Amundi Buys 1,197,392 Shares of Caris Life Sciences, Inc. $CAI

Key Points

• Amundi increased its Caris Life Sciences stake by 5,709.5% in the second quarter, purchasing 1,197,392 additional shares and ending the period with a 0.43% ownership stake valued at approximately $21.7 million.
• Analyst sentiment is mixed: seven analysts rate CAI a Buy, five rate it Hold and one rates it Sell. The consensus rating is Hold, with an average price target of $26.50.
• Caris authorized a $100 million share-repurchase program, while company president David Spetzler sold 478,000 shares for about $11.9 million to cover tax-withholding obligations related to vested equity awards.

Amundi increased its position in Caris Life Sciences, Inc. (NASDAQ:CAI - Free Report) by 5,709.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,218,364 shares of the company's stock after buying an additional 1,197,392 shares during the period. Amundi owned 0.43% of Caris Life Sciences worth $21,711,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC boosted its holdings 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 acquiring an additional 999 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of 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 period. MetLife Investment Management LLC boosted its holdings in Caris Life Sciences by 84.0% in the 4th quarter. MetLife Investment Management LLC now owns 1,654 shares of the company's stock worth $45,000 after buying an additional 755 shares during the period. Fifth Third Bancorp bought a new stake in Caris Life Sciences during the first quarter valued at $31,000. Finally, Sterling Capital Management LLC grew its position in Caris Life Sciences by 128.3% in the first quarter. Sterling Capital Management LLC now owns 1,927 shares of the company's stock worth $34,000 after acquiring an additional 1,083 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CAI. BTIG Research lifted their price target on shares of Caris Life Sciences from $32.00 to $33.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Wolfe Research lowered shares of Caris Life Sciences from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 1st. Weiss Ratings raised shares of Caris Life Sciences from a "sell (d-)" rating to a "sell (d)" rating in a report on Friday, August 21st. 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. Finally, Wall Street Zen raised shares of Caris Life Sciences from a "sell" rating to a "hold" rating in a research report on Sunday, August 16th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $26.50.

Insider Activity at Caris Life Sciences

In other news, President David Spetzler sold 478,000 shares of the business's stock in a transaction that occurred on 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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 50.00% of the company's stock.

Caris Life Sciences Stock Up 1.2%

CAI stock opened at $24.34 on Friday. The company has a current ratio of 5.53, a quick ratio of 4.88 and a debt-to-equity ratio of 0.66. The firm has a 50 day simple moving average of $20.59 and a 200-day simple moving average of $18.98. The company has a market capitalization of $6.88 billion, a P/E ratio of 67.61 and a beta of 1.10. Caris Life Sciences, Inc. has a twelve month low of $14.19 and a twelve month high of $34.75.

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

Caris Life Sciences Profile

Caris Life Sciences is a precision medicine and biotechnology company headquartered in Irving, Texas. Founded in 2008, the company combines molecular profiling, artificial intelligence and clinical data to support more informed decisions in cancer diagnosis and treatment.

Caris provides comprehensive tumor profiling and other laboratory testing services designed to identify genetic, molecular and immune characteristics of a patient's cancer. Its offerings are intended to help physicians match patients with targeted therapies, immunotherapies and clinical trials, while also supporting cancer research and drug development.

The company serves healthcare providers, biopharmaceutical companies and academic or research institutions.

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