Deutsche Bank AG Purchases New Position in Caris Life Sciences, Inc. $CAI

Key Points

• Deutsche Bank initiated a position in Caris Life Sciences during the second quarter, purchasing 43,653 shares valued at approximately $778,000. Several other institutional investors also increased their holdings.
• Analysts maintain a generally positive view of CAI, with seven Buy, four Hold and one Sell rating, resulting in a consensus “Moderate Buy” rating and an average price target of $26.33.
• Caris Life Sciences authorized a $100 million stock repurchase program, covering up to 2.1% of outstanding shares. The stock recently traded at $25.49, while its 52-week range is $14.19 to $39.18.

Deutsche Bank AG purchased a new position in Caris Life Sciences, Inc. (NASDAQ:CAI - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 43,653 shares of the company's stock, valued at approximately $778,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. MetLife Investment Management LLC boosted its stake in shares of Caris Life Sciences by 84.0% during the 4th quarter. MetLife Investment Management LLC now owns 1,654 shares of the company's stock worth $45,000 after acquiring an additional 755 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Caris Life Sciences by 99,900.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,000 shares of the company's stock worth $27,000 after buying an additional 999 shares during the period. Sterling Capital Management LLC lifted its position in shares of 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 in 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 valued at $29,000 after acquiring an additional 1,469 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey grew its stake 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 period.

Analyst Ratings Changes

Several brokerages have weighed in on CAI. Evercore reaffirmed an "outperform" rating and set a $26.00 price target on shares of Caris Life Sciences in a report on Thursday, August 6th. BTIG Research raised 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 note on Thursday, August 6th. Robert W. Baird set a $22.00 price objective on Caris Life Sciences in a report on Friday, May 8th. New Street Research initiated coverage on shares of Caris Life Sciences in a report on Friday, May 8th. They issued a "market perform" rating for the company. Finally, Wolfe Research cut shares of Caris Life Sciences from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 1st. Seven 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.33.

Caris Life Sciences Trading Down 0.5%

Shares of NASDAQ CAI opened at $25.49 on Tuesday. 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 twelve month low of $14.19 and a twelve month high of $39.18. The business has a fifty day simple moving average of $19.44 and a two-hundred day simple moving average of $18.72. The firm has a market cap of $7.20 billion, a PE ratio of 70.81 and a beta of 0.68.

Caris Life Sciences declared that its board has initiated a stock repurchase plan on Monday, June 8th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Caris Life Sciences Profile

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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