Braidwell LP Buys 246,585 Shares of Caris Life Sciences, Inc. $CAI

Braidwell LP grew its stake in shares of Caris Life Sciences, Inc. (NASDAQ:CAI) by 3.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,256,032 shares of the company’s stock after buying an additional 246,585 shares during the quarter. Caris Life Sciences makes up 5.5% of Braidwell LP’s holdings, making the stock its biggest holding. Braidwell LP’s holdings in Caris Life Sciences were worth $147,122,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Global Retirement Partners LLC lifted its stake in shares of Caris Life Sciences by 99,900.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,000 shares of the company’s stock valued at $27,000 after acquiring an additional 999 shares during the last quarter. PNC Financial Services Group Inc. grew its position in 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 worth $29,000 after acquiring an additional 1,469 shares during the last quarter. Fifth Third Bancorp acquired a new position in Caris Life Sciences in the 1st quarter worth about $31,000. Sterling Capital Management LLC raised its position in Caris Life Sciences by 128.3% in the first quarter. Sterling Capital Management LLC now owns 1,927 shares of the company’s stock valued at $34,000 after purchasing an additional 1,083 shares during the last quarter. Finally, Trifecta Capital Advisors LLC bought a new position in Caris Life Sciences in the second quarter valued at about $37,000.

Caris Life Sciences Price Performance

Shares of CAI opened at $24.80 on Thursday. The business has a 50-day moving average of $19.71 and a 200-day moving average of $18.77. 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 company has a market capitalization of $7.01 billion, a price-to-earnings ratio of 68.89 and a beta of 1.10. Caris Life Sciences, Inc. has a 1 year low of $14.19 and a 1 year high of $37.42.

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

Analyst Ratings Changes

Several research firms have recently weighed in on CAI. Weiss Ratings upgraded Caris Life Sciences from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 21st. Wall Street Zen upgraded shares of Caris Life Sciences from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. Citigroup cut their target price 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. Wolfe Research cut shares of Caris Life Sciences from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 1st. Finally, New Street Research assumed coverage on shares of Caris Life Sciences in a research note on Friday, May 8th. They set a “market perform” rating for the company. 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 company. According to data from MarketBeat, the stock currently 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.