Caris Life Sciences (NASDAQ:CAI) Hits New 1-Year Low - Here's Why

Key Points

• 52-week low: Caris Life Sciences fell to as low as $17.12 and was last trading around $16.95 (down ~9.7%) on heavy volume of 711,674 shares.
• Mixed analyst outlook: Brokerages are split (two Buys, one Hold, one Sell) with a MarketBeat consensus rating of "Hold" and a consensus price target of $31.50, well above the current share price.
• Quarterly beat: The company topped expectations, reporting $0.28 EPS versus $0.01 expected and $292.9M revenue versus $281M expected, with revenue up 125.4% year‑over‑year.

Caris Life Sciences, Inc. (NASDAQ:CAI - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $17.12 and last traded at $16.9480, with a volume of 711674 shares changing hands. The stock had previously closed at $18.33.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Evercore set a $38.00 target price on Caris Life Sciences in a report on Monday, January 5th. Robert W. Baird lifted their price objective on Caris Life Sciences from $26.00 to $28.00 and gave the stock an "outperform" rating in a research note on Friday, February 27th. Canaccord Genuity Group decreased their price objective on Caris Life Sciences from $30.00 to $22.00 and set a "hold" rating on the stock in a report on Friday, March 13th. BTIG Research lowered their price objective on shares of Caris Life Sciences from $45.00 to $38.00 and set a "buy" rating for the company in a research report on Friday, February 27th. Finally, Wall Street Zen upgraded Caris Life Sciences from a "hold" rating to a "buy" rating in a research report on Saturday, March 7th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Caris Life Sciences currently has an average rating of "Hold" and a consensus price target of $31.50.

Caris Life Sciences Stock Down 9.7%

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 firm has a market capitalization of $4.68 billion and a PE ratio of -91.80. The firm's 50 day moving average is $21.12.

Caris Life Sciences (NASDAQ:CAI - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported $0.28 earnings per share for the quarter, topping 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 quarter in the previous year, the business earned ($1.73) EPS. The business's revenue for the quarter was up 125.4% on a year-over-year basis.

Institutional Investors Weigh In On Caris Life Sciences

Hedge funds have recently made changes to their positions in the stock. Diversified Trust Co. purchased a new stake in shares of Caris Life Sciences during the fourth quarter valued at about $540,000. Olistico Wealth LLC acquired a new position in Caris Life Sciences in the 4th quarter worth approximately $31,000. Zevenbergen Capital Investments LLC acquired a new position in Caris Life Sciences during the fourth quarter valued at $14,655,000. Hamilton Lane Advisors LLC purchased a new stake in shares of Caris Life Sciences in the fourth quarter worth about $1,584,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Caris Life Sciences by 26.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 75,330 shares of the company's stock valued at $2,032,000 after purchasing an additional 15,778 shares in the last quarter.

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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