Analysts Set Caris Life Sciences, Inc. (NASDAQ:CAI) Price Target at $27.56

Caris Life Sciences, Inc. (NASDAQ:CAI) has received a consensus recommendation of “Hold” from the eleven analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $27.5556.

Several research analysts have weighed in on the company. BTIG Research cut their price objective 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. New Street Research assumed coverage on Caris Life Sciences in a research report on Friday, May 8th. They issued a “market perform” rating on the stock. Wolfe Research cut Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 1st. Canaccord Genuity Group cut their price objective on Caris Life Sciences from $30.00 to $22.00 and set a “hold” rating on the stock in a research report on Friday, March 13th. Finally, The Goldman Sachs Group assumed coverage on Caris Life Sciences in a research report on Wednesday, April 1st. They issued a “buy” rating and a $27.00 price objective on the stock.

Insider Activity

In other news, Director Jeff L. Vacirca bought 31,050 shares of the stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $16.15 per share, for a total transaction of $501,457.50. Following the completion of the purchase, the director directly owned 49,671 shares in the company, valued at $802,186.65. This represents a 166.75% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 50.00% of the stock is currently owned by insiders.

Institutional Trading of Caris Life Sciences

Several hedge funds have recently made changes to their positions in CAI. Global Retirement Partners LLC raised its stake in shares of 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 valued at $27,000 after buying an additional 999 shares during the period. PNC Financial Services Group Inc. raised 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 valued at $29,000 after buying an additional 1,469 shares during the period. Olistico Wealth LLC bought a new stake in shares of Caris Life Sciences in the fourth quarter valued at $31,000. Fifth Third Bancorp bought a new stake in shares of Caris Life Sciences in the first quarter valued at $31,000. Finally, Sterling Capital Management LLC raised its stake in shares of Caris Life Sciences by 128.3% in the first quarter. Sterling Capital Management LLC now owns 1,927 shares of the company’s stock valued at $34,000 after buying an additional 1,083 shares during the period.

Caris Life Sciences Stock Performance

CAI stock opened at $18.47 on Monday. The stock has a fifty day simple moving average of $17.69. The company has a debt-to-equity ratio of 0.64, a quick ratio of 6.52 and a current ratio of 7.05. Caris Life Sciences has a 1-year low of $14.19 and a 1-year high of $42.50. The stock has a market capitalization of $5.22 billion and a PE ratio of -2.43.

Caris Life Sciences announced that its Board of Directors has initiated a stock buyback plan on Monday, June 8th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

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.