Caris Life Sciences (NASDAQ:CAI) Hits New 1-Year High – Time to Buy?

Shares of Caris Life Sciences, Inc. (NASDAQ:CAI) reached a new 52-week high during trading on Tuesday. The company traded as high as $33.20 and last traded at $33.1890, with a volume of 752,234 shares traded. The stock had previously closed at $32.46.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Evercore reiterated an “outperform” rating and issued a $26.00 price objective on shares of Caris Life Sciences in a research note on Thursday, August 6th. UBS Group began coverage on shares of Caris Life Sciences in a research report on Wednesday, September 9th. They issued a “neutral” rating and a $28.00 price target on the stock. Weiss Ratings downgraded shares of Caris Life Sciences from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, October 2nd. BTIG Research increased their price target on Caris Life Sciences from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Wall Street Zen upgraded Caris Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Caris Life Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

Caris Life Sciences Stock Performance

The company has a market cap of $9.49 billion, a PE ratio of 92.97 and a beta of 0.86. The business has a fifty day moving average of $27.95 and a 200-day moving average of $21.49. The company has a current ratio of 5.53, a quick ratio of 4.88 and a debt-to-equity ratio of 0.66.

Insider Buying and Selling

In other news, insider John Russel Denton sold 7,500 shares of Caris Life Sciences stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $31.82, for a total transaction of $238,650.00. Following the completion of the sale, the insider directly owned 174,855 shares in the company, valued at approximately $5,563,886.10. The trade was a 4.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President David Spetzler sold 119,212 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $29,287,885.96. This represents a 9.16% decrease in their position. 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 over the last three months. 50.00% of the stock is owned by insiders.

Institutional Trading of Caris Life Sciences

Several institutional investors and hedge funds have recently modified their holdings of CAI. PointState Capital LP acquired a new stake in shares of Caris Life Sciences in the 2nd quarter valued at about $121,690,000. BlackRock Inc. bought a new position in Caris Life Sciences in the second quarter valued at about $98,666,000. Canada Pension Plan Investment Board bought a new position in Caris Life Sciences in the second quarter valued at $24,502,000. Bank of America Corp DE acquired a new position in shares of Caris Life Sciences in the 2nd quarter valued at approximately $21,395,000. Finally, Amundi grew its position in shares of Caris Life Sciences by 5,709.5% during the 2nd quarter. Amundi now owns 1,218,364 shares of the company’s stock worth $21,711,000 after buying an additional 1,197,392 shares during the period.

About Caris Life Sciences

Caris Life Sciences is a biotechnology and precision-medicine company that uses molecular profiling and artificial intelligence to support cancer diagnosis, treatment selection and drug development. The company analyzes tumor and blood samples to identify genomic, molecular and immune characteristics that may help physicians better understand a patient’s disease and select targeted therapies.

Its offerings include comprehensive tumor profiling, liquid-biopsy testing and data-driven clinical decision-support tools.