Caris Life Sciences (NASDAQ:CAI) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Caris Life Sciences (NASDAQ:CAI) from a hold rating to a sell rating in a research note published on Saturday.

Several other equities research analysts have also recently commented on the company. Citigroup cut their target price on Caris Life Sciences from $35.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Robert W. Baird set a $22.00 price objective on shares of Caris Life Sciences in a report on Friday, May 8th. Evercore reissued an “outperform” rating and issued a $26.00 price objective on shares of Caris Life Sciences in a research report on Thursday. Jefferies Financial Group assumed coverage on shares of Caris Life Sciences in a report on Monday, April 13th. They set a “buy” rating and a $28.00 target price for the company. Finally, BTIG Research lifted their price target 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. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Caris Life Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $26.33.

Caris Life Sciences Stock Up 13.7%

CAI stock opened at $22.74 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 5.53 and a quick ratio of 6.52. The stock has a market capitalization of $6.43 billion, a P/E ratio of 63.17 and a beta of 0.68. Caris Life Sciences has a fifty-two week low of $14.19 and a fifty-two week high of $42.50. The business has a 50-day moving average of $17.22 and a 200-day moving average of $18.76.

Caris Life Sciences declared that its board has authorized a stock buyback program on Monday, June 8th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CAI. T. Rowe Price Investment Management Inc. raised its holdings in shares of 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 grew 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 purchasing an additional 500,000 shares during the period. PointState Capital LP increased its position 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. acquired a new position in Caris Life Sciences during the second quarter worth approximately $98,666,000. Finally, Orbimed Advisors LLC raised its stake in Caris Life Sciences by 2.7% in 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 period.

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.