Caris Life Sciences (NASDAQ:CAI) Given “Buy” Rating at BTIG Research

Caris Life Sciences (NASDAQ:CAI)‘s stock had its “buy” rating reissued by analysts at BTIG Research in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $32.00 price target on the stock. BTIG Research’s target price would indicate a potential upside of 70.67% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Piper Sandler initiated coverage on shares of Caris Life Sciences in a research note on Friday, April 10th. They issued a “neutral” rating and a $21.00 price objective on the stock. Weiss Ratings raised Caris Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Jefferies Financial Group assumed coverage on shares of Caris Life Sciences in a research report on Monday, April 13th. They issued a “buy” rating and a $28.00 price target on the stock. New Street Research initiated coverage on Caris Life Sciences in a research report on Friday, May 8th. They set a “market perform” rating for the company. Finally, Wolfe Research downgraded Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a report on Monday, June 1st. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $27.56.

Caris Life Sciences Price Performance

Shares of CAI opened at $18.75 on Thursday. The company has a market capitalization of $5.30 billion and a price-to-earnings ratio of -2.46. Caris Life Sciences has a fifty-two week low of $14.19 and a fifty-two week high of $42.50. The firm has a 50-day simple moving average of $17.39 and a 200-day simple moving average of $20.70. The company has a debt-to-equity ratio of 0.64, a quick ratio of 6.52 and a current ratio of 7.05.

Caris Life Sciences announced that its board has initiated a share repurchase plan on Monday, June 8th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Caris Life Sciences

In other news, Director Jeff L. Vacirca acquired 31,050 shares of the stock in a transaction on Monday, May 11th. The stock was bought at an average price of $16.15 per share, with a total value of $501,457.50. Following the completion of the transaction, the director directly owned 49,671 shares of the company’s stock, valued at $802,186.65. The trade was a 166.75% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 50.00% of the stock is owned by company insiders.

Institutional Trading of Caris Life Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Global Retirement Partners LLC increased its stake in shares of Caris Life Sciences by 99,900.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,000 shares of the company’s stock worth $27,000 after buying an additional 999 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Caris Life Sciences by 839.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,644 shares of the company’s stock valued at $29,000 after acquiring an additional 1,469 shares during the last quarter. Olistico Wealth LLC bought a new stake in shares of Caris Life Sciences during the 4th quarter worth $31,000. Fifth Third Bancorp purchased a new position in Caris Life Sciences in the 1st quarter worth about $31,000. Finally, Sterling Capital Management LLC increased its position in shares of Caris Life Sciences by 128.3% in the first quarter. Sterling Capital Management LLC now owns 1,927 shares of the company’s stock worth $34,000 after acquiring an additional 1,083 shares in 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.