Caris Life Sciences (NASDAQ:CAI) Stock Rating Upgraded by Wall Street Zen

Caris Life Sciences (NASDAQ:CAI) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other research firms also recently issued reports on CAI. Robert W. Baird lifted their price objective on Caris Life Sciences from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Canaccord Genuity Group raised their price target on shares of Caris Life Sciences from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, December 22nd. BTIG Research dropped their price target on shares of Caris Life Sciences from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Caris Life Sciences in a report on Monday, December 29th. Finally, Evercore set a $38.00 price objective on shares of Caris Life Sciences in a research note on Monday, January 5th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.50.

Caris Life Sciences Price Performance

NASDAQ:CAI opened at $18.59 on Friday. The firm has a 50-day moving average price of $23.55. The company has a current ratio of 7.85, a quick ratio of 7.35 and a debt-to-equity ratio of 0.66. The stock has a market cap of $5.25 billion and a PE ratio of -103.28. Caris Life Sciences has a 1-year low of $17.15 and a 1-year high of $42.50.

Caris Life Sciences (NASDAQ:CAI) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.01 by $0.27. The business had revenue of $292.89 million during the quarter, compared to analyst estimates of $281.00 million. The company’s revenue was up 125.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.73) EPS.

Insider Buying and Selling

In other Caris Life Sciences news, insider Luke Thomas Power sold 62,250 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $26.58, for a total transaction of $1,654,605.00. Following the transaction, the insider owned 99,571 shares of the company’s stock, valued at $2,646,597.18. This trade represents a 38.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Institutional Investors Weigh In On Caris Life Sciences

Institutional investors have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. lifted its stake in Caris Life Sciences by 14.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,205,959 shares of the company’s stock worth $248,377,000 after purchasing an additional 1,180,200 shares during the last quarter. Braidwell LP increased its stake in Caris Life Sciences by 6.8% during the fourth quarter. Braidwell LP now owns 7,816,142 shares of the company’s stock valued at $210,880,000 after purchasing an additional 500,000 shares during the last quarter. PointState Capital LP raised its holdings in shares of Caris Life Sciences by 73.0% during the fourth quarter. PointState Capital LP now owns 6,718,707 shares of the company’s stock worth $181,271,000 after purchasing an additional 2,834,986 shares during the period. Orbimed Advisors LLC raised its holdings in shares of Caris Life Sciences by 2.7% during the fourth quarter. Orbimed Advisors LLC now owns 3,116,011 shares of the company’s stock worth $84,070,000 after purchasing an additional 81,153 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Caris Life Sciences by 185.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,445,281 shares of the company’s stock worth $65,974,000 after buying an additional 1,587,176 shares during the last quarter.

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.