NorthCrest Asset Manangement LLC Makes New $529,000 Investment in Caris Life Sciences, Inc. $CAI

NorthCrest Asset Manangement LLC purchased a new stake in Caris Life Sciences, Inc. (NASDAQ:CAI) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 17,266 shares of the company’s stock, valued at approximately $529,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Braidwell LP raised its position in 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 during the period. PointState Capital LP acquired a new stake in Caris Life Sciences during the second quarter worth approximately $121,690,000. BlackRock Inc. purchased a new stake in shares of Caris Life Sciences in the 2nd quarter valued at about $98,666,000. Canada Pension Plan Investment Board acquired a new stake in Caris Life Sciences during the 2nd quarter worth $24,502,000. Finally, Amundi increased its holdings in shares of Caris Life Sciences by 5,709.5% in the second quarter. Amundi now owns 1,218,364 shares of the company’s stock valued at $21,711,000 after purchasing an additional 1,197,392 shares during the period.

Caris Life Sciences Stock Down 3.8%

Shares of CAI stock traded down $1.20 during trading hours on Friday, reaching $30.56. The company had a trading volume of 2,730,080 shares, compared to its average volume of 4,909,658. The company has a market capitalization of $8.64 billion, a P/E ratio of 84.89 and a beta of 0.86. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.88 and a current ratio of 5.53. Caris Life Sciences, Inc. has a twelve month low of $14.19 and a twelve month high of $33.13. The stock’s fifty day simple moving average is $27.12 and its 200 day simple moving average is $20.92.

Analysts Set New Price Targets

CAI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on shares of Caris Life Sciences from $25.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday. Weiss Ratings cut Caris Life Sciences from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, October 2nd. UBS Group assumed coverage on Caris Life Sciences in a research report on Wednesday, September 9th. They issued a “neutral” rating and a $28.00 target price on the stock. TD Cowen lifted their price target on shares of Caris Life Sciences from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Evercore reiterated an “outperform” rating and set a $26.00 price objective on shares of Caris Life Sciences in a research note on Thursday, August 6th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $27.82.

Insiders Place Their Bets

In other news, insider John Russel Denton sold 7,500 shares of the company’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $31.82, for a total value of $238,650.00. Following the completion of the transaction, the insider directly owned 174,855 shares in the company, valued at approximately $5,563,886.10. This represents a 4.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President David Spetzler sold 478,000 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $24.86, for a total transaction 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. The trade was a 31.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,004,712 shares of company stock worth $27,205,419 in the last 90 days. 50.00% of the stock is owned by company insiders.

Caris Life Sciences Company Profile

Caris Life Sciences is a biotechnology company focused on precision oncology and the use of molecular and artificial intelligence technologies to support cancer diagnosis and treatment decisions. The company analyzes tumor and blood samples to identify genetic, molecular and other biological characteristics that may help physicians select targeted therapies and develop individualized treatment plans.

Its offerings include comprehensive tumor profiling, molecular testing and data-driven clinical support for oncologists and other healthcare providers.