85,600 Shares in Caris Life Sciences, Inc. $CAI Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Caris Life Sciences, Inc. (NASDAQ:CAI) in the 2nd quarter, Holdings Channel reports. The firm bought 85,600 shares of the company’s stock, valued at approximately $1,525,000.

A number of other hedge funds have also recently modified their holdings of CAI. Global Retirement Partners LLC raised its holdings 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 buying an additional 999 shares during the period. PNC Financial Services Group Inc. grew its position in 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 acquiring an additional 1,469 shares during the last quarter. Fifth Third Bancorp bought a new position in Caris Life Sciences in the 1st quarter valued at $31,000. Sterling Capital Management LLC increased its stake in Caris Life Sciences by 128.3% in 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 bought a new stake in shares of Caris Life Sciences during the second quarter worth $37,000.

Caris Life Sciences Price Performance

Shares of CAI stock opened at $26.27 on Friday. Caris Life Sciences, Inc. has a twelve month low of $14.19 and a twelve month high of $42.50. The company has a current ratio of 5.53, a quick ratio of 4.88 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $18.43 and a two-hundred day simple moving average of $18.57. The stock has a market capitalization of $7.42 billion, a price-to-earnings ratio of 72.97 and a beta of 0.68.

Caris Life Sciences declared that its Board of Directors has initiated a stock buyback program on Monday, June 8th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Evercore reissued an “outperform” rating and set a $26.00 target price on shares of Caris Life Sciences in a research note on Thursday, August 6th. JPMorgan Chase & Co. decreased their price objective on shares of Caris Life Sciences from $35.00 to $30.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Caris Life Sciences in a research report on Friday, August 7th. New Street Research initiated coverage on shares of Caris Life Sciences in a research note on Friday, May 8th. They issued a “market perform” rating on the stock. Finally, Wall Street Zen raised shares of Caris Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.33.

About Caris Life Sciences

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.