Caris Life Sciences, Inc. (NASDAQ:CAI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Caris Life Sciences, Inc. (NASDAQ:CAI) has been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and seven have issued a buy recommendation on 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 subject of a number of research reports. Robert W. Baird set a $22.00 target price on Caris Life Sciences in a research note on Friday, May 8th. BTIG Research upped their target price on Caris Life Sciences from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Weiss Ratings upgraded shares of Caris Life Sciences from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Evercore reaffirmed an “outperform” rating and issued a $26.00 price objective on shares of Caris Life Sciences in a research report on Thursday, August 6th. Finally, Citigroup reduced 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.

Caris Life Sciences Stock Performance

CAI stock opened at $24.80 on Friday. The company has a quick ratio of 4.88, a current ratio of 5.53 and a debt-to-equity ratio of 0.66. Caris Life Sciences has a twelve month low of $14.19 and a twelve month high of $37.42. The company has a market cap of $7.01 billion, a P/E ratio of 68.89 and a beta of 1.10. The business’s fifty day moving average is $19.71 and its 200-day moving average is $18.77.

Caris Life Sciences announced that its Board of Directors has initiated a share buyback program on Monday, June 8th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Caris Life Sciences

Hedge funds and other institutional investors have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. increased its position 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 worth $248,377,000 after purchasing an additional 1,180,200 shares in the last quarter. Braidwell LP grew its stake in shares of Caris Life Sciences by 3.1% during the second 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 during the last quarter. PointState Capital LP acquired a new position in shares of Caris Life Sciences during the second quarter worth $121,690,000. BlackRock Inc. bought a new position in shares of Caris Life Sciences in the 2nd quarter valued at $98,666,000. Finally, California State Teachers Retirement System boosted its holdings in shares of Caris Life Sciences by 64,861.8% during the 2nd 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.