Caris Life Sciences, Inc. (NASDAQ:CAI – Get Free Report) shares shot up 8.2% during mid-day trading on Thursday . The company traded as high as $19.75 and last traded at $19.6450. Approximately 1,150,522 shares were traded during mid-day trading, a decline of 55% from the average session volume of 2,545,586 shares. The stock had previously closed at $18.15.
Analyst Ratings Changes
A number of analysts have recently issued reports on the stock. Canaccord Genuity Group cut their price target on shares of Caris Life Sciences from $30.00 to $22.00 and set a “hold” rating for the company in a report on Friday, March 13th. Citigroup decreased their price objective on Caris Life Sciences from $35.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, May 8th. BTIG Research lowered their price objective on Caris Life Sciences from $38.00 to $32.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Jefferies Financial Group initiated coverage on Caris Life Sciences in a research report on Monday, April 13th. They issued a “buy” rating and a $28.00 target price on the stock. Finally, New Street Research assumed coverage on Caris Life Sciences in a research note on Friday, May 8th. They issued a “market perform” rating on the stock. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Caris Life Sciences has a consensus rating of “Hold” and a consensus target price of $27.56.
View Our Latest Stock Report on CAI
Caris Life Sciences Trading Down 1.1%
Caris Life Sciences announced that its board has authorized a stock buyback plan on Monday, June 8th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.
Insider Transactions at Caris Life Sciences
In other news, Director Jeff L. Vacirca bought 31,050 shares of the business’s stock in a transaction on Monday, May 11th. The shares were bought at an average price of $16.15 per share, with a total value of $501,457.50. Following the completion of the transaction, the director directly owned 49,671 shares in the company, valued at $802,186.65. This trade represents a 166.75% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 50.00% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Caris Life Sciences
Several institutional investors and hedge funds have recently modified their holdings of CAI. Amundi purchased a new position in Caris Life Sciences during the 1st quarter valued at about $375,000. California State Teachers Retirement System increased its stake in Caris Life Sciences by 254.5% during the first quarter. California State Teachers Retirement System now owns 5,002 shares of the company’s stock worth $89,000 after purchasing an additional 3,591 shares during the period. Royal Bank of Canada increased its stake in Caris Life Sciences by 101.8% during the first quarter. Royal Bank of Canada now owns 18,651 shares of the company’s stock worth $333,000 after purchasing an additional 9,407 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Caris Life Sciences by 50.8% during the first quarter. The Manufacturers Life Insurance Company now owns 153,512 shares of the company’s stock worth $2,745,000 after purchasing an additional 51,696 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in shares of Caris Life Sciences by 117.0% in the first quarter. Quantinno Capital Management LP now owns 140,909 shares of the company’s stock valued at $2,519,000 after purchasing an additional 75,987 shares during the period.
Caris Life Sciences Company Profile
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.
Featured Stories
- Five stocks we like better than Caris Life Sciences
- MarketBeat Week in Review – 06/22 – 06/26
- Rocket Lab’s NASA Win Tests Key Support After Sharp Pullback
- AST SpaceMobile Just Nailed a Major Launch—So Why Is the Stock Crashing?
- Palantir’s Valuation Problem Just Met 2 New Growth Catalysts
Receive News & Ratings for Caris Life Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caris Life Sciences and related companies with MarketBeat.com's FREE daily email newsletter.
