Caris Life Sciences, Inc. (NASDAQ:CAI – Get Free Report)’s share price was up 3% on Wednesday . The stock traded as high as $32.71 and last traded at $32.4260. 576,757 shares traded hands during trading, a decline of 83% from the average session volume of 3,344,354 shares. The stock had previously closed at $31.47.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on CAI shares. BTIG Research lifted their target price on Caris Life Sciences from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings upgraded Caris Life Sciences from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, September 16th. Evercore reaffirmed an “outperform” rating and issued a $26.00 price objective 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 report on Sunday, August 16th. Finally, Wolfe Research downgraded shares of Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 1st. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $26.50.
View Our Latest Stock Report on Caris Life Sciences
Caris Life Sciences Stock Performance
Caris Life Sciences announced that its board has approved a stock buyback plan on Monday, June 8th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 2.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
Insider Transactions at Caris Life Sciences
In other Caris Life Sciences news, President David Spetzler sold 119,212 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $24.76, for a total value of $2,951,689.12. Following the completion of the sale, the president directly owned 1,182,871 shares in the company, valued at $29,287,885.96. This trade represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Brian J. Brille sold 400,000 shares of Caris Life Sciences stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $30.33, for a total transaction of $12,132,000.00. Following the completion of the transaction, the insider directly owned 230,303 shares in the company, valued at $6,985,089.99. This represents a 63.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 997,212 shares of company stock worth $26,966,769 over the last 90 days. Company insiders own 50.00% of the company’s stock.
Institutional Investors Weigh In On Caris Life Sciences
A number of large investors have recently modified their holdings of CAI. Braidwell LP raised its position in shares of Caris Life Sciences by 3.1% in the 2nd quarter. Braidwell LP now owns 8,256,032 shares of the company’s stock valued at $147,122,000 after purchasing an additional 246,585 shares during the last quarter. PointState Capital LP acquired a new position in Caris Life Sciences during the 2nd quarter valued at approximately $121,690,000. BlackRock Inc. purchased a new position in shares of Caris Life Sciences in the second quarter worth $98,666,000. Clearbridge Investments LLC grew its holdings in shares of Caris Life Sciences by 2.5% during the fourth quarter. Clearbridge Investments LLC now owns 1,416,207 shares of the company’s stock valued at $38,209,000 after buying an additional 34,977 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in Caris Life Sciences in the 2nd quarter worth $24,502,000.
Caris Life Sciences Company Profile
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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