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

Key Points

• Caris Life Sciences has a consensus analyst rating of "Hold" from 11 brokerages, with an average 12-month price target of about $26.11.
• Director Jeff L. Vacirca bought 31,050 shares at $16.15 each, boosting his stake by 166.75%, while insiders now own 50% of the company.
• The board authorized a $100 million share repurchase program, which could allow the company to buy back up to 2.1% of its outstanding shares.

Shares of Caris Life Sciences, Inc. (NASDAQ:CAI - Get Free Report) have been given a consensus rating of "Hold" by the eleven analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $26.1111.

A number of brokerages have commented on CAI. Robert W. Baird set a $22.00 price objective on Caris Life Sciences in a report on Friday, May 8th. New Street Research initiated coverage on Caris Life Sciences in a report on Friday, May 8th. They set a "market perform" rating for the company. Jefferies Financial Group started coverage on Caris Life Sciences in a research note on Monday, April 13th. They set a "buy" rating and a $28.00 price objective on the stock. Wall Street Zen downgraded shares of Caris Life Sciences from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Finally, Piper Sandler began coverage on shares of Caris Life Sciences in a report on Friday, April 10th. They set a "neutral" rating and a $21.00 price target on the stock.

Insider Activity

In other Caris Life Sciences news, Director Jeff L. Vacirca purchased 31,050 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average cost of $16.15 per share, with a total value of $501,457.50. Following the completion of the transaction, the director owned 49,671 shares of the company's stock, valued at $802,186.65. The trade was a 166.75% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 50.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Caris Life Sciences

Several large investors have recently made changes to their positions in CAI. Amundi purchased a new position in shares of Caris Life Sciences in the 1st quarter worth about $375,000. California State Teachers Retirement System increased its holdings in Caris Life Sciences by 254.5% during the first quarter. California State Teachers Retirement System now owns 5,002 shares of the company's stock worth $89,000 after buying an additional 3,591 shares during the last quarter. Royal Bank of Canada raised its position in Caris Life Sciences by 101.8% in the first quarter. Royal Bank of Canada now owns 18,651 shares of the company's stock worth $333,000 after acquiring an additional 9,407 shares during the period. The Manufacturers Life Insurance Company raised its position in Caris Life Sciences by 50.8% in the first quarter. The Manufacturers Life Insurance Company now owns 153,512 shares of the company's stock worth $2,745,000 after acquiring an additional 51,696 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in Caris Life Sciences by 117.0% in the first quarter. Quantinno Capital Management LP now owns 140,909 shares of the company's stock valued at $2,519,000 after acquiring an additional 75,987 shares during the last quarter.

Caris Life Sciences Trading Up 3.2%

NASDAQ:CAI opened at $17.87 on Friday. 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 has a one year low of $14.19 and a one year high of $42.50. The company has a market cap of $5.05 billion and a PE ratio of -2.35. The firm has a 50-day moving average of $17.14 and a 200-day moving average of $20.30.

Caris Life Sciences declared that its Board of Directors has authorized a share repurchase program on Monday, June 8th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

About Caris Life Sciences

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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