Caris Life Sciences (NASDAQ:CAI) Stock Price Up 7.6% – What’s Next?
by Tristan Rich · The Markets DailyCaris Life Sciences, Inc. (NASDAQ:CAI – Get Free Report) was up 7.6% during mid-day trading on Friday. The stock traded as high as $29.50 and last traded at $29.5790. Approximately 1,972,324 shares were traded during trading, a decline of 42% from the average daily volume of 3,403,067 shares. The stock had previously closed at $27.50.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on CAI shares. Wall Street Zen upgraded shares of Caris Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. BTIG Research upped their target price on shares of Caris Life Sciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. 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. UBS Group started coverage on Caris Life Sciences in a report on Wednesday, September 9th. They set a “neutral” rating and a $28.00 price objective for the company. Finally, Weiss Ratings cut Caris Life Sciences from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, October 2nd. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Caris Life Sciences currently has a consensus rating of “Hold” and a consensus target price of $26.50.
View Our Latest Analysis on Caris Life Sciences
Caris Life Sciences Trading Up 7.6%
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 business has a fifty day simple moving average of $25.63 and a 200 day simple moving average of $20.44. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 82.31 and a beta of 0.86.
Insider Activity at Caris Life Sciences
In other Caris Life Sciences news, insider John Russel Denton sold 7,500 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $31.82, for a total value of $238,650.00. Following 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President David Spetzler sold 478,000 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $24.86, for a total transaction of $11,883,080.00. Following the sale, the president directly owned 1,052,083 shares in the company, valued at $26,154,783.38. This represents a 31.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 1,004,712 shares of company stock valued at $27,205,419. 50.00% of the stock is owned by insiders.
Institutional Investors Weigh In On Caris Life Sciences
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. PointState Capital LP acquired a new position in Caris Life Sciences during the second quarter worth approximately $121,690,000. BlackRock Inc. purchased a new stake in shares of Caris Life Sciences during the 2nd quarter valued at $98,666,000. Canada Pension Plan Investment Board acquired a new stake in shares of Caris Life Sciences during the 2nd quarter worth $24,502,000. Bank of America Corp DE purchased a new position in shares of Caris Life Sciences in the 2nd quarter worth $21,395,000. Finally, Amundi raised its position in shares of Caris Life Sciences by 5,709.5% in the 2nd 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.
Caris Life Sciences Company Profile
Caris Life Sciences is a biotechnology company focused on precision oncology and the use of molecular and artificial intelligence technologies to support cancer diagnosis and treatment decisions. The company analyzes tumor and blood samples to identify genetic, molecular and other biological characteristics that may help physicians select targeted therapies and develop individualized treatment plans.
Its offerings include comprehensive tumor profiling, molecular testing and data-driven clinical support for oncologists and other healthcare providers.