Caris Life Sciences (NASDAQ:CAI) Price Target Raised to $30.00

Caris Life Sciences (NASDAQ:CAI) had its target price raised by Canaccord Genuity Group from $22.00 to $30.00 in a report published on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

A number of other brokerages also recently commented on CAI. JPMorgan Chase & Co. upped their price objective on shares of Caris Life Sciences from $25.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 14th. Weiss Ratings cut shares of Caris Life Sciences from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, October 2nd. Evercore reaffirmed an “outperform” rating and issued a $26.00 target price on shares of Caris Life Sciences in a report on Thursday, August 6th. UBS Group assumed coverage on shares of Caris Life Sciences in a research note on Wednesday, September 9th. They set a “neutral” rating and a $28.00 price target on the stock. Finally, BTIG Research boosted their price target on shares of Caris Life Sciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.55.

Caris Life Sciences Stock Performance

NASDAQ:CAI opened at $32.35 on Monday. The firm’s fifty day moving average price is $27.63 and its 200 day moving average price is $21.22. Caris Life Sciences has a 1-year low of $14.19 and a 1-year high of $33.13. The company has a debt-to-equity ratio of 0.66, a current ratio of 5.53 and a quick ratio of 4.88. The firm has a market cap of $9.14 billion, a price-to-earnings ratio of 86.42 and a beta of 0.86.

Insider Activity

In related news, President David Spetzler sold 119,212 shares of the company’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $24.76, for a total transaction of $2,951,689.12. Following the transaction, the president owned 1,182,871 shares of the company’s stock, valued at $29,287,885.96. This represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Brian J. Brille sold 400,000 shares of the company’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $30.33, for a total value of $12,132,000.00. Following the transaction, the insider directly owned 230,303 shares in the company, valued at $6,985,089.99. This represents a 63.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,004,712 shares of company stock valued at $27,205,419 in the last three months. 50.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Caris Life Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. Braidwell LP lifted its stake in shares of Caris Life Sciences by 3.1% in the second quarter. Braidwell LP now owns 8,256,032 shares of the company’s stock valued at $147,122,000 after purchasing an additional 246,585 shares during the period. PointState Capital LP purchased a new stake in shares of Caris Life Sciences during the 2nd quarter worth approximately $121,690,000. BlackRock Inc. acquired a new stake in shares of Caris Life Sciences in the 2nd quarter worth approximately $98,666,000. Canada Pension Plan Investment Board acquired a new stake in shares of Caris Life Sciences in the 2nd quarter worth approximately $24,502,000. Finally, Amundi grew its holdings in shares of Caris Life Sciences by 5,709.5% in the 2nd quarter. Amundi now owns 1,218,364 shares of the company’s stock worth $21,711,000 after acquiring an additional 1,197,392 shares during the period.

About Caris Life Sciences

Caris Life Sciences is a biotechnology and precision-medicine company that uses molecular profiling and artificial intelligence to support cancer diagnosis, treatment selection and drug development. The company analyzes tumor and blood samples to identify genomic, molecular and immune characteristics that may help physicians better understand a patient’s disease and select targeted therapies.

Its offerings include comprehensive tumor profiling, liquid-biopsy testing and data-driven clinical decision-support tools.