Caris Life Sciences (NASDAQ:CAI) Shares Gap Down Following Analyst Downgrade

Key Points

• Shares gapped down after BTIG cut its price target from $38 to $32, with the stock opening at $16.80 versus a prior close of $19.84 and trading down roughly 18.5% on heavy volume.
• Analyst sentiment is mixed — four Buys, two Holds and one Sell yield a consensus "Hold" rating and a $28 average target price.
• Company fundamentals showed strength in the latest quarter, reporting $0.28 EPS versus a $0.01 estimate and revenue of $292.9M, up 125% year-over-year.

Caris Life Sciences, Inc. (NASDAQ:CAI - Get Free Report) shares gapped down prior to trading on Friday after BTIG Research lowered their price target on the stock from $38.00 to $32.00. The stock had previously closed at $19.84, but opened at $16.80. BTIG Research currently has a buy rating on the stock. Caris Life Sciences shares last traded at $16.2740, with a volume of 1,548,584 shares traded.

CAI has been the subject of a number of other reports. Wall Street Zen cut Caris Life Sciences from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. The Goldman Sachs Group assumed coverage on Caris Life Sciences in a report on Wednesday, April 1st. They issued a "buy" rating and a $27.00 target price for the company. Piper Sandler assumed coverage on Caris Life Sciences in a report on Friday, April 10th. They issued a "neutral" rating and a $21.00 target price for the company. Canaccord Genuity Group dropped their target price on Caris Life Sciences from $30.00 to $22.00 and set a "hold" rating for the company in a report on Friday, March 13th. Finally, Robert W. Baird increased their target price on Caris Life Sciences from $26.00 to $28.00 and gave the stock an "outperform" rating in a report on Friday, February 27th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $28.00.

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Institutional Investors Weigh In On Caris Life Sciences

Large investors have recently bought and sold shares of the business. Global Retirement Partners LLC grew its position in 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 acquiring an additional 999 shares during the last quarter. Olistico Wealth LLC bought a new stake in Caris Life Sciences during the 4th quarter worth approximately $31,000. MetLife Investment Management LLC grew its position in Caris Life Sciences by 84.0% during the 4th quarter. MetLife Investment Management LLC now owns 1,654 shares of the company's stock worth $45,000 after acquiring an additional 755 shares during the last quarter. Fifth Third Bancorp acquired a new position in Caris Life Sciences during the 1st quarter worth $31,000. Finally, Sterling Capital Management LLC lifted its holdings in Caris Life Sciences by 128.3% during the 1st quarter. Sterling Capital Management LLC now owns 1,927 shares of the company's stock worth $34,000 after buying an additional 1,083 shares in the last quarter.

Caris Life Sciences Trading Down 18.5%

The stock has a fifty day simple moving average of $19.15. The company has a current ratio of 7.85, a quick ratio of 7.35 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $4.57 billion and a PE ratio of -89.42.

Caris Life Sciences (NASDAQ:CAI - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.27. The firm had revenue of $292.89 million for the quarter, compared to analyst estimates of $281.00 million. During the same period in the prior year, the company posted ($1.73) EPS. The firm's quarterly revenue was up 125.4% compared to the same quarter last year. On average, equities analysts predict that Caris Life Sciences, Inc. will post 0.12 earnings per share for the current fiscal year.

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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