. has a 12-month low of $14.19 and a 12-month high of $36.65. The company has a debt-to-equity ratio of 0.66, a current ratio of 5.53 and a quick ratio of 4.88.

Caris Life Sciences declared that its Board of Directors has initiated a stock buyback program on Monday, June 8th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Caris Life Sciences

Hedge funds have recently bought and sold shares of the company. PointState Capital LP acquired a new position in Caris Life Sciences in the 2nd quarter valued at $121,690,000. BlackRock Inc. acquired a new stake in shares of Caris Life Sciences during the second quarter worth $98,666,000. California State Teachers Retirement System grew its position in shares of Caris Life Sciences by 64,861.8% in the second quarter. California State Teachers Retirement System now owns 3,249,388 shares of the company’s stock valued at $57,904,000 after purchasing an additional 3,244,386 shares during the period. Balyasny Asset Management L.P. grew its position in shares of Caris Life Sciences by 23,902.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,660,280 shares of the company’s stock valued at $44,794,000 after purchasing an additional 1,653,363 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Caris Life Sciences by 185.0% in the fourth quarter. JPMorgan Chase & Co. now owns 2,445,281 shares of the company’s stock valued at $65,974,000 after purchasing an additional 1,587,176 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CAI. Evercore reiterated an “outperform” rating and set a $26.00 target price on shares of Caris Life Sciences in a report on Thursday, August 6th. Wall Street Zen upgraded Caris Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. New Street Research started coverage on Caris Life Sciences in a research note on Friday, May 8th. They set a “market perform” rating on the stock. Citigroup dropped their price objective on Caris Life Sciences from $35.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. cut 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 research note on Friday, May 8th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.33.

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.