Caris Life Sciences (NASDAQ:CAI) Stock Price Target Raised at JPMorgan Chase & Co.

Caris Life Sciences (NASDAQ:CAI) had its price objective increased by research analysts at JPMorgan Chase & Co. from $25.00 to $35.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 15.66% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. Wall Street Zen upgraded shares of Caris Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. TD Cowen upped their price target on shares of Caris Life Sciences from $30.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday. UBS Group began coverage on Caris Life Sciences in a research report on Wednesday, September 9th. They set a “neutral” rating and a $28.00 price target on the stock. 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. Finally, Weiss Ratings lowered Caris Life Sciences from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, October 2nd. Eight 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’s stock. Based on data from MarketBeat, Caris Life Sciences presently has an average rating of “Moderate Buy” and an average price target of $27.82.

Caris Life Sciences Stock Performance

Shares of NASDAQ:CAI traded up $0.73 during midday trading on Wednesday, reaching $30.26. The company’s stock had a trading volume of 4,344,300 shares, compared to its average volume of 3,428,396. The firm has a market capitalization of $8.55 billion, a PE ratio of 84.06 and a beta of 0.86. Caris Life Sciences has a twelve month low of $14.19 and a twelve month high of $33.65. The stock has a fifty day moving average of $26.45 and a 200 day moving average of $20.67. The company has a quick ratio of 4.88, a current ratio of 5.53 and a debt-to-equity ratio of 0.66.

Insider Buying and Selling

In other Caris Life Sciences news, insider Brian J. Brille sold 400,000 shares of the stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $30.33, for a total transaction of $12,132,000.00. Following the transaction, the insider owned 230,303 shares in the company, valued at approximately $6,985,089.99. This represents a 63.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President David Spetzler sold 478,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $24.86, for a total value of $11,883,080.00. Following the completion of the sale, the president directly owned 1,052,083 shares in the company, 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. In the last 90 days, insiders sold 1,004,712 shares of company stock valued at $27,205,419. 50.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CAI. GAMMA Investing LLC increased its stake in shares of Caris Life Sciences by 133.0% during the third quarter. GAMMA Investing LLC now owns 1,263 shares of the company’s stock worth $39,000 after purchasing an additional 721 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Caris Life Sciences by 839.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,644 shares of the company’s stock worth $29,000 after purchasing an additional 1,469 shares during the last quarter. Fifth Third Bancorp purchased a new position in Caris Life Sciences in the 1st quarter valued at about $31,000. Sterling Capital Management LLC lifted its stake in Caris Life Sciences by 128.3% in the 1st quarter. Sterling Capital Management LLC now owns 1,927 shares of the company’s stock valued at $34,000 after buying an additional 1,083 shares in the last quarter. Finally, MCF Advisors LLC purchased a new position in Caris Life Sciences in the 2nd quarter valued at about $36,000.

About Caris Life Sciences

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.