Entropy Technologies LP Buys Shares of 40,503 Caris Life Sciences, Inc. $CAI

Entropy Technologies LP purchased a new position in Caris Life Sciences, Inc. (NASDAQ:CAI) during the first quarter, HoldingsChannel.com reports. The fund purchased 40,503 shares of the company’s stock, valued at approximately $724,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zevenbergen Capital Investments LLC purchased a new position in Caris Life Sciences during the fourth quarter valued at $14,655,000. Hamilton Lane Advisors LLC purchased a new stake in shares of Caris Life Sciences in the fourth quarter worth $1,584,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of 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 valued at $2,032,000 after acquiring an additional 15,778 shares in the last quarter. Oak Ridge Investments LLC bought a new position in shares of Caris Life Sciences during the fourth quarter valued at $589,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Caris Life Sciences in the 4th quarter worth about $370,000.

Analyst Ratings Changes

Several analysts recently commented on the stock. Evercore set a $25.00 price objective on shares of Caris Life Sciences in a research report on Monday, July 6th. Citigroup decreased their target price on shares of Caris Life Sciences from $35.00 to $28.00 and set a “buy” rating for the company in a report on Friday, May 8th. JPMorgan Chase & Co. dropped their target price on shares of Caris Life Sciences from $35.00 to $30.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. The Goldman Sachs Group initiated coverage on shares of Caris Life Sciences in a report on Wednesday, April 1st. They set a “buy” rating and a $27.00 price target on the stock. Finally, New Street Research began coverage on shares of Caris Life Sciences in a report on Friday, May 8th. They issued a “market perform” rating for the company. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $26.11.

Caris Life Sciences Trading Down 0.3%

Caris Life Sciences stock opened at $15.59 on Wednesday. Caris Life Sciences, Inc. has a one year low of $14.19 and a one year high of $42.50. The business’s fifty day moving average is $16.98 and its 200 day moving average is $19.24. The stock has a market capitalization of $4.41 billion and a PE ratio of -2.05. The company has a debt-to-equity ratio of 0.64, a current ratio of 7.05 and a quick ratio of 6.52.

Caris Life Sciences announced that its Board of Directors has authorized a share repurchase plan on Monday, June 8th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 2.1% of its stock through open market purchases. Stock buyback plans are often an indication 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 stock in a transaction on Monday, May 11th. The shares were acquired at an average price of $16.15 per share, for a total transaction of $501,457.50. Following the purchase, the director owned 49,671 shares of the company’s stock, valued at approximately $802,186.65. The trade was a 166.75% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jon Halbert purchased 68,000 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were bought at an average cost of $14.56 per share, for a total transaction of $990,080.00. Following the acquisition, the director owned 704,598 shares in the company, valued at approximately $10,258,946.88. The trade was a 10.68% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 50.00% of the stock is currently owned by corporate insiders.

Caris Life Sciences 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.