BTIG Research Issues Positive Forecast for Caris Life Sciences (NASDAQ:CAI) Stock Price

Caris Life Sciences (NASDAQ:CAI) had its price objective raised by BTIG Research from $32.00 to $33.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

CAI has been the topic of several other research reports. JPMorgan Chase & Co. dropped their target price 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. Wolfe Research downgraded Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 1st. Weiss Ratings upgraded Caris Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Robert W. Baird set a $22.00 target price on Caris Life Sciences in a report on Friday, May 8th. Finally, Evercore restated an “outperform” rating and set a $26.00 target price on shares of Caris Life Sciences in a research report on Thursday. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.33.

Caris Life Sciences Trading Up 21.6%

NASDAQ CAI opened at $20.00 on Thursday. 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 stock has a market capitalization of $5.65 billion, a P/E ratio of 55.56 and a beta of 0.68. Caris Life Sciences has a 52-week low of $14.19 and a 52-week high of $42.50. The firm has a 50-day moving average price of $17.10 and a 200 day moving average price of $18.73.

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

Insider Activity

In other Caris Life Sciences news, Director Jon Halbert purchased 68,000 shares of Caris Life Sciences stock in a transaction on Friday, May 15th. The shares were bought at an average price of $14.56 per share, with a total value of $990,080.00. Following the completion of the acquisition, the director directly owned 704,598 shares of the company’s stock, valued at approximately $10,258,946.88. This trade represents a 10.68% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeff L. Vacirca acquired 31,050 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $16.15 per share, with a total value of $501,457.50. Following the completion of the purchase, the director owned 49,671 shares in the company, valued at approximately $802,186.65. This represents a 166.75% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 50.00% of the stock is owned by corporate insiders.

Institutional Trading of Caris Life Sciences

Several institutional investors and hedge funds have recently made changes to their positions in CAI. MetLife Investment Management LLC boosted its stake in shares of Caris Life Sciences by 84.0% during the 4th quarter. MetLife Investment Management LLC now owns 1,654 shares of the company’s stock worth $45,000 after purchasing an additional 755 shares during the last quarter. Global Retirement Partners LLC raised its holdings in 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. 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 in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Caris Life Sciences by 839.4% during the first 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 in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its stake in Caris Life Sciences by 15.0% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 11,932 shares of the company’s stock valued at $322,000 after acquiring an additional 1,560 shares during the last quarter.

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.