Caris Life Sciences (NASDAQ:CAI) Trading 6.5% Higher – What’s Next?

Caris Life Sciences, Inc. (NASDAQ:CAI) shares shot up 6.5% during mid-day trading on Monday . The company traded as high as $15.70 and last traded at $15.4980. 464,020 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 2,525,124 shares. The stock had previously closed at $14.55.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CAI. Weiss Ratings upgraded shares of Caris Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. lowered their price target on Caris Life Sciences from $35.00 to $30.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Piper Sandler began coverage on Caris Life Sciences in a report on Friday, April 10th. They set a “neutral” rating and a $21.00 price objective for the company. BTIG Research decreased their target price on Caris Life Sciences from $38.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Canaccord Genuity Group lowered their target price on Caris Life Sciences from $30.00 to $22.00 and set a “hold” rating on the stock in a report on Friday, March 13th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $27.56.

Caris Life Sciences Trading Down 0.9%

The stock has a market capitalization of $4.23 billion and a price-to-earnings ratio of -1.97. The company has a quick ratio of 6.52, a current ratio of 7.05 and a debt-to-equity ratio of 0.64. The company has a 50-day simple moving average of $18.51.

Caris Life Sciences (NASDAQ:CAI) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.27. The firm had revenue of $292.89 million for the quarter, compared to analysts’ expectations of $281.00 million. Caris Life Sciences had a net margin of 3.75% and a return on equity of 98.28%. Caris Life Sciences’s revenue was up 125.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.73) earnings per share. Equities research analysts expect that Caris Life Sciences, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Caris Life Sciences

In related news, Director Jeff L. Vacirca acquired 31,050 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was bought at an average cost of $16.15 per share, with a total value of $501,457.50. Following the acquisition, the director directly owned 49,671 shares in the company, valued at approximately $802,186.65. The trade was a 166.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Hedge Funds Weigh In On Caris Life Sciences

Several institutional investors have recently made changes to their positions in the stock. MetLife Investment Management LLC increased its stake in shares of Caris Life Sciences by 84.0% in the fourth 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. Global Retirement Partners LLC boosted its position in shares of Caris Life Sciences by 99,900.0% during 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. Sterling Capital Management LLC grew its holdings 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 worth $34,000 after buying an additional 1,083 shares in the last quarter. Olistico Wealth LLC bought a new position in Caris Life Sciences in the 4th quarter worth approximately $31,000. Finally, PNC Financial Services Group Inc. increased its position in Caris Life Sciences by 839.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,644 shares of the company’s stock valued at $29,000 after acquiring an additional 1,469 shares during the period.

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.