Caris Life Sciences, Inc. (NASDAQ:CAI) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Caris Life Sciences, Inc. (NASDAQ:CAI) have earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $26.3333.

A number of equities research analysts recently commented on CAI shares. BTIG Research lifted their price target 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. New Street Research began coverage on Caris Life Sciences in a research report on Friday, May 8th. They issued a “market perform” rating for the company. Evercore restated an “outperform” rating and issued a $26.00 target price on shares of Caris Life Sciences in a research note on Thursday, August 6th. Robert W. Baird set a $22.00 price target on Caris Life Sciences in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. decreased their price objective on Caris Life Sciences from $35.00 to $30.00 and set an “overweight” rating for the company in a report on Friday, May 8th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. raised its holdings in Caris Life Sciences by 14.7% during 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 acquiring an additional 1,180,200 shares during the period. Braidwell LP grew its position in shares of Caris Life Sciences by 3.1% in the second quarter. Braidwell LP now owns 8,256,032 shares of the company’s stock valued at $147,122,000 after purchasing an additional 246,585 shares in the last quarter. PointState Capital LP bought a new stake in shares of Caris Life Sciences during the 2nd quarter valued at $121,690,000. BlackRock Inc. bought a new position in Caris Life Sciences in the 2nd quarter worth about $98,666,000. Finally, California State Teachers Retirement System grew its holdings in Caris Life Sciences by 64,861.8% during the 2nd quarter. California State Teachers Retirement System now owns 3,249,388 shares of the company’s stock valued at $57,904,000 after buying an additional 3,244,386 shares in the last quarter.

Caris Life Sciences Stock Down 2.8%

Caris Life Sciences stock opened at $25.63 on Friday. The firm has a 50 day moving average price of $19.27 and a 200-day moving average price of $18.72. The company has a quick ratio of 4.88, a current ratio of 5.53 and a debt-to-equity ratio of 0.66. Caris Life Sciences has a twelve month low of $14.19 and a twelve month high of $39.18. The company has a market capitalization of $7.24 billion, a P/E ratio of 71.19 and a beta of 0.68.

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

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.