Mangrove Partners IM LLC Invests $1.15 Million in Caris Life Sciences, Inc. $CAI

Mangrove Partners IM LLC purchased a new stake in shares of Caris Life Sciences, Inc. (NASDAQ:CAI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 42,483 shares of the company’s stock, valued at approximately $1,146,000.

Other hedge funds have also modified their holdings of the company. Global Retirement Partners LLC grew its stake in shares of 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 valued at $27,000 after purchasing an additional 999 shares during the last quarter. Olistico Wealth LLC bought a new stake in shares of Caris Life Sciences during the fourth quarter valued at approximately $31,000. MetLife Investment Management LLC grew its stake in shares of 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 during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Caris Life Sciences during the fourth quarter valued at approximately $67,000. Finally, Federated Hermes Inc. bought a new stake in shares of Caris Life Sciences during the fourth quarter valued at approximately $81,000.

Caris Life Sciences Stock Down 1.1%

Shares of NASDAQ:CAI opened at $17.98 on Wednesday. Caris Life Sciences, Inc. has a 12 month low of $14.19 and a 12 month high of $42.50. 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 stock’s fifty day moving average is $17.74. The firm has a market capitalization of $5.08 billion and a price-to-earnings ratio of -2.36.

Caris Life Sciences announced that its Board of Directors has initiated a stock repurchase plan on Monday, June 8th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Caris Life Sciences

In other Caris Life Sciences news, Director Jeff L. Vacirca purchased 31,050 shares of the stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $16.15 per share, for a total transaction of $501,457.50. Following the purchase, the director owned 49,671 shares of the company’s stock, valued at approximately $802,186.65. This represents a 166.75% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 50.00% of the company’s stock.

Analyst Ratings Changes

CAI has been the topic of a number of recent analyst reports. New Street Research initiated coverage on shares of Caris Life Sciences in a research report on Friday, May 8th. They set a “market perform” rating on the stock. BTIG Research dropped their price objective on shares of Caris Life Sciences from $38.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Jefferies Financial Group started coverage on shares of Caris Life Sciences in a report on Monday, April 13th. They set a “buy” rating and a $28.00 price objective on the stock. Wall Street Zen lowered shares of Caris Life Sciences from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Robert W. Baird set a $22.00 price objective on shares of Caris Life Sciences in a report on Friday, May 8th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.56.

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.