Caris Life Sciences, Inc. (NASDAQ:CAI) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Caris Life Sciences has a “Moderate Buy” consensus rating from 12 analysts: seven rate it a buy, four recommend holding, and one rates it a sell. The average 12-month price target is $26.33, with recent targets ranging from $22 to $33.
• CAI shares opened at $25.63, while the stock’s 50-day and 200-day moving averages were $19.27 and $18.72, respectively. The company also authorized a $100 million share repurchase program, covering up to 2.1% of outstanding shares.
• Institutional ownership has increased, with investors including T. Rowe Price, Braidwell, PointState Capital, BlackRock and California State Teachers Retirement System adding to or initiating positions in the stock.

Caris Life Sciences, Inc. (NASDAQ:CAI - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twelve research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $26.3333.

A number of equities analysts have issued reports on CAI shares. BTIG Research lifted their price objective on shares of Caris Life Sciences from $32.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Wall Street Zen upgraded shares of Caris Life Sciences from a "sell" rating to a "hold" rating in a report on Sunday, August 16th. New Street Research started coverage on shares of Caris Life Sciences in a research report on Friday, May 8th. They set a "market perform" rating on the stock. Citigroup cut their price target on shares of Caris Life Sciences from $35.00 to $28.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Finally, Robert W. Baird set a $22.00 price objective on shares of Caris Life Sciences in a research report on Friday, May 8th.

Caris Life Sciences Trading Down 2.8%

Shares of Caris Life Sciences stock opened at $25.63 on Friday. The company has a market capitalization of $7.24 billion, a P/E ratio of 71.19 and a beta of 0.68. The stock has a fifty day simple moving average of $19.27 and a 200 day simple moving average of $18.72. Caris Life Sciences has a 12-month low of $14.19 and a 12-month high of $39.18. The company has a current ratio of 5.53, a quick ratio of 4.88 and a debt-to-equity ratio of 0.66.

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.

Institutional Trading of Caris Life Sciences

A number of institutional investors and hedge funds have recently modified their holdings of CAI. T. Rowe Price Investment Management Inc. lifted its holdings in Caris Life Sciences by 14.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,205,959 shares of the company's stock worth $248,377,000 after acquiring an additional 1,180,200 shares during the period. Braidwell LP grew its stake in Caris Life Sciences by 3.1% in the 2nd quarter. Braidwell LP now owns 8,256,032 shares of the company's stock valued at $147,122,000 after purchasing an additional 246,585 shares during the period. PointState Capital LP bought a new position in Caris Life Sciences in the 2nd quarter valued at $121,690,000. BlackRock Inc. purchased a new stake in shares of Caris Life Sciences during the 2nd quarter valued at $98,666,000. Finally, California State Teachers Retirement System raised its stake in shares of Caris Life Sciences by 64,861.8% during the 2nd quarter. California State Teachers Retirement System now owns 3,249,388 shares of the company's stock worth $57,904,000 after purchasing an additional 3,244,386 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.

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