Perigon Wealth Management LLC Takes Position in Caris Life Sciences, Inc. $CAI

Perigon Wealth Management LLC purchased a new position in Caris Life Sciences, Inc. (NASDAQ:CAI) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 24,576 shares of the company’s stock, valued at approximately $438,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CAI. T. Rowe Price Investment Management Inc. lifted its stake in Caris Life Sciences by 14.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,205,959 shares of the company’s stock valued at $248,377,000 after buying an additional 1,180,200 shares during the period. Braidwell LP boosted its holdings 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 grew its position in shares of Caris Life Sciences by 73.0% during the 4th quarter. PointState Capital LP now owns 6,718,707 shares of the company’s stock worth $181,271,000 after buying an additional 2,834,986 shares during the period. Orbimed Advisors LLC increased its stake in shares of Caris Life Sciences by 2.7% in the 4th quarter. Orbimed Advisors LLC now owns 3,116,011 shares of the company’s stock valued at $84,070,000 after acquiring an additional 81,153 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Caris Life Sciences by 185.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,445,281 shares of the company’s stock valued at $65,974,000 after acquiring an additional 1,587,176 shares during the period.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wolfe Research lowered shares of Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 1st. Citigroup lowered their target price on shares of Caris Life Sciences from $35.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, May 8th. New Street Research assumed coverage on shares of Caris Life Sciences in a report on Friday, May 8th. They issued a “market perform” rating on the stock. Wall Street Zen raised shares of Caris Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. Finally, Robert W. Baird set a $22.00 price target on shares of Caris Life Sciences in a report on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Caris Life Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $26.33.

Caris Life Sciences Trading Up 8.0%

NASDAQ:CAI opened at $24.58 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 5.53 and a quick ratio of 4.88. The business’s 50-day simple moving average is $18.27 and its 200-day simple moving average is $18.52. Caris Life Sciences, Inc. has a fifty-two week low of $14.19 and a fifty-two week high of $42.50. The stock has a market capitalization of $6.95 billion, a PE ratio of 68.28 and a beta of 0.68.

Caris Life Sciences declared that its board has authorized a stock buyback plan on Monday, June 8th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Caris Life Sciences 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.