Caris Life Sciences (NASDAQ:CAI) Sets New 12-Month High – Here’s What Happened

Caris Life Sciences, Inc. (NASDAQ:CAI) hit a new 52-week high during trading on Tuesday. The company traded as high as $33.20 and last traded at $33.1890, with a volume of 752,234 shares trading hands. The stock had previously closed at $32.46.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CAI. Canaccord Genuity Group lifted their price target on shares of Caris Life Sciences from $22.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, October 19th. Evercore reaffirmed an “outperform” rating and set a $26.00 price objective on shares of Caris Life Sciences in a report on Thursday, August 6th. BTIG Research raised their price objective on shares of Caris Life Sciences from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday. Wall Street Zen upgraded shares of Caris Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. Finally, TD Cowen upped their target price on shares of Caris Life Sciences from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, October 13th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.00.

Caris Life Sciences Trading Up 5.3%

The company has a 50 day moving average of $28.70 and a 200 day moving average of $21.57. The firm has a market cap of $10.02 billion, a price-to-earnings ratio of 98.47 and a beta of 1.10. The company has a current ratio of 5.53, a quick ratio of 4.88 and a debt-to-equity ratio of 0.66.

Insider Buying and Selling

In other news, President David Spetzler sold 119,212 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $24.76, for a total value of $2,951,689.12. Following the transaction, the president directly owned 1,182,871 shares of the company’s stock, valued at $29,287,885.96. The trade was a 9.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Brian J. Brille sold 400,000 shares of the stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $30.33, for a total value of $12,132,000.00. Following the sale, the insider owned 230,303 shares in the company, valued at approximately $6,985,089.99. This trade represents a 63.46% 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 in the last quarter. 50.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Caris Life Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Braidwell LP raised its position in shares of Caris Life Sciences by 3.1% during the second quarter. Braidwell LP now owns 8,256,032 shares of the company’s stock worth $147,122,000 after acquiring an additional 246,585 shares during the last quarter. PointState Capital LP bought a new stake in shares of Caris Life Sciences during the second quarter worth approximately $121,690,000. BlackRock Inc. bought a new stake in shares of Caris Life Sciences during the second quarter worth approximately $98,666,000. Canada Pension Plan Investment Board acquired a new stake in Caris Life Sciences during the 2nd quarter worth $24,502,000. Finally, Amundi raised its position 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 valued at $21,711,000 after acquiring an additional 1,197,392 shares during the last quarter.

About Caris Life Sciences

Caris Life Sciences is a biotechnology and precision-medicine company that uses molecular profiling and artificial intelligence to support cancer diagnosis, treatment selection and drug development. The company analyzes tumor and blood samples to identify genomic, molecular and immune characteristics that may help physicians better understand a patient’s disease and select targeted therapies.

Its offerings include comprehensive tumor profiling, liquid-biopsy testing and data-driven clinical decision-support tools.