Lazard Asset Management LLC Raises Stock Holdings in Caris Life Sciences, Inc. $CAI

Key Points

• Lazard Asset Management increased its Caris Life Sciences stake by 26% in the first quarter, acquiring 63,132 additional shares for a total holding of 305,911 shares worth approximately $5.47 million.
• Institutional and insider interest remains notable: PointState Capital and JPMorgan significantly expanded their positions, while two Caris directors purchased shares. Insiders collectively own 50% of the company.
• Caris shares opened at $16.09, near the lower end of their 52-week range, while analysts hold a consensus “Hold” rating with a $26.11 price target. The company also authorized a $100 million share buyback, representing up to 2.1% of outstanding shares.

Lazard Asset Management LLC boosted its holdings in shares of Caris Life Sciences, Inc. (NASDAQ:CAI - Free Report) by 26.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 305,911 shares of the company's stock after purchasing an additional 63,132 shares during the quarter. Lazard Asset Management LLC owned approximately 0.11% of Caris Life Sciences worth $5,470,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CAI. T. Rowe Price Investment Management Inc. boosted its stake in shares of Caris Life Sciences by 14.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,205,959 shares of the company's stock valued at $248,377,000 after buying an additional 1,180,200 shares during the last quarter. Braidwell LP increased its stake in shares of Caris Life Sciences by 6.8% in the fourth quarter. Braidwell LP now owns 7,816,142 shares of the company's stock worth $210,880,000 after buying an additional 500,000 shares during the last quarter. PointState Capital LP raised its holdings in Caris Life Sciences by 73.0% in the fourth quarter. PointState Capital LP now owns 6,718,707 shares of the company's stock valued at $181,271,000 after acquiring an additional 2,834,986 shares in the last quarter. Orbimed Advisors LLC raised its holdings in Caris Life Sciences by 2.7% in the fourth quarter. Orbimed Advisors LLC now owns 3,116,011 shares of the company's stock valued at $84,070,000 after acquiring an additional 81,153 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Caris Life Sciences by 185.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,445,281 shares of the company's stock valued at $65,974,000 after acquiring an additional 1,587,176 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Weiss Ratings raised shares of Caris Life Sciences from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, May 11th. BTIG Research reaffirmed a "buy" rating and set a $32.00 price target on shares of Caris Life Sciences in a research report on Thursday, July 2nd. Robert W. Baird set a $22.00 price target on Caris Life Sciences in a research note on Friday, May 8th. JPMorgan Chase & Co. cut their price objective on Caris Life Sciences from $35.00 to $30.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. Finally, New Street Research started coverage on Caris Life Sciences in a research report on Friday, May 8th. They issued a "market perform" rating for the company. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $26.11.

Caris Life Sciences Trading Up 3.2%

Caris Life Sciences stock opened at $16.09 on Friday. Caris Life Sciences, Inc. has a 1 year low of $14.19 and a 1 year high of $42.50. The firm's 50-day moving average is $16.98 and its 200-day moving average is $19.07. The company has a debt-to-equity ratio of 0.64, a quick ratio of 6.52 and a current ratio of 7.05. The company has a market cap of $4.55 billion and a P/E ratio of -2.11.

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

Insider Activity

In related news, Director Jeff L. Vacirca bought 31,050 shares of the stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $16.15 per share, with a total value of $501,457.50. Following the completion of the acquisition, the director owned 49,671 shares of the company's stock, valued at $802,186.65. This trade represents a 166.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jon Halbert purchased 68,000 shares of the company's stock in a transaction dated Friday, May 15th. The shares were bought at an average price of $14.56 per share, for a total transaction of $990,080.00. Following the completion of the transaction, the director directly owned 704,598 shares in the company, valued at approximately $10,258,946.88. This trade represents a 10.68% increase in their position. The SEC filing for this purchase provides additional information. 50.00% of the stock is owned by corporate insiders.

Caris Life Sciences Company 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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