Caris Life Sciences (NASDAQ:CAI) President David Baxley Spetzler Sells 478,000 Shares

Caris Life Sciences, Inc. (NASDAQ:CAI) President David Baxley Spetzler sold 478,000 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $24.86, for a total value of $11,883,080.00. Following the completion of the transaction, the president owned 1,052,083 shares in the company, valued at approximately $26,154,783.38. This trade represents a 31.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

David Baxley Spetzler also recently made the following trade(s):

• On Friday, September 4th, David Baxley Spetzler sold 119,212 shares of Caris Life Sciences stock. The shares were sold at an average price of $24.76, for a total value of $2,951,689.12.

Caris Life Sciences Stock Down 1.0%

Shares of NASDAQ:CAI opened at $25.07 on Friday. The stock has a 50-day simple moving average of $19.98 and a 200-day simple moving average of $18.85. The stock has a market capitalization of $7.08 billion, a P/E ratio of 69.64 and a beta of 1.10. Caris Life Sciences, Inc. has a 1 year low of $14.19 and a 1 year high of $36.65. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.88 and a current ratio of 5.53.

Caris Life Sciences declared that its Board of Directors has authorized a share repurchase plan on Monday, June 8th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 2.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CAI shares. Wolfe Research lowered shares of Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 1st. New Street Research initiated coverage on shares of Caris Life Sciences in a report on Friday, May 8th. They set a “market perform” rating on the stock. Wall Street Zen raised shares of Caris Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. BTIG Research increased their price target on Caris Life Sciences from $32.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. reduced their price objective on 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. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its holdings in Caris Life Sciences by 14.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,205,959 shares of the company’s stock valued at $248,377,000 after purchasing an additional 1,180,200 shares in the last quarter. Braidwell LP lifted its holdings in Caris Life Sciences by 3.1% in the 2nd quarter. Braidwell LP now owns 8,256,032 shares of the company’s stock worth $147,122,000 after buying an additional 246,585 shares in the last quarter. PointState Capital LP purchased a new position in Caris Life Sciences in the 2nd quarter valued at about $121,690,000. BlackRock Inc. purchased a new position in Caris Life Sciences in the 2nd quarter valued at about $98,666,000. Finally, California State Teachers Retirement System grew its stake in shares of Caris Life Sciences by 64,861.8% during the second quarter. California State Teachers Retirement System now owns 3,249,388 shares of the company’s stock valued at $57,904,000 after acquiring an additional 3,244,386 shares in 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.