Legal & General Group Plc Takes Position in Caris Life Sciences, Inc. $CAI

Legal & General Group Plc acquired a new position in Caris Life Sciences, Inc. (NASDAQ:CAI) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 32,070 shares of the company’s stock, valued at approximately $571,000.

A number of other hedge funds have also bought and sold shares of CAI. Global Retirement Partners LLC raised its holdings in Caris Life Sciences by 99,900.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,000 shares of the company’s stock valued at $27,000 after acquiring an additional 999 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Caris Life Sciences by 839.4% in the first 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 during the period. Fifth Third Bancorp purchased a new position in shares of Caris Life Sciences in the first quarter valued at $31,000. Sterling Capital Management LLC grew 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 valued at $34,000 after purchasing an additional 1,083 shares in the last quarter. Finally, Trifecta Capital Advisors LLC bought a new stake in shares of Caris Life Sciences during the 2nd quarter valued at $37,000.

Insider Buying and Selling at Caris Life Sciences

In other news, President David Baxley Spetzler sold 119,212 shares of Caris Life Sciences stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $24.76, for a total transaction of $2,951,689.12. Following the completion of the sale, the president owned 1,182,871 shares in the company, valued at approximately $29,287,885.96. This trade represents a 9.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 50.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on CAI shares. BTIG Research raised their target price on Caris Life Sciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen upgraded Caris Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. Weiss Ratings raised shares of Caris Life Sciences from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 21st. Evercore reaffirmed an “outperform” rating and set a $26.00 price objective on shares of Caris Life Sciences in a research note on Thursday, August 6th. Finally, Wolfe Research lowered shares of Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a report on Monday, June 1st. Seven investment 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 data from MarketBeat, Caris Life Sciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.33.

Caris Life Sciences Price Performance

NASDAQ:CAI opened at $24.82 on Wednesday. Caris Life Sciences, Inc. has a 52-week low of $14.19 and a 52-week high of $35.20. The stock has a fifty day moving average of $20.25 and a 200 day moving average of $18.89. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.88 and a current ratio of 5.53. The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of 68.94 and a beta of 1.10.

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

Caris Life Sciences 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.