Caris Life Sciences, Inc. (NASDAQ:CAI) Given Average Rating of “Moderate Buy” by Analysts

Shares of Caris Life Sciences, Inc. (NASDAQ:CAI) have been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $26.3333.

CAI has been the topic of a number of research reports. Weiss Ratings raised shares of Caris Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Jefferies Financial Group initiated coverage on shares of Caris Life Sciences in a research report on Monday, April 13th. They set a “buy” rating and a $28.00 price objective for the company. Evercore reiterated an “outperform” rating and set a $26.00 price objective on shares of Caris Life Sciences in a research note on Thursday. JPMorgan Chase & Co. cut 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 report on Friday, May 8th. Finally, BTIG Research lifted their target price on Caris Life Sciences from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday.

Insider Buying and Selling at Caris Life Sciences

In other news, Director Jeff L. Vacirca purchased 31,050 shares of the stock in a transaction dated Monday, May 11th. The stock was acquired at an average price of $16.15 per share, for a total transaction of $501,457.50. Following the completion of the transaction, 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 purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jon Halbert acquired 68,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was purchased 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. This trade represents a 10.68% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 50.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new stake in shares of Caris Life Sciences in the second quarter valued at approximately $607,000. BlackRock Inc. bought a new position in Caris Life Sciences in the 2nd quarter worth approximately $98,666,000. Deutsche Bank AG bought a new position in Caris Life Sciences in the 2nd quarter worth approximately $778,000. Perigon Wealth Management LLC acquired a new stake in Caris Life Sciences in the 2nd quarter valued at approximately $438,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Caris Life Sciences during the 2nd quarter valued at $1,525,000.

Caris Life Sciences Stock Performance

CAI stock opened at $22.74 on Tuesday. The stock’s 50 day simple moving average is $17.22 and its 200 day simple moving average is $18.76. Caris Life Sciences has a 12-month low of $14.19 and a 12-month high of $42.50. The firm has a market cap of $6.43 billion, a P/E ratio of 63.17 and a beta of 0.68. The company has a current ratio of 5.53, a quick ratio of 6.52 and a debt-to-equity ratio of 0.66.

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

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.