Caris Life Sciences (NASDAQ:CAI) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded Caris Life Sciences (NASDAQ:CAI) from a "buy" to a "hold" in a research note issued Saturday.
• Analyst consensus shows four Buy, two Hold and one Sell, giving the company an average rating of Hold and an average price target of $28.86.
• Caris beat estimates last quarter with $0.28 EPS (vs. $0.01 expected) and $292.9M revenue (+125% YoY), but the stock trades near $18.47 (52‑week range $16.28–$42.50) and carries a negative P/E, reflecting mixed fundamentals versus valuation.

Caris Life Sciences (NASDAQ:CAI - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group assumed coverage on shares of Caris Life Sciences in a research note on Wednesday, April 1st. They issued a "buy" rating and a $27.00 target price on the stock. Robert W. Baird raised their target price on shares of Caris Life Sciences from $26.00 to $28.00 and gave the company an "outperform" rating in a research note on Friday, February 27th. Piper Sandler assumed coverage on shares of Caris Life Sciences in a research note on Friday, April 10th. They issued a "neutral" rating and a $21.00 target price on the stock. Canaccord Genuity Group cut their target price on shares of Caris Life Sciences from $30.00 to $22.00 and set a "hold" rating on the stock in a research note on Friday, March 13th. Finally, BTIG Research cut their target price on shares of Caris Life Sciences from $45.00 to $38.00 and set a "buy" rating on the stock in a research note on Friday, February 27th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $28.86.

Caris Life Sciences Stock Down 2.8%

NASDAQ:CAI opened at $18.47 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 7.35 and a current ratio of 7.85. The stock has a market capitalization of $5.22 billion and a P/E ratio of -102.61. Caris Life Sciences has a fifty-two week low of $16.28 and a fifty-two week high of $42.50. The stock's 50 day moving average is $19.10.

Caris Life Sciences (NASDAQ:CAI - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.27. The business had revenue of $292.89 million during the quarter, compared to analysts' expectations of $281.00 million. During the same period in the prior year, the business posted ($1.73) EPS. The business's revenue was up 125.4% on a year-over-year basis. Research analysts forecast that Caris Life Sciences will post 0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Caris Life Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAI. PointState Capital LP increased its stake in Caris Life Sciences by 73.0% during the 4th quarter. PointState Capital LP now owns 6,718,707 shares of the company's stock worth $181,271,000 after buying an additional 2,834,986 shares during the period. UBS Group AG increased its stake in Caris Life Sciences by 825.9% during the 4th quarter. UBS Group AG now owns 2,183,980 shares of the company's stock worth $58,924,000 after buying an additional 1,948,107 shares during the period. Balyasny Asset Management L.P. increased its stake in Caris Life Sciences by 23,902.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,660,280 shares of the company's stock worth $44,794,000 after buying an additional 1,653,363 shares during the period. JPMorgan Chase & Co. increased its stake in Caris Life Sciences by 185.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,445,281 shares of the company's stock worth $65,974,000 after buying an additional 1,587,176 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its stake in Caris Life Sciences by 14.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,205,959 shares of the company's stock worth $248,377,000 after buying an additional 1,180,200 shares during the period.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.