Caris Life Sciences (NASDAQ:CAI) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Caris Life Sciences (NASDAQ:CAI) from a sell rating to a hold rating in a research report report published on Sunday morning.

CAI has been the subject of several other research reports. BTIG Research upped their price objective on Caris Life Sciences from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Robert W. Baird set a $22.00 target price on shares of Caris Life Sciences in a research report on Friday, May 8th. Evercore restated an “outperform” rating and issued a $26.00 price target on shares of Caris Life Sciences in a research report on Thursday, August 6th. New Street Research started coverage on shares of Caris Life Sciences in a research note on Friday, May 8th. They set a “market perform” rating for the company. Finally, Wolfe Research lowered shares of Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a report on Monday, June 1st. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.33.

Caris Life Sciences Price Performance

Caris Life Sciences stock opened at $21.80 on Friday. The stock has a 50-day moving average price of $17.83 and a two-hundred day moving average price of $18.59. Caris Life Sciences has a 12 month low of $14.19 and a 12 month high of $42.50. The company has a market capitalization of $6.16 billion, a PE ratio of 60.56 and a beta of 0.68. The company has a current ratio of 5.53, a quick ratio of 4.88 and a debt-to-equity ratio of 0.66.

Caris Life Sciences declared that its board has initiated a stock repurchase program on Monday, June 8th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Caris Life Sciences

A number of institutional investors have recently modified their holdings of CAI. Global Retirement Partners LLC raised its stake in Caris Life Sciences by 99,900.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,000 shares of the company’s stock worth $27,000 after buying an additional 999 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Caris Life Sciences by 839.4% during the 1st 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 in the last quarter. Fifth Third Bancorp bought a new stake in shares of Caris Life Sciences during the 1st quarter valued at about $31,000. Sterling Capital Management LLC grew its stake in Caris Life Sciences by 128.3% during the first 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 period. Finally, Trifecta Capital Advisors LLC bought a new stake in Caris Life Sciences in the second quarter worth approximately $37,000.

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.