Key Points
- Insider sale: John Russel Denton sold 7,500 Caris Life Sciences shares for $238,650 at an average price of $31.82, reducing his direct holdings by 4.11% to 174,855 shares.
- Stock and buyback: CAI opened at $31.65, near its 12-month high of $33.65, while the company has authorized a $100 million share repurchase program covering up to 2.1% of outstanding shares.
- Analyst outlook: Analysts maintain a consensus “Hold” rating with an average price target of $26.50; seven rate the stock a Buy, five a Hold, and one a Sell.
Caris Life Sciences, Inc. (NASDAQ:CAI - Get Free Report) insider John Russel Denton sold 7,500 shares of the business's stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $31.82, for a total value of $238,650.00. Following the completion of the transaction, the insider directly owned 174,855 shares in the company, valued at approximately $5,563,886.10. This represents a 4.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Caris Life Sciences Stock Performance
Shares of NASDAQ:CAI opened at $31.65 on Thursday. Caris Life Sciences, Inc. has a twelve month low of $14.19 and a twelve month high of $33.65. The business has a fifty day moving average of $22.56 and a 200-day moving average of $19.57. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.88 and a current ratio of 5.53. The firm has a market cap of $8.94 billion, a PE ratio of 87.92 and a beta of 1.10.
Caris Life Sciences declared that its Board of Directors has initiated a share buyback program on Monday, June 8th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its shares are undervalued.
Hedge Funds Weigh In On Caris Life Sciences
Hedge funds have recently made changes to their positions in the business. Braidwell LP grew its position in Caris Life Sciences by 3.1% in the second quarter. Braidwell LP now owns 8,256,032 shares of the company's stock valued at $147,122,000 after purchasing an additional 246,585 shares in the last quarter. PointState Capital LP acquired a new stake in shares of Caris Life Sciences in the second quarter valued at approximately $121,690,000. BlackRock Inc. acquired a new position in shares of Caris Life Sciences during the 2nd quarter worth approximately $98,666,000. Clearbridge Investments LLC lifted its holdings in Caris Life Sciences by 2.5% during the 4th quarter. Clearbridge Investments LLC now owns 1,416,207 shares of the company's stock valued at $38,209,000 after purchasing an additional 34,977 shares during the last quarter. Finally, Perceptive Advisors LLC lifted its stake in shares of Caris Life Sciences by 3.5% during the 4th quarter. Perceptive Advisors LLC now owns 1,136,206 shares of the company's stock worth $30,655,000 after buying an additional 38,043 shares during the last quarter.
Analyst Ratings Changes
A number of research analysts have issued reports on the stock. BTIG Research upped their target price on shares of Caris Life Sciences from $32.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Wall Street Zen raised Caris Life Sciences from a "sell" rating to a "hold" rating in a research note on Sunday, August 16th. Weiss Ratings upgraded Caris Life Sciences from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, September 16th. UBS Group began coverage on shares of Caris Life Sciences in a research report on Wednesday, September 9th. They issued a "neutral" rating and a $28.00 price target on the stock. Finally, Wolfe Research lowered shares of Caris Life Sciences from an "outperform" rating to a "peer perform" rating in a report on Monday, June 1st. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $26.50.
Get Our Latest Report on CAI
Caris Life Sciences Company Profile
(
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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