47,595 Shares in Caris Life Sciences, Inc. $CAI Acquired by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company acquired 47,595 shares of Caris Life Sciences in the second quarter, valued at approximately $848,000. Several other institutional investors also increased their positions.
• Analysts maintain a generally positive outlook, with seven Buy, four Hold and one Sell rating. The consensus rating is Moderate Buy, with an average price target of $26.33.
• Caris authorized a $100 million share buyback, while President David Baxley Spetzler sold 478,000 shares for roughly $11.9 million to cover tax obligations tied to vested equity awards.

The Manufacturers Life Insurance Company acquired a new stake in Caris Life Sciences, Inc. (NASDAQ:CAI - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 47,595 shares of the company's stock, valued at approximately $848,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of CAI. MetLife Investment Management LLC grew its holdings in shares of Caris Life Sciences by 84.0% during the fourth quarter. MetLife Investment Management LLC now owns 1,654 shares of the company's stock worth $45,000 after purchasing an additional 755 shares during the last quarter. Global Retirement Partners LLC lifted 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 buying an additional 999 shares in the last quarter. Sterling Capital Management LLC lifted its position 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. PNC Financial Services Group Inc. grew its holdings in Caris Life Sciences by 839.4% during 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. Finally, Police & Firemen s Retirement System of New Jersey increased its position in Caris Life Sciences by 15.0% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 11,932 shares of the company's stock valued at $322,000 after acquiring an additional 1,560 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CAI shares. Wolfe Research downgraded shares of Caris Life Sciences from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 1st. Evercore reissued an "outperform" rating and set a $26.00 price target on shares of Caris Life Sciences in a research note on Thursday, August 6th. BTIG Research boosted their price objective on shares of Caris Life Sciences from $32.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Wall Street Zen raised Caris Life Sciences from a "sell" rating to a "hold" rating in a report on Sunday, August 16th. Finally, Weiss Ratings upgraded Caris Life Sciences from a "sell (d-)" rating to a "sell (d)" rating in a research report on Friday, August 21st. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $26.33.

Caris Life Sciences Stock Down 1.0%

Shares of Caris Life Sciences stock opened at $25.07 on Friday. 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, Inc. has a 12 month low of $14.19 and a 12 month high of $36.65. The business has a fifty day simple moving average of $19.98 and a 200 day simple moving average of $18.85. The stock has a market cap of $7.08 billion, a PE ratio of 69.64 and a beta of 1.10.

Caris Life Sciences declared that its Board of Directors has initiated a share buyback plan on Monday, June 8th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Transactions at Caris Life Sciences

In other news, President David Baxley Spetzler sold 478,000 shares of the business's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $24.86, for a total transaction of $11,883,080.00. Following the completion of the transaction, the president directly owned 1,052,083 shares in the company, valued at approximately $26,154,783.38. The trade was a 31.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 50.00% of the company's stock.

About Caris Life Sciences

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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