PointState Capital LP acquired a new position in shares of Caris Life Sciences, Inc. (NASDAQ:CAI - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 6,828,835 shares of the company's stock, valued at approximately $121,690,000. Caris Life Sciences accounts for about 1.6% of PointState Capital LP's holdings, making the stock its 22nd biggest position. PointState Capital LP owned 2.42% of Caris Life Sciences at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Renaissance Technologies LLC raised its position in shares of Caris Life Sciences by 36.4% during the 1st quarter. Renaissance Technologies LLC now owns 449,900 shares of the company's stock worth $8,044,000 after purchasing an additional 120,000 shares during the period. UBS Group AG grew its stake in Caris Life Sciences by 825.9% during the 4th quarter. UBS Group AG now owns 2,183,980 shares of the company's stock worth $58,924,000 after buying an additional 1,948,107 shares during the last quarter. Sei Investments Co. increased its position in Caris Life Sciences by 2,348.6% in the first quarter. Sei Investments Co. now owns 598,712 shares of the company's stock worth $10,705,000 after buying an additional 574,261 shares during the period. Lazard Asset Management LLC lifted its stake in Caris Life Sciences by 26.0% in the first quarter. Lazard Asset Management LLC now owns 305,911 shares of the company's stock valued at $5,470,000 after buying an additional 63,132 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Caris Life Sciences by 50.8% during the first quarter. The Manufacturers Life Insurance Company now owns 153,512 shares of the company's stock valued at $2,745,000 after acquiring an additional 51,696 shares during the period.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on CAI. New Street Research started coverage on shares of Caris Life Sciences in a research report on Friday, May 8th. They issued a "market perform" rating on the stock. Robert W. Baird set a $22.00 price target on shares of Caris Life Sciences in a research note on Friday, May 8th. BTIG Research lifted their price target on Caris Life Sciences from $32.00 to $33.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Citigroup decreased their price objective 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. Finally, Wall Street Zen raised Caris Life Sciences from a "sell" rating to a "hold" rating in a research note on Sunday, August 16th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $26.33.
Read Our Latest Report on Caris Life Sciences
Caris Life Sciences Stock Down 4.2%
CAI stock opened at $26.82 on Thursday. The firm has a market cap of $7.58 billion, a PE ratio of 74.50 and a beta of 0.68. Caris Life Sciences, Inc. has a 12 month low of $14.19 and a 12 month high of $39.18. The company has a debt-to-equity ratio of 0.66, a current ratio of 5.53 and a quick ratio of 4.88. The firm has a 50 day simple moving average of $18.97 and a 200 day simple moving average of $18.64.
Caris Life Sciences announced that its Board of Directors has approved a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.
About Caris Life Sciences
(
Free Report)
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.
Further Reading
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