Key Points
- Caris Life Sciences President David Baxley Spetzler sold 119,212 shares at an average price of $24.76, generating approximately $2.95 million. The sale was intended to cover tax withholding tied to vested equity awards and reduced his direct stake by 9.16%; he also sold 478,000 shares the previous day.
- CAI shares opened at $25.07, with a market capitalization of about $7.08 billion, and the company has authorized a $100 million share repurchase program covering up to 2.1% of outstanding shares.
- Analysts maintain a generally positive outlook, with seven Buy ratings, four Holds and one Sell, producing a consensus “Moderate Buy” rating and an average price target of $26.33.
Caris Life Sciences, Inc. (NASDAQ:CAI - Get Free Report) President David Baxley 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 transaction of $2,951,689.12. Following the transaction, the president directly owned 1,182,871 shares of the company's stock, valued at $29,287,885.96. This trade represents a 9.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
David Baxley Spetzler also recently made the following trade(s):
- On Thursday, September 3rd, David Baxley Spetzler sold 478,000 shares of Caris Life Sciences stock. The shares were sold at an average price of $24.86, for a total transaction of $11,883,080.00.
Caris Life Sciences Stock Down 1.0%
Shares of NASDAQ CAI opened at $25.07 on Friday. The stock has a market capitalization of $7.08 billion, a PE ratio of 69.64 and a beta of 1.10. The company has a quick ratio of 4.88, a current ratio of 5.53 and a debt-to-equity ratio of 0.66. The firm has a fifty day moving average of $19.98 and a 200-day moving average of $18.85. Caris Life Sciences, Inc. has a 52-week low of $14.19 and a 52-week high of $36.65.
Caris Life Sciences declared that its Board of Directors has authorized a share buyback plan on Monday, June 8th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Several brokerages have commented on CAI. BTIG Research upped their price target on Caris Life Sciences from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. New Street Research assumed coverage on Caris Life Sciences in a report on Friday, May 8th. They set a "market perform" rating for the company. Weiss Ratings raised shares of Caris Life Sciences from a "sell (d-)" rating to a "sell (d)" rating in a research report on Friday, August 21st. Evercore restated an "outperform" rating and issued a $26.00 price target on shares of Caris Life Sciences in a report on Thursday, August 6th. Finally, 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 research note on Friday, May 8th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $26.33.
Read Our Latest Analysis on Caris Life Sciences
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LP acquired a new position in shares of Caris Life Sciences during the second quarter worth about $316,000. Amundi boosted its position in shares of Caris Life Sciences by 5,709.5% in the second 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. California State Teachers Retirement System grew its stake in shares of Caris Life Sciences by 64,861.8% in the second quarter. California State Teachers Retirement System now owns 3,249,388 shares of the company's stock valued at $57,904,000 after buying an additional 3,244,386 shares in the last quarter. Braidwell LP raised its holdings in shares of Caris Life Sciences by 3.1% during the 2nd quarter. Braidwell LP now owns 8,256,032 shares of the company's stock valued at $147,122,000 after buying an additional 246,585 shares during the period. Finally, Moore Capital Management LP purchased a new stake in shares of Caris Life Sciences during the 2nd quarter valued at about $1,139,000.
Caris Life Sciences Company Profile
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
