Brian Brille Sells 400,000 Shares of Caris Life Sciences (NASDAQ:CAI) Stock

Key Points

• Insider sale: Brian Brille sold 400,000 Caris Life Sciences shares for approximately $12.1 million, reducing his position by 63.46% to 230,303 shares.
• Stock performance: CAI shares rose to $30.92, near their 12-month high of $34.54, with a market capitalization of $8.74 billion and a P/E ratio of 85.89.
• Analyst outlook and buyback: Caris authorized a $100 million share-repurchase program, while analysts’ consensus rating is “Hold” with an average price target of $26.50, below the current share price.

Caris Life Sciences, Inc. (NASDAQ:CAI - Get Free Report) insider Brian Brille sold 400,000 shares of the business's stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $30.33, for a total value of $12,132,000.00. Following the sale, the insider owned 230,303 shares in the company, valued at approximately $6,985,089.99. The trade was a 63.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Caris Life Sciences Stock Performance

Shares of NASDAQ:CAI traded up $2.71 during trading on Thursday, hitting $30.92. The stock had a trading volume of 7,658,523 shares, compared to its average volume of 3,267,607. 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 12-month low of $14.19 and a 12-month high of $34.54. The stock has a market capitalization of $8.74 billion, a price-to-earnings ratio of 85.89 and a beta of 1.10. The stock has a 50-day simple moving average of $21.20 and a two-hundred day simple moving average of $19.18.

Caris Life Sciences declared that its board has initiated a share repurchase program on Monday, June 8th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 2.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Hedge Funds Weigh In On Caris Life Sciences

A number of hedge funds have recently bought and sold shares of CAI. PNC Financial Services Group Inc. raised 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 worth $29,000 after buying an additional 1,469 shares during the period. Fifth Third Bancorp acquired a new stake in Caris Life Sciences in the 1st quarter valued at $31,000. Sterling Capital Management LLC increased its holdings in Caris Life Sciences by 128.3% in the 1st quarter. Sterling Capital Management LLC now owns 1,927 shares of the company's stock worth $34,000 after acquiring an additional 1,083 shares in the last quarter. MCF Advisors LLC acquired a new position in Caris Life Sciences during the second quarter worth $36,000. Finally, Trifecta Capital Advisors LLC purchased a new position in Caris Life Sciences during the second quarter valued at $37,000.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CAI. UBS Group initiated coverage on shares of Caris Life Sciences in a research note on Wednesday, September 9th. They issued a "neutral" rating and a $28.00 price objective on the stock. Evercore reaffirmed an "outperform" rating and issued a $26.00 price target on shares of Caris Life Sciences in a report on Thursday, August 6th. Weiss Ratings upgraded Caris Life Sciences from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday. BTIG Research raised their target price on Caris Life Sciences from $32.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, Wall Street Zen raised Caris Life Sciences from a "sell" rating to a "hold" rating in a report on Sunday, August 16th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $26.50.

Caris Life Sciences Company Profile

Caris Life Sciences is a precision medicine and biotechnology company headquartered in Irving, Texas. Founded in 2008, the company combines molecular profiling, artificial intelligence and clinical data to support more informed decisions in cancer diagnosis and treatment.

Caris provides comprehensive tumor profiling and other laboratory testing services designed to identify genetic, molecular and immune characteristics of a patient's cancer. Its offerings are intended to help physicians match patients with targeted therapies, immunotherapies and clinical trials, while also supporting cancer research and drug development.

The company serves healthcare providers, biopharmaceutical companies and academic or research institutions.

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