Caris Life Sciences, Inc. (NASDAQ:CAI) Stock Has Average Target Price of $27.82 According to Brokerages

Key Points

• Analysts maintain a moderately bullish view of Caris Life Sciences, with eight buy, five hold and one sell rating among 14 analysts. The average 12-month price target is $27.82, though recent targets from TD Cowen and JPMorgan rose to $36 and $35, respectively.
• Insiders have sold more than 1 million shares worth approximately $27.2 million over the past 90 days, including significant sales by Brian J. Brille and John Russel Denton. Insiders still own 50% of the company.
• CAI opened at $30.56 after a reported 3.8% decline, with a market capitalization of $8.64 billion and a share price near its $33.13 one-year high. Institutional investors have also built or initiated sizable positions, including Braidwell, PointState Capital and BlackRock.

Shares of Caris Life Sciences, Inc. (NASDAQ:CAI - Get Free Report) have received an average recommendation of "Moderate Buy" from the fourteen analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $27.82.

CAI has been the topic of a number of recent research reports. TD Cowen lifted their target price on Caris Life Sciences from $30.00 to $36.00 and gave the company a "buy" rating in a research report on Tuesday. Evercore reissued an "outperform" rating and set a $26.00 price target on shares of Caris Life Sciences in a research report on Thursday, August 6th. Weiss Ratings downgraded Caris Life Sciences from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, October 2nd. JPMorgan Chase & Co. raised their price target on Caris Life Sciences from $25.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, BTIG Research boosted their price target on Caris Life Sciences from $32.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th.

Insider Activity

In related news, insider John Russel Denton sold 7,500 shares of the business's stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $31.82, for a total transaction of $238,650.00. Following the transaction, the insider directly owned 174,855 shares in the company, valued at approximately $5,563,886.10. The trade was a 4.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian J. Brille sold 400,000 shares of the company's stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $30.33, for a total transaction of $12,132,000.00. Following the sale, the insider directly owned 230,303 shares in the company, valued at $6,985,089.99. This trade represents a 63.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,004,712 shares of company stock valued at $27,205,419. 50.00% of the stock is owned by insiders.

Institutional Trading of Caris Life Sciences

Large investors have recently added to or reduced their stakes in the company. Braidwell LP increased its stake 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 worth $147,122,000 after purchasing an additional 246,585 shares during the last quarter. PointState Capital LP bought a new stake in shares of Caris Life Sciences in the 2nd quarter valued at about $121,690,000. BlackRock Inc. bought a new stake in shares of Caris Life Sciences in the 2nd quarter valued at about $98,666,000. Canada Pension Plan Investment Board bought a new stake in shares of Caris Life Sciences in the 2nd quarter valued at about $24,502,000. Finally, Amundi lifted its stake in Caris Life Sciences by 5,709.5% in the 2nd quarter. Amundi now owns 1,218,364 shares of the company's stock valued at $21,711,000 after purchasing an additional 1,197,392 shares during the last quarter.

Caris Life Sciences Trading Down 3.8%

Caris Life Sciences stock opened at $30.56 on Friday. The company has a market cap of $8.64 billion, a price-to-earnings ratio of 84.89 and a beta of 0.86. The firm has a 50-day moving average of $27.12 and a 200-day moving average of $20.92. The company has a debt-to-equity ratio of 0.66, a current ratio of 5.53 and a quick ratio of 4.88. Caris Life Sciences has a one year low of $14.19 and a one year high of $33.13.

About Caris Life Sciences

Caris Life Sciences is a biotechnology company focused on precision oncology and the use of molecular and artificial intelligence technologies to support cancer diagnosis and treatment decisions. The company analyzes tumor and blood samples to identify genetic, molecular and other biological characteristics that may help physicians select targeted therapies and develop individualized treatment plans.

Its offerings include comprehensive tumor profiling, molecular testing and data-driven clinical support for oncologists and other healthcare providers.

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.