Canada Pension Plan Investment Board Purchases Shares of 1,374,952 Caris Life Sciences, Inc. $CAI

Key Points

• Canada Pension Plan Investment Board acquired 1,374,952 shares of Caris Life Sciences during the second quarter, valued at approximately $24.5 million and representing a 0.49% stake.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $26.33, although some firms recently lowered targets or downgraded the stock.
• Caris authorized a $100 million share repurchase program, allowing it to buy back up to 2.1% of outstanding shares; CAI recently traded at $25.63, with a 12-month range of $14.19 to $39.18.

Canada Pension Plan Investment Board purchased a new position in Caris Life Sciences, Inc. (NASDAQ:CAI - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,374,952 shares of the company's stock, valued at approximately $24,502,000. Canada Pension Plan Investment Board owned 0.49% of Caris Life Sciences as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. MetLife Investment Management LLC boosted its stake in Caris Life Sciences by 84.0% during the fourth quarter. MetLife Investment Management LLC now owns 1,654 shares of the company's stock valued at $45,000 after buying an additional 755 shares during the period. Global Retirement Partners LLC increased its stake in Caris Life Sciences by 99,900.0% in 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. Sterling Capital Management LLC raised its holdings in shares of Caris Life Sciences by 128.3% in the 1st quarter. Sterling Capital Management LLC now owns 1,927 shares of the company's stock valued at $34,000 after acquiring an additional 1,083 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of 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 valued at $29,000 after acquiring an additional 1,469 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its position in shares of Caris Life Sciences by 15.0% during 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 during the last quarter.

Analyst Ratings Changes

Several research analysts have recently commented on CAI shares. Robert W. Baird set a $22.00 price objective on shares of Caris Life Sciences in a research report on Friday, May 8th. BTIG Research lifted their target price on shares of Caris Life Sciences from $32.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Wolfe Research cut shares of Caris Life Sciences from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 1st. JPMorgan Chase & Co. decreased their price target on shares of Caris Life Sciences from $35.00 to $30.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. Finally, Evercore reaffirmed an "outperform" rating and set a $26.00 price objective on shares of Caris Life Sciences in a report on Thursday, August 6th. Seven equities research 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 MarketBeat, Caris Life Sciences currently has an average rating of "Moderate Buy" and a consensus price target of $26.33.

Caris Life Sciences Price Performance

Shares of Caris Life Sciences stock opened at $25.63 on Friday. The firm has a market capitalization of $7.24 billion, a PE ratio of 71.19 and a beta of 0.68. The company has a current ratio of 5.53, a quick ratio of 4.88 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 $39.18. The business's 50-day moving average price is $19.27 and its 200-day moving average price is $18.72.

Caris Life Sciences announced that its Board of Directors has authorized a share buyback program on Monday, June 8th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

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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