Caris Life Sciences, Inc. $CAI Shares Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC boosted its holdings in Caris Life Sciences, Inc. (NASDAQ:CAI) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,416,207 shares of the company’s stock after acquiring an additional 34,977 shares during the quarter. Clearbridge Investments LLC’s holdings in Caris Life Sciences were worth $38,209,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CAI. Diversified Trust Co. acquired a new stake in Caris Life Sciences in the 4th quarter valued at approximately $540,000. Olistico Wealth LLC acquired a new position in shares of Caris Life Sciences during the 4th quarter valued at $31,000. Zevenbergen Capital Investments LLC acquired a new position in shares of Caris Life Sciences during the 4th quarter valued at $14,655,000. Hamilton Lane Advisors LLC acquired a new position in shares of Caris Life Sciences during the 4th quarter valued at $1,584,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Caris Life Sciences by 26.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 75,330 shares of the company’s stock valued at $2,032,000 after purchasing an additional 15,778 shares during the period.

Analyst Ratings Changes

CAI has been the topic of several research analyst reports. New Street Research initiated coverage on Caris Life Sciences in a research report on Friday, May 8th. They set a “market perform” rating on the stock. Piper Sandler initiated coverage on Caris Life Sciences in a research report on Friday, April 10th. They set a “neutral” rating and a $21.00 price target on the stock. Jefferies Financial Group initiated coverage on Caris Life Sciences in a research report on Monday, April 13th. They set a “buy” rating and a $28.00 price target on the stock. Wolfe Research cut Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 1st. Finally, Wall Street Zen cut Caris Life Sciences from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $27.56.

Insider Transactions at Caris Life Sciences

In other news, Director Jeff L. Vacirca acquired 31,050 shares of Caris Life Sciences stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $16.15 per share, with a total value of $501,457.50. Following the completion of the transaction, the director owned 49,671 shares in the company, valued at approximately $802,186.65. This trade represents a 166.75% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 50.00% of the company’s stock.

Caris Life Sciences Stock Up 5.1%

Shares of Caris Life Sciences stock opened at $16.96 on Wednesday. The firm has a market capitalization of $4.79 billion and a PE ratio of -2.23. The stock has a fifty day simple moving average of $17.80. The company has a current ratio of 7.05, a quick ratio of 6.52 and a debt-to-equity ratio of 0.64. Caris Life Sciences, Inc. has a 12 month low of $14.19 and a 12 month high of $42.50.

Caris Life Sciences announced that its board has initiated a share repurchase plan on Monday, June 8th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 2.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

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.