Caris Life Sciences, Inc. (NASDAQ:CAI) Stock Has Average Target Price of $26.50

Caris Life Sciences, Inc. (NASDAQ:CAI) has been assigned a consensus rating of “Hold” from the thirteen analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $26.50.

Several research firms have recently weighed in on CAI. Wall Street Zen upgraded Caris Life Sciences from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. BTIG Research raised their target price on shares of Caris Life Sciences from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Evercore reaffirmed an “outperform” rating and issued a $26.00 price target on shares of Caris Life Sciences in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Caris Life Sciences from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, September 16th. Finally, UBS Group began coverage on shares of Caris Life Sciences in a research report on Wednesday, September 9th. They set a “neutral” rating and a $28.00 price objective for the company.

Caris Life Sciences Stock Down 0.6%

Shares of Caris Life Sciences stock opened at $31.55 on Wednesday. The company has a market capitalization of $8.92 billion, a P/E ratio of 87.64 and a beta of 1.10. 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 business has a 50-day moving average of $23.83 and a two-hundred day moving average of $19.94. Caris Life Sciences has a 1 year low of $14.19 and a 1 year high of $33.65.

Caris Life Sciences declared that its Board of Directors has authorized a share buyback program on Monday, June 8th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Brian J. Brille sold 400,000 shares of the stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $30.33, for a total transaction of $12,132,000.00. Following the completion of the transaction, the insider directly owned 230,303 shares in the company, valued at approximately $6,985,089.99. This trade represents a 63.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Russel Denton sold 7,500 shares of the stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $31.82, for a total value of $238,650.00. Following the transaction, the insider owned 174,855 shares of the company’s stock, valued at approximately $5,563,886.10. The trade was a 4.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,004,712 shares of company stock worth $27,205,419. Corporate insiders own 50.00% of the company’s stock.

Hedge Funds Weigh In On Caris Life Sciences

A number of large investors have recently bought and sold shares of the company. Sterling Capital Management LLC grew its position in Caris Life Sciences by 128.3% in the first quarter. Sterling Capital Management LLC now owns 1,927 shares of the company’s stock valued at $34,000 after purchasing an additional 1,083 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Caris Life Sciences by 839.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,644 shares of the company’s stock worth $29,000 after buying an additional 1,469 shares in the last quarter. PEAK6 LLC lifted its position in Caris Life Sciences by 6.9% during the 4th quarter. PEAK6 LLC now owns 24,800 shares of the company’s stock worth $669,000 after buying an additional 1,600 shares in the last quarter. Strs Ohio boosted its stake in shares of Caris Life Sciences by 301.3% during the 1st quarter. Strs Ohio now owns 2,179 shares of the company’s stock worth $39,000 after buying an additional 1,636 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new position in shares of Caris Life Sciences during the 1st quarter worth about $31,000.

Caris Life Sciences Company Profile

Caris Life Sciences is a precision medicine and biotechnology company headquartered in Irving, Texas. Founded in 2008, the company combines molecular profiling, artificial intelligence and clinical data to support more informed decisions in cancer diagnosis and treatment.

Caris provides comprehensive tumor profiling and other laboratory testing services designed to identify genetic, molecular and immune characteristics of a patient’s cancer. Its offerings are intended to help physicians match patients with targeted therapies, immunotherapies and clinical trials, while also supporting cancer research and drug development.

The company serves healthcare providers, biopharmaceutical companies and academic or research institutions.