Walleye Capital LLC Acquires Shares of 424,407 Caris Life Sciences, Inc. $CAI

Key Points

• Walleye Capital acquired 424,407 shares of Caris Life Sciences during the second quarter, valued at approximately $7.56 million and representing 0.15% of the company.
• Analyst sentiment remains generally positive, with seven Buy ratings, four Holds and one Sell; the consensus rating is Moderate Buy with a $26.33 price target.
• Caris authorized a $100 million share-repurchase program, allowing it to buy back up to 2.1% of outstanding shares, while CAI recently traded at $21.80.

Walleye Capital LLC bought a new stake in Caris Life Sciences, Inc. (NASDAQ:CAI - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 424,407 shares of the company's stock, valued at approximately $7,563,000. Walleye Capital LLC owned 0.15% of Caris Life Sciences at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CAI. Global Retirement Partners LLC grew its holdings in Caris Life Sciences by 99,900.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,000 shares of the company's stock valued at $27,000 after purchasing an additional 999 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake 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 worth $29,000 after purchasing an additional 1,469 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Caris Life Sciences by 84.0% in the fourth quarter. MetLife Investment Management LLC now owns 1,654 shares of the company's stock worth $45,000 after purchasing an additional 755 shares during the last quarter. Fifth Third Bancorp purchased a new position in shares of Caris Life Sciences during the first quarter valued at approximately $31,000. Finally, Sterling Capital Management LLC grew its stake in shares of Caris Life Sciences by 128.3% during 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 during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup reduced their price target on Caris Life Sciences from $35.00 to $28.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Wolfe Research cut Caris Life Sciences from an "outperform" rating to a "peer perform" rating in a report on Monday, June 1st. Evercore reaffirmed an "outperform" rating and issued a $26.00 price objective on shares of Caris Life Sciences in a research report on Thursday, August 6th. JPMorgan Chase & Co. reduced their target price 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, Weiss Ratings reiterated a "sell (d-)" rating on shares of Caris Life Sciences in a research report on Friday, August 7th. Seven 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 company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $26.33.

Caris Life Sciences Price Performance

Shares of CAI stock opened at $21.80 on Friday. 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 company has a market capitalization of $6.16 billion, a P/E ratio of 60.56 and a beta of 0.68. The company's 50-day simple moving average is $17.83 and its two-hundred day simple moving average is $18.64. Caris Life Sciences, Inc. has a one year low of $14.19 and a one year high of $42.50.

Caris Life Sciences declared that its Board of Directors has initiated a stock repurchase program on Monday, June 8th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership 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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