Caris Life Sciences (NASDAQ:CAI) Hits New 12-Month Low – Here’s Why

Shares of Caris Life Sciences, Inc. (NASDAQ:CAI) reached a new 52-week low during trading on Tuesday . The company traded as low as $20.35 and last traded at $20.35, with a volume of 28483 shares trading hands. The stock had previously closed at $20.62.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Evercore set a $38.00 price target on shares of Caris Life Sciences in a report on Monday, January 5th. Robert W. Baird assumed coverage on Caris Life Sciences in a research note on Tuesday. They issued an “outperform” rating and a $26.00 target price on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Caris Life Sciences in a research report on Monday, December 29th. Canaccord Genuity Group upped their price objective on shares of Caris Life Sciences from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, December 22nd. Finally, Wall Street Zen upgraded shares of Caris Life Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $31.33.

Caris Life Sciences Trading Up 0.7%

The business has a fifty day simple moving average of $25.80. The stock has a market capitalization of $5.86 billion and a price-to-earnings ratio of -45.13. The company has a current ratio of 9.93, a quick ratio of 9.36 and a debt-to-equity ratio of 0.79.

Insider Activity

In related news, insider Luke Thomas Power sold 62,250 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $26.58, for a total value of $1,654,605.00. Following the transaction, the insider owned 99,571 shares in the company, valued at $2,646,597.18. The trade was a 38.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Hedge Funds Weigh In On Caris Life Sciences

Hedge funds have recently bought and sold shares of the business. Diversified Trust Co. bought a new position in shares of Caris Life Sciences during the fourth quarter worth $540,000. Olistico Wealth LLC bought a new position in shares of Caris Life Sciences during the 4th quarter valued at about $31,000. Zevenbergen Capital Investments LLC purchased a new position in shares of Caris Life Sciences during the fourth quarter valued at about $14,655,000. Hamilton Lane Advisors LLC bought a new stake in shares of Caris Life Sciences in the fourth quarter worth about $1,584,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Caris Life Sciences by 26.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 75,330 shares of the company’s stock worth $2,032,000 after buying an additional 15,778 shares in the last quarter.

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.