Brokerages Set Caris Life Sciences, Inc. (NASDAQ:CAI) Target Price at $26.11

Shares of Caris Life Sciences, Inc. (NASDAQ:CAI) have earned an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $26.3333.

Several research firms have issued reports on CAI. BTIG Research raised their price target on shares of Caris Life Sciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Citigroup cut their price objective on shares of Caris Life Sciences from $35.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Robert W. Baird set a $22.00 price objective on shares of Caris Life Sciences in a research note on Friday, May 8th. New Street Research assumed coverage on shares of Caris Life Sciences in a research note on Friday, May 8th. They issued a “market perform” rating for the company. Finally, Evercore reiterated an “outperform” rating and issued a $26.00 price target on shares of Caris Life Sciences in a report on Thursday.

Caris Life Sciences Trading Up 2.9%

Caris Life Sciences stock opened at $23.40 on Tuesday. The stock has a 50-day moving average price of $17.36 and a 200 day moving average price of $18.68. Caris Life Sciences has a 52 week low of $14.19 and a 52 week high of $42.50. The stock has a market cap of $6.61 billion, a PE ratio of 65.00 and a beta of 0.68. The company has a current ratio of 5.53, a quick ratio of 4.88 and a debt-to-equity ratio of 0.66.

Caris Life Sciences announced that its board has initiated a stock repurchase program on Monday, June 8th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to buy up to 2.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Caris Life Sciences

In other Caris Life Sciences news, Director Jon Halbert bought 68,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average cost of $14.56 per share, for a total transaction of $990,080.00. Following the completion of the purchase, the director owned 704,598 shares of the company’s stock, valued at $10,258,946.88. This trade represents a 10.68% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 50.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CAI. Global Retirement Partners LLC boosted its position in shares of Caris Life Sciences by 99,900.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,000 shares of the company’s stock worth $27,000 after acquiring an additional 999 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Caris Life Sciences by 839.4% during the first 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 during the first quarter worth approximately $31,000. Sterling Capital Management LLC raised its stake in Caris Life Sciences by 128.3% during the first quarter. Sterling Capital Management LLC now owns 1,927 shares of the company’s stock worth $34,000 after purchasing an additional 1,083 shares during the period. Finally, Trifecta Capital Advisors LLC acquired a new position in shares of Caris Life Sciences in the 2nd quarter valued at $37,000.

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.