Caris Life Sciences (NASDAQ:CAI) President Sells 478,000 Shares of Stock

Caris Life Sciences, Inc. (NASDAQ:CAI) President David Baxley Spetzler sold 478,000 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $24.86, for a total value of $11,883,080.00. Following the sale, the president directly owned 1,052,083 shares of the company’s stock, valued at approximately $26,154,783.38. This trade represents a 31.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

David Baxley Spetzler also recently made the following trade(s):

• On Friday, September 4th, David Baxley Spetzler sold 119,212 shares of Caris Life Sciences stock. The shares were sold at an average price of $24.76, for a total transaction of $2,951,689.12.

Caris Life Sciences Trading Down 1.0%

Shares of NASDAQ:CAI traded down $0.25 during mid-day trading on Friday, reaching $25.07. 4,711,249 shares of the company were exchanged, compared to its average volume of 3,206,680. 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 firm’s 50-day simple moving average is $19.85 and its 200 day simple moving average is $18.80. Caris Life Sciences, Inc. has a 1 year low of $14.19 and a 1 year high of $36.65. The firm has a market cap of $7.08 billion, a price-to-earnings ratio of 69.64 and a beta of 1.10.

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

Analyst Ratings Changes

Several equities analysts recently commented on the company. Weiss Ratings raised Caris Life Sciences from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 21st. BTIG Research boosted their price objective 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, August 6th. Robert W. Baird set a $22.00 price objective on shares of Caris Life Sciences in a research note on Friday, May 8th. Wolfe Research lowered shares of Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 1st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Caris Life Sciences from $35.00 to $30.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $26.33.

Hedge Funds Weigh In On Caris Life Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC grew 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 valued at $27,000 after buying an additional 999 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings 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 acquiring an additional 1,469 shares in the last quarter. Fifth Third Bancorp bought a new stake in Caris Life Sciences in the first quarter valued at about $31,000. Sterling Capital Management LLC raised its position in shares of Caris Life Sciences by 128.3% during the 1st quarter. Sterling Capital Management LLC now owns 1,927 shares of the company’s stock valued at $34,000 after acquiring an additional 1,083 shares in the last quarter. Finally, Trifecta Capital Advisors LLC acquired a new stake in shares of Caris Life Sciences during the second quarter worth $37,000.

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.