David Baxley Spetzler Sells 478,000 Shares of Caris Life Sciences (NASDAQ:CAI) Stock

Key Points

• Caris Life Sciences President David Baxley Spetzler sold 478,000 shares for approximately $11.9 million, reducing his direct stake by 31.24%; the sale covered tax-withholding obligations tied to vested equity awards. He also sold an additional 119,212 shares the following day for about $3.0 million.
• CAI shares traded near $25.07, with the company valued at roughly $7.08 billion. Caris has authorized a $100 million share-repurchase program, allowing it to buy back up to 2.1% of outstanding shares.
• Analysts’ consensus rating remains “Moderate Buy”, based on seven Buy, four Hold, and one Sell rating, with an average price target of $26.33.

Caris Life Sciences, Inc. (NASDAQ:CAI - Get Free Report) President David Baxley Spetzler sold 478,000 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $24.86, for a total transaction of $11,883,080.00. Following the transaction, the president directly owned 1,052,083 shares of the company's stock, valued at $26,154,783.38. This trade represents a 31.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

David Baxley Spetzler also recently made the following trade(s):

• On Friday, September 4th, David Baxley Spetzler sold 119,212 shares of Caris Life Sciences stock. The stock was sold at an average price of $24.76, for a total value of $2,951,689.12.

Caris Life Sciences Price Performance

CAI traded down $0.25 during trading hours on Friday, hitting $25.07. The company's stock had a trading volume of 4,711,249 shares, compared to its average volume of 3,206,680. The business's 50-day moving average price is $19.85 and its 200-day moving average price is $18.80. Caris Life Sciences, Inc. has a 12 month low of $14.19 and a 12 month high of $36.65. The company has a current ratio of 5.53, a quick ratio of 4.88 and a debt-to-equity ratio of 0.66. The stock has a market cap of $7.08 billion, a price-to-earnings ratio of 69.64 and a beta of 1.10.

Caris Life Sciences declared that its Board of Directors has approved a share buyback plan on Monday, June 8th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 2.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CAI shares. Wolfe Research lowered shares of Caris Life Sciences from an "outperform" rating to a "peer perform" rating in a report on Monday, June 1st. Wall Street Zen upgraded Caris Life Sciences from a "sell" rating to a "hold" rating in a research note on Sunday, August 16th. Robert W. Baird set a $22.00 price objective on shares of Caris Life Sciences in a research note on Friday, May 8th. Weiss Ratings raised shares of Caris Life Sciences from a "sell (d-)" rating to a "sell (d)" rating in a research report on Friday, August 21st. Finally, New Street Research assumed coverage on Caris Life Sciences in a research note on Friday, May 8th. They set a "market perform" rating on the stock. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $26.33.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CAI. Corient Private Wealth LP purchased a new position in shares of Caris Life Sciences during the 2nd quarter valued at approximately $316,000. Amundi increased its stake in Caris Life Sciences by 5,709.5% during the 2nd quarter. Amundi now owns 1,218,364 shares of the company's stock worth $21,711,000 after buying an additional 1,197,392 shares in the last quarter. California State Teachers Retirement System raised its stake in Caris Life Sciences by 64,861.8% in the 2nd quarter. California State Teachers Retirement System now owns 3,249,388 shares of the company's stock valued at $57,904,000 after purchasing an additional 3,244,386 shares during the last quarter. Braidwell LP lifted its stake in shares of Caris Life Sciences by 3.1% in the second quarter. Braidwell LP now owns 8,256,032 shares of the company's stock worth $147,122,000 after buying an additional 246,585 shares in the last quarter. Finally, Moore Capital Management LP purchased a new position in Caris Life Sciences in the 2nd quarter worth approximately $1,139,000.

About Caris Life Sciences

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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