125,000 Shares of Caris Life Sciences, Inc. $CAI Bought by E. Ohman J or Asset Management AB

Key Points

• E. Öhman Jor Asset Management AB acquired 125,000 Caris Life Sciences shares in the third quarter, worth approximately $3.83 million. Several other institutional investors also increased their positions.
• Caris insiders sold more than 1 million shares worth approximately $27.2 million over the past three months, including a $11.9 million sale by President David Spetzler to cover tax obligations tied to vested equity awards.
• Analyst sentiment remains generally positive, with an average “Moderate Buy” rating and a $28.55 price target, while CAI recently traded at $31.71, down 2.0%, near its 52-week high of $33.13.

E. Ohman J or Asset Management AB purchased a new position in Caris Life Sciences, Inc. (NASDAQ:CAI - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 125,000 shares of the company's stock, valued at approximately $3,829,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Caris Life Sciences by 133.0% in the third quarter. GAMMA Investing LLC now owns 1,263 shares of the company's stock worth $39,000 after buying an additional 721 shares in the last quarter. Sterling Capital Management LLC raised 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 valued at $34,000 after buying an additional 1,083 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Caris Life Sciences by 839.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,644 shares of the company's stock worth $29,000 after acquiring an additional 1,469 shares during the last quarter. Strs Ohio increased its position in shares of Caris Life Sciences by 301.3% in the first quarter. Strs Ohio now owns 2,179 shares of the company's stock valued at $39,000 after acquiring an additional 1,636 shares during the period. Finally, Fifth Third Bancorp purchased a new stake in Caris Life Sciences in the 1st quarter worth approximately $31,000.

Insider Activity at Caris Life Sciences

In other news, insider John Russel Denton sold 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $31.82, for a total value of $238,650.00. Following the completion of the transaction, the insider owned 174,855 shares of the company's stock, valued at approximately $5,563,886.10. This trade represents a 4.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President David Spetzler sold 478,000 shares of Caris Life Sciences stock in a transaction dated Thursday, September 3rd. The shares were 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 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 1,004,712 shares of company stock worth $27,205,419 in the last three months. 50.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. BTIG Research increased their price objective on Caris Life Sciences from $32.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Canaccord Genuity Group raised their target price on shares of Caris Life Sciences from $22.00 to $30.00 and gave the company a "hold" rating in a research note on Monday. Evercore restated an "outperform" rating and set a $26.00 target price on shares of Caris Life Sciences in a research report on Thursday, August 6th. UBS Group assumed coverage on Caris Life Sciences in a research note on Wednesday, September 9th. They set a "neutral" rating and a $28.00 price target for the company. Finally, Weiss Ratings lowered Caris Life Sciences from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, October 2nd. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $28.55.

Caris Life Sciences Stock Down 2.0%

CAI stock opened at $31.71 on Friday. The stock has a market capitalization of $8.96 billion, a P/E ratio of 88.08 and a beta of 0.86. Caris Life Sciences, Inc. has a 52 week low of $14.19 and a 52 week high of $33.13. The firm has a 50-day simple moving average of $27.82 and a 200-day simple moving average of $21.31. The company has a quick ratio of 4.88, a current ratio of 5.53 and a debt-to-equity ratio of 0.66.

Caris Life Sciences Company Profile

Caris Life Sciences is a biotechnology and precision-medicine company that uses molecular profiling and artificial intelligence to support cancer diagnosis, treatment selection and drug development. The company analyzes tumor and blood samples to identify genomic, molecular and immune characteristics that may help physicians better understand a patient's disease and select targeted therapies.

Its offerings include comprehensive tumor profiling, liquid-biopsy testing and data-driven clinical decision-support tools.

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