Legal & General Group Plc Takes Position in Caris Life Sciences, Inc. $CAI

Legal & General Group Plc acquired a new position in shares of Caris Life Sciences, Inc. (NASDAQ:CAI) in the second quarter, Holdings Channel.com reports. The fund acquired 32,070 shares of the company’s stock, valued at approximately $571,000.

A number of other institutional investors have also added to or reduced their stakes in the company. MetLife Investment Management LLC raised its position in Caris Life Sciences by 84.0% during the fourth quarter. MetLife Investment Management LLC now owns 1,654 shares of the company’s stock valued at $45,000 after purchasing an additional 755 shares in the last quarter. Global Retirement Partners LLC lifted its stake in Caris Life Sciences by 99,900.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,000 shares of the company’s stock worth $27,000 after purchasing an additional 999 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Caris Life Sciences by 128.3% in the 1st quarter. Sterling Capital Management LLC now owns 1,927 shares of the company’s stock worth $34,000 after purchasing an additional 1,083 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Caris Life Sciences by 839.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,644 shares of the company’s stock valued at $29,000 after purchasing an additional 1,469 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Caris Life Sciences by 15.0% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 11,932 shares of the company’s stock valued at $322,000 after buying an additional 1,560 shares in the last quarter.

Caris Life Sciences Trading Down 1.0%

NASDAQ CAI opened at $24.82 on Wednesday. The firm has a market cap of $7.01 billion, a PE ratio of 68.94 and a beta of 1.10. Caris Life Sciences, Inc. has a 1-year low of $14.19 and a 1-year high of $35.20. The stock has a 50-day moving average of $20.25 and a 200-day moving average of $18.89. The company has a current ratio of 5.53, a quick ratio of 4.88 and a debt-to-equity ratio of 0.66.

Caris Life Sciences declared that its Board of Directors has initiated a stock repurchase program on Monday, June 8th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Caris Life Sciences news, President David Baxley Spetzler sold 478,000 shares of Caris Life Sciences stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $24.86, for a total value of $11,883,080.00. Following the transaction, the president directly owned 1,052,083 shares of the company’s stock, valued at $26,154,783.38. The trade was a 31.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 50.00% of the stock is owned by company insiders.

Analyst Ratings Changes

CAI has been the subject of a number of recent research reports. Wolfe Research downgraded Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 1st. Weiss Ratings upgraded shares of Caris Life Sciences from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Evercore reissued an “outperform” rating and set a $26.00 price target on shares of Caris Life Sciences in a research note on Thursday, August 6th. BTIG Research upped their price objective on shares of Caris Life Sciences from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen raised shares of Caris Life Sciences from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.33.

Caris Life Sciences 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.