Meeder Asset Management Inc. Takes Position in Caris Life Sciences, Inc. $CAI

Meeder Asset Management Inc. acquired a new position in shares of Caris Life Sciences, Inc. (NASDAQ:CAI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 34,035 shares of the company’s stock, valued at approximately $607,000.

Several other hedge funds have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. grew its holdings in Caris Life Sciences by 14.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,205,959 shares of the company’s stock worth $248,377,000 after purchasing an additional 1,180,200 shares during the period. Braidwell LP increased its position in Caris Life Sciences by 6.8% during the fourth quarter. Braidwell LP now owns 7,816,142 shares of the company’s stock worth $210,880,000 after buying an additional 500,000 shares during the last quarter. PointState Capital LP raised its stake in Caris Life Sciences by 73.0% in the fourth quarter. PointState Capital LP now owns 6,718,707 shares of the company’s stock valued at $181,271,000 after buying an additional 2,834,986 shares during the period. BlackRock Inc. acquired a new stake in shares of Caris Life Sciences in the second quarter valued at approximately $98,666,000. Finally, Orbimed Advisors LLC lifted its position in shares of Caris Life Sciences by 2.7% in the fourth quarter. Orbimed Advisors LLC now owns 3,116,011 shares of the company’s stock valued at $84,070,000 after buying an additional 81,153 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CAI shares. New Street Research started coverage on Caris Life Sciences in a report on Friday, May 8th. They set a “market perform” rating on the stock. Evercore reaffirmed an “outperform” rating and set a $26.00 price target on shares of Caris Life Sciences in a report on Thursday, August 6th. JPMorgan Chase & Co. reduced their price objective on shares of Caris Life Sciences from $35.00 to $30.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Caris Life Sciences in a report on Friday, August 7th. Finally, Citigroup dropped their price objective on shares of Caris Life Sciences from $35.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Caris Life Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $26.33.

Caris Life Sciences Trading Down 3.1%

Shares of CAI stock opened at $20.97 on Wednesday. Caris Life Sciences, Inc. has a 12-month low of $14.19 and a 12-month high of $42.50. The company has a market capitalization of $5.93 billion, a PE ratio of 58.25 and a beta of 0.68. The firm has a 50 day moving average price of $18.02 and a two-hundred day moving average price of $18.52. The company has a quick ratio of 4.88, a current ratio of 5.53 and a debt-to-equity ratio of 0.66.

Caris Life Sciences announced that its board has initiated a stock buyback plan on Monday, June 8th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.