Caris Life Sciences (NASDAQ:CAI) Shares Up 8.1% – Here’s Why

Caris Life Sciences, Inc. (NASDAQ:CAI)’s stock price shot up 8.1% during trading on Thursday . The company traded as high as $16.32 and last traded at $16.7320. 99,914 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 2,537,484 shares. The stock had previously closed at $15.48.

Analyst Ratings Changes

A number of research firms recently commented on CAI. BTIG Research dropped their price objective on Caris Life Sciences from $38.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Robert W. Baird set a $22.00 target price on shares of Caris Life Sciences in a research report on Friday, May 8th. New Street Research started coverage on shares of Caris Life Sciences in a research report on Friday, May 8th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. lowered 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 research report on Friday, May 8th. Finally, Canaccord Genuity Group lowered their target price on shares of Caris Life Sciences from $30.00 to $22.00 and set a “hold” rating on the stock in a research report on Friday, March 13th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Caris Life Sciences presently has a consensus rating of “Hold” and a consensus target price of $27.56.

Caris Life Sciences Price Performance

The company has a current ratio of 7.05, a quick ratio of 6.52 and a debt-to-equity ratio of 0.64. The firm has a 50 day simple moving average of $17.93. The company has a market cap of $4.88 billion and a price-to-earnings ratio of -2.26.

Insider Buying and Selling at Caris Life Sciences

In related news, Director Jeff L. Vacirca bought 31,050 shares of Caris Life Sciences stock in a transaction that occurred on 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 purchase, the director owned 49,671 shares in the company, valued at approximately $802,186.65. This represents a 166.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 50.00% of the company’s stock.

Institutional Investors Weigh In On Caris Life Sciences

Several institutional investors and hedge funds have recently made changes to their positions in CAI. Global Retirement Partners LLC boosted its stake in shares of Caris Life Sciences by 99,900.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 999 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Caris Life Sciences by 839.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,644 shares of the company’s stock valued at $29,000 after acquiring an additional 1,469 shares during the last quarter. Olistico Wealth LLC bought a new position in shares of Caris Life Sciences in the fourth quarter valued at approximately $31,000. Fifth Third Bancorp bought a new position in shares of Caris Life Sciences in the first quarter valued at approximately $31,000. Finally, Sterling Capital Management LLC raised its stake in shares of Caris Life Sciences by 128.3% in the first quarter. Sterling Capital Management LLC now owns 1,927 shares of the company’s stock valued at $34,000 after acquiring an additional 1,083 shares during 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.