Maxi Investments CY Ltd Invests $3.75 Million in Caris Life Sciences, Inc. $CAI

Maxi Investments CY Ltd acquired a new stake in Caris Life Sciences, Inc. (NASDAQ:CAI) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 210,670 shares of the company’s stock, valued at approximately $3,754,000.

A number of other hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC lifted its holdings in Caris Life Sciences by 99,900.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,000 shares of the company’s stock valued at $27,000 after buying an additional 999 shares during the period. PNC Financial Services Group Inc. boosted its position in Caris Life Sciences by 839.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,644 shares of the company’s stock valued at $29,000 after acquiring an additional 1,469 shares during the last quarter. Fifth Third Bancorp acquired a new stake in Caris Life Sciences during the 1st quarter worth about $31,000. Sterling Capital Management LLC raised 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 acquiring an additional 1,083 shares in the last quarter. Finally, Trifecta Capital Advisors LLC acquired a new position in shares of Caris Life Sciences in the 2nd quarter valued at about $37,000.

Caris Life Sciences Price Performance

Shares of NASDAQ:CAI opened at $26.27 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.88 and a current ratio of 5.53. Caris Life Sciences, Inc. has a 52-week low of $14.19 and a 52-week high of $42.50. The business’s 50 day simple moving average is $18.43 and its two-hundred day simple moving average is $18.54. The firm has a market cap of $7.42 billion, a P/E ratio of 72.97 and a beta of 0.68.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CAI. Weiss Ratings upgraded Caris Life Sciences from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday. Wall Street Zen raised Caris Life Sciences from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. BTIG Research increased their price target on Caris Life Sciences from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Citigroup reduced 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 investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $26.33.

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.