Caris Life Sciences (NASDAQ:CAI) Given Buy Rating at BTIG Research

Caris Life Sciences (NASDAQ:CAI)‘s stock had its “buy” rating reiterated by equities research analysts at BTIG Research in a note issued to investors on Thursday,Benzinga reports. They presently have a $32.00 price target on the stock. BTIG Research’s price objective suggests a potential upside of 70.67% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. Wolfe Research cut shares of Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 1st. Jefferies Financial Group assumed coverage on shares of Caris Life Sciences in a report on Monday, April 13th. They issued a “buy” rating and a $28.00 target price on the stock. Wall Street Zen lowered shares of Caris Life Sciences from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Canaccord Genuity Group decreased their price target on shares of Caris Life Sciences from $30.00 to $22.00 and set a “hold” rating for the company in a report on Friday, March 13th. Finally, Piper Sandler assumed coverage on Caris Life Sciences in a research report on Friday, April 10th. They issued a “neutral” rating and a $21.00 price target on the stock. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $27.56.

Caris Life Sciences Stock Performance

Shares of NASDAQ CAI opened at $18.75 on Thursday. Caris Life Sciences has a 52 week low of $14.19 and a 52 week high of $42.50. The company has a debt-to-equity ratio of 0.64, a quick ratio of 6.52 and a current ratio of 7.05. The business’s 50-day simple moving average is $17.39 and its 200-day simple moving average is $20.70. The firm has a market cap of $5.30 billion and a price-to-earnings ratio of -2.46.

Caris Life Sciences announced that its board has authorized a stock repurchase plan on Monday, June 8th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, Director Jeff L. Vacirca bought 31,050 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average price of $16.15 per share, with a total value 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. The trade was a 166.75% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 50.00% of the company’s stock.

Institutional Trading of Caris Life Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of CAI. Diversified Trust Co. bought a new position in shares of Caris Life Sciences during the 4th quarter worth about $540,000. Olistico Wealth LLC acquired a new position in Caris Life Sciences in the 4th quarter valued at approximately $31,000. Zevenbergen Capital Investments LLC acquired a new stake in shares of Caris Life Sciences during the 4th quarter worth approximately $14,655,000. Hamilton Lane Advisors LLC bought a new position in Caris Life Sciences in the fourth quarter worth $1,584,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Caris Life Sciences by 26.5% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 75,330 shares of the company’s stock worth $2,032,000 after buying an additional 15,778 shares in 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.