Caris Life Sciences, Inc. (NASDAQ:CAI – Get Free Report) shares shot up 6.2% during mid-day trading on Thursday . The company traded as high as $24.23 and last traded at $24.1670. 1,217,386 shares changed hands during trading, a decline of 59% from the average daily volume of 2,991,510 shares. The stock had previously closed at $22.76.
Wall Street Analyst Weigh In
A number of analysts recently commented on CAI shares. New Street Research initiated coverage on Caris Life Sciences in a research note on Friday, May 8th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. reduced their target price on shares of Caris Life Sciences from $35.00 to $30.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. BTIG Research lifted their price target on shares of Caris Life Sciences from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Citigroup cut their price objective on shares of Caris Life Sciences from $35.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Robert W. Baird set a $22.00 price objective on shares of Caris Life Sciences in a research note on Friday, May 8th. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Caris Life Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $26.33.
Check Out Our Latest Stock Report on Caris Life Sciences
Caris Life Sciences Price Performance
Caris Life Sciences announced that its board has approved a stock repurchase plan on Monday, June 8th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. PointState Capital LP purchased a new stake in Caris Life Sciences in the second quarter valued at approximately $121,690,000. BlackRock Inc. acquired a new position in shares of Caris Life Sciences in the 2nd quarter valued at $98,666,000. UBS Group AG boosted its holdings in shares of Caris Life Sciences by 825.9% in the 4th quarter. UBS Group AG now owns 2,183,980 shares of the company’s stock valued at $58,924,000 after purchasing an additional 1,948,107 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Caris Life Sciences by 23,902.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,660,280 shares of the company’s stock valued at $44,794,000 after buying an additional 1,653,363 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Caris Life Sciences by 185.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,445,281 shares of the company’s stock worth $65,974,000 after buying an additional 1,587,176 shares during the last quarter.
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.
See Also
- Five stocks we like better than Caris Life Sciences
- Blueprint for a Boom: SEC Clears the Crypto Runway
- Ross Stores Just Flipped the Off-Price Retail Story After TJX’s Marmaxx Miss
- Advance Auto Parts Plunged, But Its Turnaround Is Still Working
- Is Palo Alto Networks Priced for Perfection Again as AI Security Demand Accelerates?
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.
