Key Points
- Caris Life Sciences insider Brian Brille sold 400,000 shares at an average price of $30.33, generating $12.13 million. His remaining stake fell to 230,303 shares, a 63.46% reduction.
- CAI opened at $30.92, near its 52-week high of $34.54, while trading at a P/E ratio of 85.89. The company also authorized a $100 million share-repurchase plan, covering up to 2.1% of outstanding shares.
- Analyst sentiment is mixed: seven analysts rate the stock a Buy, five a Hold and one a Sell, producing an overall “Hold” rating and an average price target of $26.50—below the prevailing share price.
Caris Life Sciences, Inc. (NASDAQ:CAI - Get Free Report) insider Brian Brille sold 400,000 shares of Caris Life Sciences stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $30.33, for a total value of $12,132,000.00. Following the completion of the sale, the insider owned 230,303 shares in the company, valued at approximately $6,985,089.99. This represents a 63.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Caris Life Sciences Price Performance
Shares of Caris Life Sciences stock opened at $30.92 on Friday. The company has a quick ratio of 4.88, a current ratio of 5.53 and a debt-to-equity ratio of 0.66. Caris Life Sciences, Inc. has a 52 week low of $14.19 and a 52 week high of $34.54. The company has a market cap of $8.74 billion, a PE ratio of 85.89 and a beta of 1.10. The business has a 50 day moving average of $21.46 and a 200 day moving average of $19.26.
Caris Life Sciences announced that its Board of Directors has authorized a share repurchase plan on Monday, June 8th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its stock is undervalued.
Hedge Funds Weigh In On Caris Life Sciences
A number of hedge funds have recently added to or reduced their stakes in the company. Menlo Advisors LLC bought a new position in Caris Life Sciences in the 2nd quarter valued at approximately $5,355,000. MCF Advisors LLC bought a new stake in shares of Caris Life Sciences in the 2nd quarter worth $36,000. WINTON GROUP Ltd purchased a new position in shares of Caris Life Sciences in the second quarter worth $264,000. Squarepoint Ops LLC purchased a new position in shares of Caris Life Sciences in the second quarter worth $6,788,000. Finally, Corient Private Wealth LP bought a new position in shares of Caris Life Sciences during the second quarter valued at $316,000.
Analysts Set New Price Targets
Several brokerages have commented on CAI. UBS Group assumed coverage on Caris Life Sciences in a research report on Wednesday, September 9th. They set a "neutral" rating and a $28.00 price objective for the company. Wall Street Zen raised Caris Life Sciences from a "sell" rating to a "hold" rating in a research report on Sunday, August 16th. Wolfe Research downgraded Caris Life Sciences from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 1st. Evercore reiterated an "outperform" rating and set a $26.00 price objective on shares of Caris Life Sciences in a research note on Thursday, August 6th. Finally, BTIG Research boosted their target price on Caris Life Sciences from $32.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Caris Life Sciences has an average rating of "Hold" and an average target price of $26.50.
View Our Latest Report on CAI
About Caris Life Sciences
(
Get Free Report)
Caris Life Sciences is a precision medicine and biotechnology company headquartered in Irving, Texas. Founded in 2008, the company combines molecular profiling, artificial intelligence and clinical data to support more informed decisions in cancer diagnosis and treatment.
Caris provides comprehensive tumor profiling and other laboratory testing services designed to identify genetic, molecular and immune characteristics of a patient's cancer. Its offerings are intended to help physicians match patients with targeted therapies, immunotherapies and clinical trials, while also supporting cancer research and drug development.
The company serves healthcare providers, biopharmaceutical companies and academic or research institutions.
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