Caris Life Sciences, Inc. (NASDAQ:CAI) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analyst consensus is “Hold” for Caris Life Sciences, based on 11 covering firms: six buys, four holds and one sell. The average 12-month price target is approximately $26.11.
• Shares opened at $16.32, near the lower end of their 12-month range of $14.19 to $42.50, while the company has a market capitalization of about $4.61 billion.
• Caris authorized a $100 million share buyback, representing up to 2.1% of outstanding shares, and insiders collectively own 50% of the company; two directors recently increased their holdings through stock purchases.

Shares of Caris Life Sciences, Inc. (NASDAQ:CAI - Get Free Report) have earned an average rating of "Hold" from the eleven research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $26.1111.

Several equities analysts recently issued reports on CAI shares. Evercore set a $25.00 price objective on shares of Caris Life Sciences in a research note on Monday, July 6th. Citigroup lowered their target price on shares of Caris Life Sciences from $35.00 to $28.00 and set a "buy" rating for the company in a research note on Friday, May 8th. New Street Research started coverage on Caris Life Sciences in a report on Friday, May 8th. They issued a "market perform" rating for the company. BTIG Research reissued a "buy" rating and set a $32.00 price target on shares of Caris Life Sciences in a research note on Thursday, July 2nd. Finally, Piper Sandler initiated coverage on Caris Life Sciences in a report on Friday, April 10th. They set a "neutral" rating and a $21.00 price objective on the stock.

Insider Transactions at Caris Life Sciences

In related news, Director Jon Halbert bought 68,000 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average cost of $14.56 per share, with a total value of $990,080.00. Following the completion of the transaction, the director owned 704,598 shares of the company's stock, valued at approximately $10,258,946.88. The trade was a 10.68% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeff L. Vacirca bought 31,050 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $16.15 per share, with a total value of $501,457.50. Following the completion of the acquisition, the director owned 49,671 shares of the company's stock, valued at $802,186.65. This trade represents a 166.75% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 50.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Caris Life Sciences

A number of hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC increased its holdings in shares of Caris Life Sciences by 99,900.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,000 shares of the company's stock worth $27,000 after buying an additional 999 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Caris Life Sciences by 839.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,644 shares of the company's stock valued at $29,000 after acquiring an additional 1,469 shares during the period. Fifth Third Bancorp purchased a new stake in Caris Life Sciences during the first quarter valued at about $31,000. Sterling Capital Management LLC increased its stake in Caris Life Sciences by 128.3% during the first quarter. Sterling Capital Management LLC now owns 1,927 shares of the company's stock worth $34,000 after acquiring an additional 1,083 shares during the last quarter. Finally, Trifecta Capital Advisors LLC purchased a new position in shares of Caris Life Sciences in the 2nd quarter worth about $37,000.

Caris Life Sciences Price Performance

Caris Life Sciences stock opened at $16.32 on Tuesday. Caris Life Sciences has a 12-month low of $14.19 and a 12-month high of $42.50. The stock has a market capitalization of $4.61 billion, a P/E ratio of -2.14 and a beta of 0.68. The firm's 50-day moving average is $17.00 and its two-hundred day moving average is $18.92. The company has a debt-to-equity ratio of 0.64, a current ratio of 7.05 and a quick ratio of 6.52.

Caris Life Sciences declared that its board has authorized a stock buyback program on Monday, June 8th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Caris Life Sciences Company Profile

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.

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