Caris Life Sciences (NASDAQ:CAI) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Caris Life Sciences (NASDAQ:CAI) from a buy rating to a hold rating in a research report report published on Saturday.

A number of other brokerages have also recently issued reports on CAI. Weiss Ratings reiterated a “sell (d)” rating on shares of Caris Life Sciences in a report on Monday, December 29th. Canaccord Genuity Group raised their price objective on shares of Caris Life Sciences from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, December 22nd. Evercore set a $38.00 price objective on shares of Caris Life Sciences in a report on Monday, January 5th. Finally, Robert W. Baird assumed coverage on shares of Caris Life Sciences in a report on Tuesday. They issued an “outperform” rating and a $26.00 target price on the stock. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.33.

Caris Life Sciences Trading Down 6.3%

CAI opened at $19.53 on Friday. The firm has a fifty day moving average of $25.30. Caris Life Sciences has a 1-year low of $18.76 and a 1-year high of $42.50. The company has a market capitalization of $5.51 billion and a P/E ratio of -42.46. The company has a current ratio of 9.93, a quick ratio of 9.36 and a debt-to-equity ratio of 0.79.

Insider Buying and Selling at Caris Life Sciences

In related news, insider Luke Thomas Power sold 62,250 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $26.58, for a total transaction of $1,654,605.00. Following the completion of the transaction, the insider owned 99,571 shares of the company’s stock, valued at approximately $2,646,597.18. The trade was a 38.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. increased its position in shares of Caris Life Sciences by 14.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,205,959 shares of the company’s stock worth $248,377,000 after purchasing an additional 1,180,200 shares during the last quarter. Invesco Ltd. grew its stake in Caris Life Sciences by 28.5% in the 4th quarter. Invesco Ltd. now owns 1,033,115 shares of the company’s stock worth $27,873,000 after buying an additional 229,313 shares in the last quarter. VARCOV Co. bought a new position in shares of Caris Life Sciences in the 4th quarter worth $1,080,000. Voloridge Investment Management LLC purchased a new stake in shares of Caris Life Sciences during the 4th quarter valued at $946,000. Finally, PointState Capital LP lifted its holdings in shares of Caris Life Sciences by 73.0% during the 4th quarter. PointState Capital LP now owns 6,718,707 shares of the company’s stock worth $181,271,000 after acquiring an additional 2,834,986 shares during the last quarter.

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.