Caris Life Sciences (NASDAQ:CAI) Director Purchases $990,080.00 in Stock

Caris Life Sciences, Inc. (NASDAQ:CAI) Director Jon Halbert purchased 68,000 shares of the company’s stock in a transaction on Friday, May 15th. The stock was bought at an average cost of $14.56 per share, for a total transaction of $990,080.00. Following the acquisition, the director directly owned 704,598 shares of the company’s stock, valued at $10,258,946.88. This represents a 10.68% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Caris Life Sciences Stock Performance

CAI opened at $17.46 on Thursday. The company has a quick ratio of 6.52, a current ratio of 7.05 and a debt-to-equity ratio of 0.64. The firm has a market cap of $4.94 billion and a PE ratio of -2.29. The business has a fifty day simple moving average of $17.01 and a 200-day simple moving average of $19.99. Caris Life Sciences, Inc. has a fifty-two week low of $14.19 and a fifty-two week high of $42.50.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. JPMorgan Chase & Co. cut their price objective on Caris Life Sciences from $35.00 to $30.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. The Goldman Sachs Group assumed coverage on shares of Caris Life Sciences in a report on Wednesday, April 1st. They issued a “buy” rating and a $27.00 target price for the company. Citigroup cut their price target on shares of Caris Life Sciences from $35.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Wall Street Zen downgraded shares of Caris Life Sciences from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, New Street Research started coverage on shares of Caris Life Sciences in a research note on Friday, May 8th. They issued a “market perform” rating for the company. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $26.11.

Institutional Trading of Caris Life Sciences

A number of hedge funds have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. grew its position in Caris Life Sciences by 14.7% during the fourth 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 in the last quarter. Braidwell LP boosted its stake in shares of Caris Life Sciences by 6.8% during the 4th quarter. Braidwell LP now owns 7,816,142 shares of the company’s stock valued at $210,880,000 after buying an additional 500,000 shares during the period. PointState Capital LP grew its holdings in shares of Caris Life Sciences by 73.0% during the 4th quarter. PointState Capital LP now owns 6,718,707 shares of the company’s stock valued at $181,271,000 after acquiring an additional 2,834,986 shares in the last quarter. Orbimed Advisors LLC increased its stake in shares of Caris Life Sciences by 2.7% in the fourth quarter. Orbimed Advisors LLC now owns 3,116,011 shares of the company’s stock worth $84,070,000 after acquiring an additional 81,153 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Caris Life Sciences by 185.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,445,281 shares of the company’s stock worth $65,974,000 after acquiring an additional 1,587,176 shares in the last quarter.

Caris Life Sciences Company 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.