Oddo BHF Asset Management Sas Sells 52,774 Shares of Caris Life Sciences, Inc. $CAI

Oddo BHF Asset Management Sas lowered its stake in shares of Caris Life Sciences, Inc. (NASDAQ:CAI) by 32.5% in the first quarter, Holdings Channel reports. The firm owned 109,539 shares of the company’s stock after selling 52,774 shares during the period. Oddo BHF Asset Management Sas’ holdings in Caris Life Sciences were worth $1,959,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Global Retirement Partners LLC lifted 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 worth $27,000 after buying an additional 999 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings 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 worth $29,000 after acquiring an additional 1,469 shares during the period. Fifth Third Bancorp acquired a new position in Caris Life Sciences during the 1st quarter worth $31,000. Sterling Capital Management LLC lifted its position in Caris Life Sciences by 128.3% during the 1st quarter. Sterling Capital Management LLC now owns 1,927 shares of the company’s stock worth $34,000 after acquiring an additional 1,083 shares during the last quarter. Finally, Strs Ohio boosted its holdings in Caris Life Sciences by 301.3% during the first quarter. Strs Ohio now owns 2,179 shares of the company’s stock valued at $39,000 after acquiring an additional 1,636 shares during the period.

Caris Life Sciences Price Performance

Shares of Caris Life Sciences stock opened at $16.09 on Friday. The firm has a market cap of $4.55 billion and a P/E ratio of -2.11. The firm’s 50-day simple moving average is $16.98 and its 200-day simple moving average is $19.07. Caris Life Sciences, Inc. has a twelve month low of $14.19 and a twelve month 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.

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

Insider Transactions 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 shares were bought at an average cost of $16.15 per share, with a total value of $501,457.50. Following the completion of the acquisition, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jon Halbert acquired 68,000 shares of the stock in a transaction dated Friday, May 15th. The stock was bought at an average price of $14.56 per share, for a total transaction of $990,080.00. Following the completion of the purchase, the director owned 704,598 shares in the company, valued at approximately $10,258,946.88. This trade represents a 10.68% increase in their position. The disclosure for this purchase is available in the SEC filing. 50.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on CAI. Robert W. Baird set a $22.00 price objective on Caris Life Sciences in a research note on Friday, May 8th. Evercore set a $25.00 target price on Caris Life Sciences in a research note on Monday, July 6th. JPMorgan Chase & Co. dropped their price target on Caris Life Sciences from $35.00 to $30.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Piper Sandler initiated coverage on Caris Life Sciences in a report on Friday, April 10th. They set a “neutral” rating and a $21.00 price target for the company. Finally, Weiss Ratings raised Caris Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $26.11.

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.