Caris Life Sciences, Inc. $CAI Shares Sold by Zevenbergen Capital Investments LLC

Key Points

• Zevenbergen Capital Investments reduced its Caris Life Sciences stake by 10.3% in the third quarter, selling 82,486 shares and retaining 719,597 shares valued at approximately $22.0 million.
• Caris insiders sold more than 1 million shares worth about $27.2 million over the past 90 days, while insiders continue to own roughly 50% of the company.
• Analysts hold a mixed but generally favorable view, with a consensus rating of “Hold” and a $26.50 target price; CAI recently traded at $27.50, up 1.5%.

Zevenbergen Capital Investments LLC lessened its holdings in Caris Life Sciences, Inc. (NASDAQ:CAI - Free Report) by 10.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 719,597 shares of the company's stock after selling 82,486 shares during the period. Zevenbergen Capital Investments LLC owned about 0.25% of Caris Life Sciences worth $22,041,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its position in Caris Life Sciences by 839.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,644 shares of the company's stock valued at $29,000 after purchasing an additional 1,469 shares during the period. Fifth Third Bancorp purchased a new stake in shares of Caris Life Sciences in the first quarter worth about $31,000. Sterling Capital Management LLC grew its stake in shares of Caris Life Sciences by 128.3% in the first 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 in the last quarter. MCF Advisors LLC purchased a new stake in shares of Caris Life Sciences during the 2nd quarter valued at about $36,000. Finally, Trifecta Capital Advisors LLC purchased a new stake in shares of Caris Life Sciences during the 2nd quarter valued at about $37,000.

Insider Activity at Caris Life Sciences

In other Caris Life Sciences news, President David Spetzler sold 119,212 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $24.76, for a total transaction of $2,951,689.12. Following the transaction, the president directly owned 1,182,871 shares in the company, valued at $29,287,885.96. This represents a 9.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Brian Brille sold 400,000 shares of the business's stock in a transaction dated 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 completion of the sale, the insider directly owned 230,303 shares of the company's stock, valued at $6,985,089.99. The trade was a 63.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,004,712 shares of company stock valued at $27,205,419 over the last ninety days. Corporate insiders own 50.00% of the company's stock.

Analysts Set New Price Targets

CAI has been the subject of a number of analyst reports. BTIG Research upped their price target on Caris Life Sciences from $32.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. UBS Group began coverage on shares of Caris Life Sciences in a research note on Wednesday, September 9th. They set a "neutral" rating and a $28.00 price objective on the stock. Weiss Ratings cut shares of Caris Life Sciences from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, October 2nd. Evercore restated an "outperform" rating and issued a $26.00 target price on shares of Caris Life Sciences in a research note on Thursday, August 6th. Finally, Wall Street Zen raised shares of Caris Life Sciences from a "sell" rating to a "hold" rating in a report on Sunday, August 16th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $26.50.

Caris Life Sciences Stock Up 1.5%

CAI stock traded up $0.40 during midday trading on Thursday, hitting $27.50. 3,861,691 shares of the company's stock were exchanged, compared to its average volume of 3,411,930. The firm has a 50 day moving average price of $25.63 and a 200-day moving average price of $20.44. Caris Life Sciences, Inc. has a 12-month low of $14.19 and a 12-month high of $33.65. The stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of 76.39 and a beta of 0.86. 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 Profile

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.

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