Caris Life Sciences (NASDAQ:CAI) Price Target Raised to $30.00

Key Points

• Canaccord Genuity raised Caris Life Sciences’ price target to $30 from $22 but maintained a “hold” rating, implying 1.83% downside from the prior close.
• Analyst sentiment remains broadly positive, with eight Buy, five Hold and one Sell rating; the stock has an average “Moderate Buy” rating and a consensus target of $28.55.
• Caris shares opened at $30.56, while insiders sold more than 1 million shares worth approximately $27.2 million over the past quarter, including a 400,000-share sale by Brian J. Brille.

Caris Life Sciences (NASDAQ:CAI - Get Free Report) had its price target raised by equities research analysts at Canaccord Genuity Group from $22.00 to $30.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a "hold" rating on the stock. Canaccord Genuity Group's price target indicates a potential downside of 1.83% from the stock's previous close.

Other analysts have also recently issued research reports about the company. Weiss Ratings cut Caris Life Sciences from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, October 2nd. JPMorgan Chase & Co. upped their price target on Caris Life Sciences from $25.00 to $35.00 and gave the company an "overweight" rating in a research report on Wednesday, October 14th. TD Cowen upped their price target on Caris Life Sciences from $30.00 to $36.00 and gave the company a "buy" rating in a research report on Tuesday, October 13th. Wall Street Zen raised Caris Life Sciences from a "sell" rating to a "hold" rating in a research note on Sunday, August 16th. Finally, UBS Group began 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. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $28.55.

Caris Life Sciences Price Performance

CAI stock opened at $30.56 on Monday. Caris Life Sciences has a one year low of $14.19 and a one year high of $33.13. The firm has a 50-day moving average of $27.12 and a two-hundred day moving average of $20.95. The firm has a market capitalization of $8.64 billion, a PE ratio of 84.89 and a beta of 0.86. The company has a current ratio of 5.53, a quick ratio of 4.88 and a debt-to-equity ratio of 0.66.

Insider Activity at Caris Life Sciences

In other news, insider Brian J. Brille sold 400,000 shares of the company's stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $30.33, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Russel Denton sold 7,500 shares of the 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,004,712 shares of company stock valued at $27,205,419. 50.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Caris Life Sciences

A number of institutional investors have recently made changes to their positions in the business. IFP Advisors Inc raised its position in shares of Caris Life Sciences by 143,800.0% during the 3rd quarter. IFP Advisors Inc now owns 4,317 shares of the company's stock valued at $132,000 after acquiring an additional 4,314 shares during the last quarter. Curated Wealth Partners LLC bought a new position in shares of Caris Life Sciences in the 3rd quarter worth $261,000. Krilogy Financial LLC bought a new position in shares of Caris Life Sciences in the 3rd quarter worth $746,000. NorthCrest Asset Manangement LLC acquired a new stake in shares of Caris Life Sciences during the third quarter worth $529,000. Finally, GAMMA Investing LLC grew its stake in shares of Caris Life Sciences by 133.0% during the third quarter. GAMMA Investing LLC now owns 1,263 shares of the company's stock worth $39,000 after purchasing an additional 721 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.

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