Caris Life Sciences (NASDAQ:CAI) Trading Down 10.4% – Should You Sell?

Caris Life Sciences, Inc. (NASDAQ:CAI)’s share price was down 10.4% during mid-day trading on Wednesday . The company traded as low as $15.23 and last traded at $15.0180. Approximately 770,679 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 2,439,614 shares. The stock had previously closed at $16.76.

Analysts Set New Price Targets

A number of analysts recently weighed in on CAI shares. Wall Street Zen lowered shares of Caris Life Sciences from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. BTIG Research cut their price target on shares of Caris Life Sciences from $38.00 to $32.00 and set a “buy” rating for the company in a report on Friday, May 8th. The Goldman Sachs Group began coverage on shares of Caris Life Sciences in a research report on Wednesday, April 1st. They set a “buy” rating and a $27.00 price target for the company. Jefferies Financial Group initiated coverage on Caris Life Sciences in a research report on Monday, April 13th. They issued a “buy” rating and a $28.00 price objective on the stock. Finally, Robert W. Baird set a $22.00 price objective on Caris Life Sciences in a research note on Friday, May 8th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.56.

Caris Life Sciences Stock Down 14.9%

The business’s 50-day moving average price is $18.97. The company has a debt-to-equity ratio of 0.64, a current ratio of 7.05 and a quick ratio of 7.35. The firm has a market cap of $4.03 billion and a price-to-earnings ratio of -1.88.

Caris Life Sciences (NASDAQ:CAI) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.01 by $0.27. The firm had revenue of $292.89 million for the quarter, compared to the consensus estimate of $281.00 million. Caris Life Sciences had a return on equity of 98.28% and a net margin of 3.75%.The company’s quarterly revenue was up 125.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.73) earnings per share. On average, equities research analysts forecast that Caris Life Sciences, Inc. will post 0.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jeff L. Vacirca acquired 31,050 shares of the stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $16.15 per share, for a total transaction of $501,457.50. Following the completion of the transaction, the director owned 49,671 shares of the company’s stock, valued at $802,186.65. This trade represents a 166.75% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC boosted its position in Caris Life Sciences by 99,900.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,000 shares of the company’s stock valued at $27,000 after buying an additional 999 shares during the period. Olistico Wealth LLC purchased a new stake in shares of Caris Life Sciences during the fourth quarter worth about $31,000. PNC Financial Services Group Inc. grew its stake in shares of Caris Life Sciences by 839.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,644 shares of the company’s stock worth $29,000 after purchasing an additional 1,469 shares during the last quarter. MetLife Investment Management LLC increased its holdings in Caris Life Sciences by 84.0% during the 4th quarter. MetLife Investment Management LLC now owns 1,654 shares of the company’s stock valued at $45,000 after purchasing an additional 755 shares during the period. Finally, Fifth Third Bancorp bought a new position in Caris Life Sciences during the 1st quarter valued at approximately $31,000.

Caris Life Sciences Company 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.