Caris Life Sciences (NASDAQ:CAI) Issues Earnings Results

Caris Life Sciences (NASDAQ:CAI) released its quarterly earnings data on Thursday. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.27, Zacks reports.

Caris Life Sciences Stock Up 5.1%

NASDAQ:CAI traded up $0.93 during trading hours on Thursday, hitting $19.24. 2,615,008 shares of the stock were exchanged, compared to its average volume of 2,478,399. The firm has a market capitalization of $5.43 billion and a P/E ratio of -41.83. The company has a debt-to-equity ratio of 0.79, a current ratio of 9.93 and a quick ratio of 9.36. The company’s 50 day moving average is $24.75. Caris Life Sciences has a twelve month low of $17.15 and a twelve month high of $42.50.

Wall Street Analysts Forecast Growth

CAI has been the subject of several recent analyst reports. Evercore set a $38.00 price objective on Caris Life Sciences in a research note on Monday, January 5th. Robert W. Baird initiated coverage on shares of Caris Life Sciences in a research report on Tuesday, February 17th. They set an “outperform” rating and a $26.00 target price for the company. Canaccord Genuity Group boosted their price target on shares of Caris Life Sciences from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, December 22nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Caris Life Sciences in a report on Monday, December 29th. Finally, Wall Street Zen cut Caris Life Sciences from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Caris Life Sciences presently has a consensus rating of “Hold” and a consensus price target of $31.33.

Insider Buying and Selling at Caris Life Sciences

In other news, insider Luke Thomas Power sold 62,250 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $26.58, for a total transaction of $1,654,605.00. Following the transaction, the insider owned 99,571 shares of the company’s stock, valued at $2,646,597.18. This represents a 38.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 7.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Global Retirement Partners LLC raised its holdings in Caris Life Sciences by 99,900.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,000 shares of the company’s stock worth $27,000 after purchasing an additional 999 shares during the period. MetLife Investment Management LLC increased its position in shares of Caris Life Sciences by 84.0% in the 4th quarter. MetLife Investment Management LLC now owns 1,654 shares of the company’s stock valued at $45,000 after buying an additional 755 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Caris Life Sciences during the 4th quarter worth $67,000. Federated Hermes Inc. bought a new position in Caris Life Sciences during the fourth quarter worth about $81,000. Finally, Federation des caisses Desjardins du Quebec acquired a new position in Caris Life Sciences in the fourth quarter valued at about $214,000.

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.