Caris Life Sciences (NASDAQ:CAI) Stock: Insider John Russel Denton Sells 7,500 Shares

Caris Life Sciences, Inc. (NASDAQ:CAI) insider John Russel Denton sold 7,500 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $31.82, for a total value of $238,650.00. Following the completion of the transaction, the insider owned 174,855 shares of the company’s stock, valued at $5,563,886.10. The trade was a 4.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Caris Life Sciences Price Performance

NASDAQ:CAI opened at $32.27 on Friday. Caris Life Sciences, Inc. has a 52 week low of $14.19 and a 52 week high of $33.65. The stock’s fifty day moving average is $22.88 and its two-hundred day moving average is $19.67. The company has a market capitalization of $9.12 billion, a P/E ratio of 89.64 and a beta of 1.10. The company has a quick ratio of 4.88, a current ratio of 5.53 and a debt-to-equity ratio of 0.66.

Caris Life Sciences declared that its board has authorized a share repurchase program on Monday, June 8th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have commented on CAI. UBS Group initiated coverage on shares of 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. BTIG Research lifted their price target on shares of Caris Life Sciences from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Evercore reissued an “outperform” rating and issued a $26.00 price target on shares of Caris Life Sciences in a research note on Thursday, August 6th. Wolfe Research cut shares of Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 1st. Finally, Weiss Ratings upgraded shares of Caris Life Sciences from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, September 16th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $26.50.

Hedge Funds Weigh In On Caris Life Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. Braidwell LP increased its stake in Caris Life Sciences by 3.1% during the second quarter. Braidwell LP now owns 8,256,032 shares of the company’s stock worth $147,122,000 after purchasing an additional 246,585 shares during the period. PointState Capital LP purchased a new position in shares of Caris Life Sciences in the second quarter valued at approximately $121,690,000. BlackRock Inc. acquired a new position in shares of Caris Life Sciences in the second quarter valued at approximately $98,666,000. Clearbridge Investments LLC increased its stake in Caris Life Sciences by 2.5% during the 4th quarter. Clearbridge Investments LLC now owns 1,416,207 shares of the company’s stock worth $38,209,000 after buying an additional 34,977 shares during the period. Finally, Perceptive Advisors LLC increased its stake in Caris Life Sciences by 3.5% during the 4th quarter. Perceptive Advisors LLC now owns 1,136,206 shares of the company’s stock worth $30,655,000 after buying an additional 38,043 shares during the period.

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.