Insider Selling: Caris Life Sciences (NASDAQ:CAI) Insider Sells 7,500 Shares

Key Points

• Caris Life Sciences insider John Russel Denton sold 7,500 shares at an average price of $31.82, generating $238,650 and reducing his stake by 4.11% to 174,855 shares.
• CAI shares traded at $31.65, near their 12-month high of $33.65, while the company has a $100 million share-repurchase authorization covering up to 2.1% of outstanding shares.
• Analyst sentiment is mixed: seven analysts rate the stock Buy, five Hold and one Sell, producing a consensus Hold rating and an average price target of $26.50.

Caris Life Sciences, Inc. (NASDAQ:CAI - Get Free Report) insider John Russel Denton sold 7,500 shares of the company's stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $31.82, for a total transaction of $238,650.00. Following the completion of the transaction, the insider owned 174,855 shares of the company's stock, valued at $5,563,886.10. This represents a 4.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Caris Life Sciences Stock Performance

Shares of CAI traded up $0.18 during midday trading on Wednesday, reaching $31.65. 4,359,655 shares of the stock were exchanged, compared to its average volume of 3,367,892. Caris Life Sciences, Inc. has a twelve month low of $14.19 and a twelve month high of $33.65. 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 $8.94 billion, a price-to-earnings ratio of 87.92 and a beta of 1.10. The business's 50-day moving average price is $22.28 and its 200 day moving average price is $19.49.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CAI shares. Weiss Ratings upgraded shares of Caris Life Sciences from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, September 16th. Evercore reiterated an "outperform" rating and set a $26.00 price target on shares of Caris Life Sciences in a research note on Thursday, August 6th. BTIG Research raised their price objective on shares of Caris Life Sciences from $32.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. UBS Group assumed coverage on shares of Caris Life Sciences in a report on Wednesday, September 9th. They issued a "neutral" rating and a $28.00 target price for the company. Finally, Wolfe Research lowered Caris Life Sciences from an "outperform" rating to a "peer perform" rating in a report on Monday, June 1st. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $26.50.

Institutional Investors Weigh In On Caris Life Sciences

A number of hedge funds have recently added to or reduced their stakes in the company. Braidwell LP boosted 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 valued at $147,122,000 after buying an additional 246,585 shares in the last quarter. PointState Capital LP acquired a new stake in Caris Life Sciences in the second quarter valued at $121,690,000. BlackRock Inc. purchased a new stake in shares of Caris Life Sciences during the 2nd quarter worth $98,666,000. Clearbridge Investments LLC boosted its position in shares of Caris Life Sciences by 2.5% during the 4th quarter. Clearbridge Investments LLC now owns 1,416,207 shares of the company's stock worth $38,209,000 after purchasing an additional 34,977 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Caris Life Sciences during the 2nd quarter worth $24,502,000.

About Caris Life Sciences

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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