Public Employees Retirement System of Ohio Takes Position in Caris Life Sciences, Inc. $CAI

Public Employees Retirement System of Ohio purchased a new position in shares of Caris Life Sciences, Inc. (NASDAQ:CAI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 35,145 shares of the company’s stock, valued at approximately $626,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC increased its position in Caris Life Sciences by 99,900.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,000 shares of the company’s stock worth $27,000 after buying an additional 999 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Caris Life Sciences by 839.4% during the first 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 during the last quarter. MetLife Investment Management LLC grew its position in shares of Caris Life Sciences by 84.0% during the fourth quarter. MetLife Investment Management LLC now owns 1,654 shares of the company’s stock worth $45,000 after acquiring an additional 755 shares during the last quarter. Fifth Third Bancorp acquired a new stake in shares of Caris Life Sciences in the 1st quarter worth about $31,000. Finally, Sterling Capital Management LLC lifted its position 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 valued at $34,000 after purchasing an additional 1,083 shares during the last quarter.

Insider Buying and Selling

In other Caris Life Sciences news, President David Spetzler sold 119,212 shares of the company’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 completion of the sale, the president directly owned 1,182,871 shares in the company, valued at $29,287,885.96. This represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 50.00% of the stock is currently owned by insiders.

Caris Life Sciences Trading Down 3.2%

Shares of NASDAQ:CAI opened at $24.03 on Thursday. The company has a 50 day moving average of $20.36 and a 200-day moving average of $18.91. The company has a current ratio of 5.53, a quick ratio of 4.88 and a debt-to-equity ratio of 0.66. The firm has a market cap of $6.79 billion, a P/E ratio of 66.75 and a beta of 1.10. Caris Life Sciences, Inc. has a twelve month low of $14.19 and a twelve month high of $35.20.

Caris Life Sciences announced that its board has approved 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 reacquire up to 2.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CAI shares. UBS Group initiated coverage on shares of Caris Life Sciences in a research note on Wednesday. They set a “neutral” rating and a $28.00 target price for the company. Evercore reaffirmed an “outperform” rating and set a $26.00 price target on shares of Caris Life Sciences in a report on Thursday, August 6th. Weiss Ratings upgraded Caris Life Sciences from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Wolfe Research lowered Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a report on Monday, June 1st. Finally, Wall Street Zen upgraded Caris Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Caris Life Sciences has a consensus rating of “Hold” and a consensus target price of $26.50.

Caris Life Sciences Profile

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.