Menlo Advisors LLC Invests $5.36 Million in Caris Life Sciences, Inc. $CAI

Menlo Advisors LLC acquired a new stake in shares of Caris Life Sciences, Inc. (NASDAQ:CAI) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 300,518 shares of the company’s stock, valued at approximately $5,355,000. Caris Life Sciences makes up about 2.4% of Menlo Advisors LLC’s investment portfolio, making the stock its 17th largest position.

Several other institutional investors also recently bought and sold shares of CAI. Renaissance Technologies LLC lifted its holdings in Caris Life Sciences by 36.4% during the first quarter. Renaissance Technologies LLC now owns 449,900 shares of the company’s stock worth $8,044,000 after buying an additional 120,000 shares during the period. Maxi Investments CY Ltd purchased a new position in shares of Caris Life Sciences in the 2nd quarter valued at $3,754,000. Sei Investments Co. raised its position in shares of Caris Life Sciences by 2,348.6% in the 1st quarter. Sei Investments Co. now owns 598,712 shares of the company’s stock worth $10,705,000 after acquiring an additional 574,261 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Caris Life Sciences by 26.0% in the 1st quarter. Lazard Asset Management LLC now owns 305,911 shares of the company’s stock worth $5,470,000 after acquiring an additional 63,132 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Caris Life Sciences by 50.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 153,512 shares of the company’s stock worth $2,745,000 after purchasing an additional 51,696 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CAI shares. Wall Street Zen raised Caris Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. 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. Evercore reaffirmed an “outperform” rating and issued a $26.00 price objective on shares of Caris Life Sciences in a research report on Thursday, August 6th. BTIG Research boosted their price objective on shares of Caris Life Sciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, UBS Group assumed coverage on shares of Caris Life Sciences in a research report on Wednesday. They set a “neutral” rating and a $28.00 target price for the company. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.50.

Caris Life Sciences Stock Up 0.0%

Shares of CAI stock opened at $24.04 on Friday. Caris Life Sciences, Inc. has a 1-year low of $14.19 and a 1-year high of $35.20. The stock’s fifty day moving average price is $20.47 and its 200 day moving average price is $18.95. 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 company has a market cap of $6.79 billion, a price-to-earnings ratio of 66.78 and a beta of 1.10.

Caris Life Sciences declared that its board has initiated a stock buyback plan on Monday, June 8th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

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

About Caris Life Sciences

Caris Life Sciences is a precision medicine and biotechnology company headquartered in Irving, Texas. Founded in 2008, the company combines molecular profiling, artificial intelligence and clinical data to support more informed decisions in cancer diagnosis and treatment.

Caris provides comprehensive tumor profiling and other laboratory testing services designed to identify genetic, molecular and immune characteristics of a patient’s cancer. Its offerings are intended to help physicians match patients with targeted therapies, immunotherapies and clinical trials, while also supporting cancer research and drug development.

The company serves healthcare providers, biopharmaceutical companies and academic or research institutions.