PDT Partners LLC Takes $392,000 Position in Caris Life Sciences, Inc. $CAI

PDT Partners LLC bought a new position in Caris Life Sciences, Inc. (NASDAQ:CAI) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 22,016 shares of the company’s stock, valued at approximately $392,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UBS Group AG grew its position in Caris Life Sciences by 825.9% during the fourth quarter. UBS Group AG now owns 2,183,980 shares of the company’s stock valued at $58,924,000 after acquiring an additional 1,948,107 shares during the last quarter. ProShare Advisors LLC purchased a new stake in shares of Caris Life Sciences in the 4th quarter valued at $336,000. Global Retirement Partners LLC grew its holdings in shares of Caris Life Sciences by 99,900.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 999 shares during the last quarter. Seven Grand Managers LLC grew its holdings in shares of Caris Life Sciences by 395.1% during the 4th quarter. Seven Grand Managers LLC now owns 495,095 shares of the company’s stock valued at $13,358,000 after purchasing an additional 395,095 shares during the last quarter. Finally, Norges Bank purchased a new position in Caris Life Sciences in the 4th quarter worth $2,976,000.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Evercore reissued an “outperform” rating and issued a $26.00 price target on shares of Caris Life Sciences in a research note on Thursday, August 6th. JPMorgan Chase & Co. decreased their price objective on Caris Life Sciences from $35.00 to $30.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Wolfe Research lowered Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 1st. BTIG Research increased their target price on Caris Life Sciences from $32.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Citigroup reduced their price target on 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 analysts have rated the stock with a Buy rating, four have assigned 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 1.6%

Shares of CAI opened at $26.38 on Friday. The stock has a market capitalization of $7.45 billion, a P/E ratio of 73.28 and a beta of 0.68. The firm has a fifty day simple moving average of $19.13 and a two-hundred day simple moving average of $18.67. 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, Inc. has a twelve month low of $14.19 and a twelve month high of $39.18.

Caris Life Sciences declared that its board has approved a share repurchase plan on Monday, June 8th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

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.