Caris Life Sciences (NASDAQ:CAI) Shares Up 7.6% - Still a Buy?

Key Points

• Caris Life Sciences shares rose 7.6% to about $29.58, with roughly 1.97 million shares traded—below the stock’s average daily volume.
• Analyst sentiment is mixed: seven analysts rate the stock a Buy, five rate it Hold and one rates it Sell. The overall consensus is Hold, with an average price target of $26.50, below the recent share price.
• Insiders sold more than 1 million shares worth approximately $27.2 million over the past 90 days, including substantial sales by company executives; insiders still own 50% of the stock.

Caris Life Sciences, Inc. (NASDAQ:CAI - Get Free Report) rose 7.6% on Friday. The company traded as high as $29.50 and last traded at $29.5790. Approximately 1,972,324 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 3,403,067 shares. The stock had previously closed at $27.50.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CAI shares. Evercore reaffirmed an "outperform" rating and set a $26.00 target price on shares of Caris Life Sciences in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Caris Life Sciences from a "sell" rating to a "hold" rating in a research report on Sunday, August 16th. BTIG Research upped their price target on shares of Caris Life Sciences from $32.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Weiss Ratings lowered Caris Life Sciences from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, October 2nd. Finally, UBS Group began coverage on Caris Life Sciences in a research report on Wednesday, September 9th. They set a "neutral" rating and a $28.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $26.50.

Caris Life Sciences Stock Up 7.6%

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 business has a fifty day simple moving average of $25.63 and a two-hundred day simple moving average of $20.44. The company has a market cap of $8.36 billion, a PE ratio of 82.31 and a beta of 0.86.

Insider Transactions at Caris Life Sciences

In related news, President David Spetzler sold 478,000 shares of the firm's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $24.86, for a total value of $11,883,080.00. Following the sale, the president 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Brian Brille sold 400,000 shares of the company's stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $30.33, for a total transaction of $12,132,000.00. Following the completion of the sale, the insider directly owned 230,303 shares of the company's stock, valued at $6,985,089.99. The trade was a 63.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,004,712 shares of company stock valued at $27,205,419. 50.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its position in Caris Life Sciences by 133.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,263 shares of the company's stock valued at $39,000 after buying an additional 721 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Caris Life Sciences by 3,888.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 5,105 shares of the company's stock worth $156,000 after acquiring an additional 4,977 shares during the period. Whalen Wealth Management Inc. purchased a new stake in shares of Caris Life Sciences in the third quarter valued at about $278,000. City Center Advisors LLC acquired a new position in shares of Caris Life Sciences during the third quarter worth about $566,000. Finally, Juncture Wealth Strategies LLC acquired a new position in shares of Caris Life Sciences during the third quarter worth about $243,000.

About Caris Life Sciences

Caris Life Sciences is a biotechnology company focused on precision oncology and the use of molecular and artificial intelligence technologies to support cancer diagnosis and treatment decisions. The company analyzes tumor and blood samples to identify genetic, molecular and other biological characteristics that may help physicians select targeted therapies and develop individualized treatment plans.

Its offerings include comprehensive tumor profiling, molecular testing and data-driven clinical support for oncologists and other healthcare providers.

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