Caris Life Sciences (NASDAQ:CAI) Shares Down 7.7% – Here’s Why

Caris Life Sciences, Inc. (NASDAQ:CAI) was down 7.7% during trading on Friday . The stock traded as low as $19.23 and last traded at $19.24. Approximately 1,037,905 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 2,385,899 shares. The stock had previously closed at $20.85.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Caris Life Sciences in a research report on Monday, December 29th. Canaccord Genuity Group lifted their price objective on Caris Life Sciences from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, December 22nd. Evercore set a $38.00 target price on Caris Life Sciences in a research report on Monday, January 5th. Wall Street Zen upgraded Caris Life Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Finally, Robert W. Baird initiated coverage on shares of Caris Life Sciences in a research report on Tuesday. They issued an “outperform” rating and a $26.00 price objective on the stock. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Caris Life Sciences presently has an average rating of “Hold” and an average price target of $31.33.

Caris Life Sciences Trading Down 6.3%

The company has a market cap of $5.51 billion and a P/E ratio of -42.46. The company has a debt-to-equity ratio of 0.79, a quick ratio of 9.36 and a current ratio of 9.93. The firm’s 50-day simple moving average is $25.44.

Insider Activity at Caris Life Sciences

In related news, insider Luke Thomas Power sold 62,250 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $26.58, for a total value of $1,654,605.00. Following the completion of the transaction, the insider owned 99,571 shares in the company, valued at $2,646,597.18. This trade represents a 38.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. UBS Group AG lifted its stake in Caris Life Sciences by 825.9% in the fourth quarter. UBS Group AG now owns 2,183,980 shares of the company’s stock valued at $58,924,000 after acquiring an additional 1,948,107 shares during the last quarter. Courier Capital LLC acquired a new position in Caris Life Sciences during the fourth quarter valued at approximately $231,000. China Universal Asset Management Co. Ltd. bought a new position in Caris Life Sciences in the 4th quarter worth $1,240,000. DekaBank Deutsche Girozentrale bought a new position in shares of Caris Life Sciences in the fourth quarter worth about $3,942,000. Finally, TD Waterhouse Canada Inc. bought a new position in Caris Life Sciences in the 4th quarter worth approximately $2,498,000.

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.