Wall Street Zen Downgrades Caris Life Sciences (NASDAQ:CAI) to Sell

Caris Life Sciences (NASDAQ:CAI) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other equities research analysts also recently weighed in on the company. BTIG Research lifted their target price on Caris Life Sciences from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday. 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 for the company. Weiss Ratings upgraded shares of Caris Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Piper Sandler assumed coverage on shares of Caris Life Sciences in a research report on Friday, April 10th. They set a “neutral” rating and a $21.00 target price on the stock. Finally, Jefferies Financial Group started coverage on shares of Caris Life Sciences in a research note on Monday, April 13th. They set a “buy” rating and a $28.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.33.

Caris Life Sciences Price Performance

Shares of Caris Life Sciences stock opened at $22.74 on Friday. Caris Life Sciences has a one year low of $14.19 and a one year high of $42.50. 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 stock’s 50-day moving average is $17.22 and its 200 day moving average is $18.70. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of 63.17 and a beta of 0.68.

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 buy up to 2.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Jon Halbert acquired 68,000 shares of Caris Life Sciences stock in a transaction on Friday, May 15th. The stock was purchased at an average price of $14.56 per share, with a total value of $990,080.00. Following the completion of the purchase, the director owned 704,598 shares of the company’s stock, valued at approximately $10,258,946.88. The trade was a 10.68% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 50.00% of the company’s stock.

Hedge Funds Weigh In On Caris Life Sciences

Institutional investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. grew its position in Caris Life Sciences by 14.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,205,959 shares of the company’s stock valued at $248,377,000 after purchasing an additional 1,180,200 shares during the period. Braidwell LP raised its holdings in Caris Life Sciences by 6.8% during the fourth quarter. Braidwell LP now owns 7,816,142 shares of the company’s stock worth $210,880,000 after buying an additional 500,000 shares during the last quarter. PointState Capital LP raised its holdings in Caris Life Sciences by 73.0% during the fourth quarter. PointState Capital LP now owns 6,718,707 shares of the company’s stock worth $181,271,000 after buying an additional 2,834,986 shares during the last quarter. BlackRock Inc. bought a new position in shares of Caris Life Sciences in the second quarter valued at $98,666,000. Finally, Orbimed Advisors LLC grew its holdings in shares of Caris Life Sciences by 2.7% during the fourth quarter. Orbimed Advisors LLC now owns 3,116,011 shares of the company’s stock valued at $84,070,000 after buying an additional 81,153 shares during 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.