Zevenbergen Capital Investments LLC cut its holdings in Caris Life Sciences, Inc. (NASDAQ:CAI – Free Report) by 10.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 719,597 shares of the company’s stock after selling 82,486 shares during the period. Zevenbergen Capital Investments LLC’s holdings in Caris Life Sciences were worth $22,041,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its holdings in Caris Life Sciences by 839.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,644 shares of the company’s stock worth $29,000 after acquiring an additional 1,469 shares during the last quarter. Fifth Third Bancorp bought a new stake in shares of Caris Life Sciences in the 1st quarter worth approximately $31,000. Sterling Capital Management LLC lifted its holdings in shares of Caris Life Sciences by 128.3% in the 1st quarter. Sterling Capital Management LLC now owns 1,927 shares of the company’s stock worth $34,000 after purchasing an additional 1,083 shares during the last quarter. MCF Advisors LLC acquired a new position in Caris Life Sciences during the 2nd quarter valued at approximately $36,000. Finally, Trifecta Capital Advisors LLC bought a new position in Caris Life Sciences during the 2nd quarter worth $37,000.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on CAI. Wall Street Zen upgraded Caris Life Sciences from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Evercore reaffirmed an “outperform” rating and issued a $26.00 price objective on shares of Caris Life Sciences in a report on Thursday, August 6th. UBS Group started coverage on shares of Caris Life Sciences in a research report on Wednesday, September 9th. They issued a “neutral” rating and a $28.00 price objective on the stock. BTIG Research boosted their target price on shares of Caris Life Sciences from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings cut shares of Caris Life Sciences from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, October 2nd. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $26.50.
Caris Life Sciences Stock Performance
Shares of NASDAQ:CAI traded up $0.40 on Thursday, hitting $27.50. The company’s stock had a trading volume of 3,861,691 shares, compared to its average volume of 3,411,930. Caris Life Sciences, Inc. has a 12 month low of $14.19 and a 12 month high of $33.65. The company has a market capitalization of $7.77 billion, a price-to-earnings ratio of 76.39 and a beta of 0.86. The stock’s 50-day moving average is $25.63 and its two-hundred day moving average is $20.44. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.88 and a current ratio of 5.53.
Insider Activity at Caris Life Sciences
In other news, insider Brian J. Brille sold 400,000 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $30.33, for a total value 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 approximately $6,985,089.99. This represents a 63.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Russel Denton sold 7,500 shares of the stock in a transaction that occurred 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 trade represents a 4.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,004,712 shares of company stock worth $27,205,419 in the last 90 days. Corporate insiders own 50.00% of the company’s stock.
Caris Life Sciences Profile
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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