Caris Life Sciences, Inc. (NASDAQ:CAI) Receives $27.56 Average Price Target from Analysts

Caris Life Sciences, Inc. (NASDAQ:CAI) has been assigned a consensus rating of “Hold” from the eleven research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $27.5556.

A number of research firms have recently weighed in on CAI. BTIG Research lowered their price target on shares of Caris Life Sciences from $38.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Robert W. Baird set a $22.00 price target on shares of Caris Life Sciences in a report on Friday, May 8th. Wall Street Zen cut shares of Caris Life Sciences from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Jefferies Financial Group began coverage on shares of Caris Life Sciences in a report on Monday, April 13th. They issued a “buy” rating and a $28.00 price target on the stock. Finally, New Street Research began coverage on shares of Caris Life Sciences in a report on Friday, May 8th. They issued a “market perform” rating on the stock.

Caris Life Sciences Price Performance

Shares of Caris Life Sciences stock opened at $18.47 on Monday. 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 has a 1 year low of $14.19 and a 1 year high of $42.50. The business’s 50-day simple moving average is $17.69. The company has a market cap of $5.22 billion and a PE ratio of -2.43.

Caris Life Sciences announced that its board has authorized a share repurchase plan on Monday, June 8th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Caris Life Sciences

In other news, Director Jeff L. Vacirca purchased 31,050 shares of the stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $16.15 per share, for a total transaction of $501,457.50. Following the acquisition, the director owned 49,671 shares of the company’s stock, valued at approximately $802,186.65. This represents a 166.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 50.00% of the company’s stock.

Institutional Trading of Caris Life Sciences

Institutional investors have recently modified their holdings of the company. MetLife Investment Management LLC raised its position in shares of Caris Life Sciences by 84.0% in the 4th quarter. MetLife Investment Management LLC now owns 1,654 shares of the company’s stock valued at $45,000 after purchasing an additional 755 shares during the last quarter. Global Retirement Partners LLC raised its position in shares of Caris Life Sciences by 99,900.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 999 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of 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 purchasing an additional 1,083 shares during the last quarter. Olistico Wealth LLC purchased a new position in shares of Caris Life Sciences in the 4th quarter valued at approximately $31,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Caris Life Sciences by 839.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,644 shares of the company’s stock valued at $29,000 after purchasing an additional 1,469 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.