Entropy Technologies LP Invests $724,000 in Caris Life Sciences, Inc. $CAI

Entropy Technologies LP acquired a new stake in shares of Caris Life Sciences, Inc. (NASDAQ:CAI) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 40,503 shares of the company’s stock, valued at approximately $724,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UBS Group AG lifted its stake in Caris Life Sciences by 825.9% during the fourth quarter. UBS Group AG now owns 2,183,980 shares of the company’s stock worth $58,924,000 after purchasing an additional 1,948,107 shares during the last quarter. Zevenbergen Capital Investments LLC purchased a new position in Caris Life Sciences in the 4th quarter worth $14,655,000. DekaBank Deutsche Girozentrale bought a new stake in Caris Life Sciences in the fourth quarter worth $3,942,000. TD Waterhouse Canada Inc. purchased a new stake in Caris Life Sciences during the fourth quarter valued at about $2,498,000. Finally, Hamilton Lane Advisors LLC purchased a new stake in Caris Life Sciences during the fourth quarter valued at about $1,584,000.

Insider Buying and Selling

In other news, Director Jon Halbert acquired 68,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was acquired at an average price of $14.56 per share, for a total transaction of $990,080.00. Following the completion of the acquisition, the director owned 704,598 shares in the company, valued at $10,258,946.88. This trade represents a 10.68% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeff L. Vacirca acquired 31,050 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $16.15 per share, with a total value of $501,457.50. Following the acquisition, the director owned 49,671 shares of the company’s stock, valued at $802,186.65. This represents a 166.75% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 50.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wall Street Zen downgraded Caris Life Sciences from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. BTIG Research restated a “buy” rating and issued a $32.00 target price on shares of Caris Life Sciences in a report on Thursday, July 2nd. Piper Sandler assumed coverage on Caris Life Sciences in a research report on Friday, April 10th. They set a “neutral” rating and a $21.00 price target for the company. New Street Research started coverage on shares of Caris Life Sciences in a report on Friday, May 8th. They issued a “market perform” rating on the stock. Finally, Evercore set a $25.00 price objective on shares of Caris Life Sciences in a research report on Monday, July 6th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Caris Life Sciences presently has an average rating of “Hold” and a consensus target price of $26.11.

Caris Life Sciences Stock Performance

Caris Life Sciences stock opened at $15.59 on Wednesday. Caris Life Sciences, Inc. has a fifty-two week low of $14.19 and a fifty-two week high of $42.50. The stock’s 50 day simple moving average is $16.98 and its two-hundred day simple moving average is $19.24. The company has a debt-to-equity ratio of 0.64, a quick ratio of 6.52 and a current ratio of 7.05. The stock has a market cap of $4.41 billion and a price-to-earnings ratio of -2.05.

Caris Life Sciences declared that its Board of Directors has initiated a share repurchase plan on Monday, June 8th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to repurchase up to 2.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.