Moore Capital Management LP Makes New Investment in Caris Life Sciences, Inc. $CAI

Key Points

• Moore Capital Management acquired 63,895 shares of Caris Life Sciences in the second quarter, valued at approximately $1.14 million. Other major investors, including PointState Capital and BlackRock, also established or increased positions.
• Analyst sentiment remains generally positive, with seven Buy ratings, four Holds and one Sell. The stock has a consensus rating of Moderate Buy and an average price target of $26.33.
• Caris shares opened at $25.49, while the company authorized a $100 million share-repurchase program, allowing it to buy back up to 2.1% of outstanding shares.

Moore Capital Management LP purchased a new stake in Caris Life Sciences, Inc. (NASDAQ:CAI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 63,895 shares of the company's stock, valued at approximately $1,139,000.

Other institutional investors have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. raised its position in Caris Life Sciences by 14.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,205,959 shares of the company's stock valued at $248,377,000 after purchasing an additional 1,180,200 shares during the period. Braidwell LP grew its holdings in shares of Caris Life Sciences by 6.8% during the 4th quarter. Braidwell LP now owns 7,816,142 shares of the company's stock worth $210,880,000 after purchasing an additional 500,000 shares during the period. PointState Capital LP acquired a new stake in shares of Caris Life Sciences during the 2nd quarter worth about $121,690,000. BlackRock Inc. acquired a new position in Caris Life Sciences in the second quarter valued at about $98,666,000. Finally, Orbimed Advisors LLC boosted its stake in Caris Life Sciences by 2.7% during the fourth quarter. Orbimed Advisors LLC now owns 3,116,011 shares of the company's stock worth $84,070,000 after buying an additional 81,153 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CAI. Wolfe Research lowered shares of Caris Life Sciences from an "outperform" rating to a "peer perform" rating in a report on Monday, June 1st. Weiss Ratings raised Caris Life Sciences from a "sell (d-)" rating to a "sell (d)" rating in a research report on Friday, August 21st. Evercore restated an "outperform" rating and set a $26.00 price target on shares of Caris Life Sciences in a research report on Thursday, August 6th. New Street Research began coverage on Caris Life Sciences in a report on Friday, May 8th. They issued a "market perform" rating on the stock. Finally, Citigroup lowered their target price on Caris Life Sciences from $35.00 to $28.00 and set a "buy" rating for the company in a report on Friday, May 8th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $26.33.

Caris Life Sciences Stock Down 0.5%

Shares of Caris Life Sciences stock 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 52-week low of $14.19 and a 52-week high of $39.18. The company has a market capitalization of $7.20 billion, a P/E ratio of 70.81 and a beta of 0.68. The company has a 50 day moving average of $19.44 and a 200 day moving average of $18.72.

Caris Life Sciences announced that its Board of Directors has authorized a stock repurchase program on Monday, June 8th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board 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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