Caris Life Sciences, Inc. (NASDAQ:CAI – Get Free Report)’s stock price traded up 7.7% during trading on Tuesday after an insider bought additional shares in the company. The company traded as high as $16.77 and last traded at $17.1720. 348,085 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 2,431,086 shares. The stock had previously closed at $15.94.
Specifically, Director Jeff L. Vacirca purchased 31,050 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $16.15 per share, with a total value of $501,457.50. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the SEC, which is accessible through this link.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on CAI. Piper Sandler began coverage on shares of Caris Life Sciences in a research report on Friday, April 10th. They set a “neutral” rating and a $21.00 price objective for the company. JPMorgan Chase & Co. cut their price target on shares of Caris Life Sciences from $35.00 to $30.00 and set an “overweight” rating for the company in a report on Friday. Wall Street Zen downgraded shares of Caris Life Sciences from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. The Goldman Sachs Group initiated coverage on Caris Life Sciences in a research report on Wednesday, April 1st. They set a “buy” rating and a $27.00 target price on the stock. Finally, Citigroup cut their target price on Caris Life Sciences from $35.00 to $28.00 and set a “buy” rating for the company in a research note on Friday. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.56.
Caris Life Sciences Price Performance
The company has a market cap of $4.78 billion and a PE ratio of -2.23. The company’s 50 day moving average price is $19.04. The company has a debt-to-equity ratio of 0.66, a quick ratio of 7.35 and a current ratio of 7.85.
Caris Life Sciences (NASDAQ:CAI – Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.27. Caris Life Sciences had a net margin of 3.75% and a return on equity of 102.71%. The company had revenue of $292.89 million for the quarter, compared to analyst estimates of $281.00 million. During the same period in the prior year, the business posted ($1.73) earnings per share. The firm’s revenue for the quarter was up 125.4% compared to the same quarter last year. Sell-side analysts predict that Caris Life Sciences, Inc. will post 0.12 earnings per share for the current year.
Institutional Investors Weigh In On Caris Life Sciences
A number of institutional investors and hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC increased its stake in Caris Life Sciences by 99,900.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 999 shares in the last quarter. PNC Financial Services Group Inc. grew 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 valued at $29,000 after purchasing an additional 1,469 shares during the last quarter. Olistico Wealth LLC purchased a new position in shares of Caris Life Sciences in the fourth quarter valued at $31,000. Fifth Third Bancorp acquired a new position in shares of Caris Life Sciences during the 1st quarter worth $31,000. Finally, Sterling Capital Management LLC boosted its position 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 buying an additional 1,083 shares in the last quarter.
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.
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