Caris Life Sciences, Inc. (NASDAQ:CAI) Stock Has Average Price Target of $31.18

Key Points

• Analyst sentiment is moderately positive: 14 firms rate Caris Life Sciences a “Moderate Buy” overall, with eight buys, five holds and one sell. The average 12-month price target is $31.18.
• Recent results beat estimates: Caris reported quarterly EPS of $0.05 versus the $0.03 consensus estimate, while revenue rose 27% year over year to $275.36 million.
• Insiders sold about 1 million shares worth roughly $27.2 million over the past 90 days; company insiders retain 50% ownership.

Caris Life Sciences, Inc. (NASDAQ:CAI - Get Free Report) has received a consensus rating of "Moderate Buy" from the fourteen research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $31.18.

CAI has been the subject of several analyst reports. Wall Street Zen upgraded shares of Caris Life Sciences from a "sell" rating to a "hold" rating in a research note on Sunday, August 16th. BTIG Research restated a "buy" rating and set a $38.00 price target on shares of Caris Life Sciences in a research report on Thursday, November 5th. Canaccord Genuity Group lifted their price objective on shares of Caris Life Sciences from $22.00 to $30.00 and gave the company a "hold" rating in a report on Monday, October 19th. Evercore reiterated an "outperform" rating and issued a $26.00 price objective on shares of Caris Life Sciences in a research report on Thursday, August 6th. Finally, TD Cowen increased their target price on shares of Caris Life Sciences from $36.00 to $38.00 and gave the stock a "buy" rating in a research note on Thursday, November 5th.

Caris Life Sciences Trading Up 0.2%

Shares of NASDAQ:CAI opened at $24.49 on Thursday. Caris Life Sciences has a 12-month low of $14.19 and a 12-month high of $36.50. The company has a market capitalization of $7.02 billion, a PE ratio of 74.21, a PEG ratio of 7.77 and a beta of 0.71. The business has a 50 day moving average of $29.45 and a two-hundred day moving average of $21.73. The company has a current ratio of 6.71, a quick ratio of 5.84 and a debt-to-equity ratio of 0.61.

Caris Life Sciences (NASDAQ:CAI - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. The business had revenue of $275.36 million for the quarter. Caris Life Sciences had a return on equity of 16.00% and a net margin of 9.16%. The company's revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 EPS. As a group, analysts forecast that Caris Life Sciences will post 0.11 EPS for the current year.

Insider Activity at Caris Life Sciences

In related news, insider Brian Brille sold 400,000 shares of the company's stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $30.33, for a total value of $12,132,000.00. Following the completion of the transaction, the insider owned 230,303 shares of the company's stock, valued at approximately $6,985,089.99. This represents a 63.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President David Spetzler sold 478,000 shares of the company's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $24.86, for a total value of $11,883,080.00. Following the completion of the transaction, the president directly owned 1,052,083 shares of the company's stock, valued at $26,154,783.38. The trade was a 31.24% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,004,712 shares of company stock worth $27,205,419 in the last 90 days. Corporate insiders own 50.00% of the company's stock.

Institutional Trading of Caris Life Sciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Braidwell LP lifted its position in shares of Caris Life Sciences by 3.1% during the 2nd quarter. Braidwell LP now owns 8,256,032 shares of the company's stock valued at $147,122,000 after buying an additional 246,585 shares in the last quarter. PointState Capital LP acquired a new stake in Caris Life Sciences in the 2nd quarter valued at $121,690,000. BlackRock Inc. purchased a new stake in Caris Life Sciences in the 2nd quarter worth $98,666,000. Canada Pension Plan Investment Board purchased a new stake in Caris Life Sciences in the 2nd quarter worth $24,502,000. Finally, Amundi increased its holdings in Caris Life Sciences by 5,709.5% in the 2nd quarter. Amundi now owns 1,218,364 shares of the company's stock worth $21,711,000 after acquiring an additional 1,197,392 shares in the last quarter.

About Caris Life Sciences

Caris Life Sciences is a precision medicine company that develops molecular profiling and artificial intelligence technologies to support cancer diagnosis and treatment decisions. Its services analyze the biological characteristics of a patient's tumor to help physicians identify information that may guide care. The company's offerings include tumor profiling based on DNA and RNA analysis, as well as blood-based testing. Caris also provides molecular data and research services to biopharmaceutical companies to support drug development and the study of cancer.

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.