Caris Life Sciences (NASDAQ:CAI) Stock Gets Price Target Bump from Canaccord Genuity Group

Caris Life Sciences (NASDAQ:CAI) had its price target upped by research analysts at Canaccord Genuity Group from $22.00 to $30.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target points to a potential downside of 3.57% from the stock’s previous close.

A number of other research firms have also recently commented on CAI. UBS Group assumed coverage on Caris Life Sciences in a research note on Wednesday, September 9th. They issued a “neutral” rating and a $28.00 target price on the stock. Weiss Ratings lowered Caris Life Sciences from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, October 2nd. Evercore reaffirmed an “outperform” rating and set a $26.00 price target on shares of Caris Life Sciences in a research note on Thursday, August 6th. Wall Street Zen upgraded Caris Life Sciences from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. Finally, BTIG Research increased their price objective on Caris Life Sciences from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $28.55.

Caris Life Sciences Stock Performance

NASDAQ CAI opened at $31.11 on Monday. Caris Life Sciences has a 52-week low of $14.19 and a 52-week high of $33.13. The company has a fifty day moving average of $27.42 and a 200-day moving average of $21.13. The company has a market capitalization of $8.79 billion, a P/E ratio of 85.31 and a beta of 0.86. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.88 and a current ratio of 5.53.

Insiders Place Their Bets

In other news, President David Spetzler sold 478,000 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $24.86, for a total value of $11,883,080.00. Following the completion of the sale, the president directly owned 1,052,083 shares in the company, valued at approximately $26,154,783.38. The trade was a 31.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Russel Denton sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $31.82, for a total transaction of $238,650.00. Following the completion of the sale, the insider owned 174,855 shares of the company’s stock, valued at approximately $5,563,886.10. The trade was a 4.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,004,712 shares of company stock valued at $27,205,419. 50.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Caris Life Sciences

A number of large investors have recently added to or reduced their stakes in the business. PointState Capital LP bought a new position in Caris Life Sciences during the 2nd quarter worth approximately $121,690,000. BlackRock Inc. purchased a new position in Caris Life Sciences in the 2nd quarter worth approximately $98,666,000. Canada Pension Plan Investment Board bought a new stake in Caris Life Sciences in the second quarter valued at approximately $24,502,000. Bank of America Corp DE bought a new stake in Caris Life Sciences in the second quarter valued at approximately $21,395,000. Finally, Amundi grew its holdings in shares of Caris Life Sciences by 5,709.5% in the second quarter. Amundi now owns 1,218,364 shares of the company’s stock worth $21,711,000 after purchasing an additional 1,197,392 shares during the last quarter.

About Caris Life Sciences

Caris Life Sciences is a biotechnology and precision-medicine company that uses molecular profiling and artificial intelligence to support cancer diagnosis, treatment selection and drug development. The company analyzes tumor and blood samples to identify genomic, molecular and immune characteristics that may help physicians better understand a patient’s disease and select targeted therapies.

Its offerings include comprehensive tumor profiling, liquid-biopsy testing and data-driven clinical decision-support tools.