Caris Life Sciences (NASDAQ:CAI) Given New $36.00 Price Target at Citigroup

Caris Life Sciences (NASDAQ:CAI) had its target price lifted by equities researchers at Citigroup from $28.00 to $36.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup‘s price target would indicate a potential upside of 42.69% from the stock’s current price.

Several other research analysts also recently commented on the company. Canaccord Genuity Group boosted their target price on Caris Life Sciences from $22.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, October 19th. TD Cowen raised their price target on Caris Life Sciences from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday. BTIG Research reiterated a “buy” rating and issued a $38.00 price objective on shares of Caris Life Sciences in a research report on Thursday. Evercore reissued an “outperform” rating and issued a $26.00 price objective on shares of Caris Life Sciences in a research note on Thursday, August 6th. Finally, UBS Group set a $38.00 target price on Caris Life Sciences in a report on Thursday. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Caris Life Sciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.82.

Caris Life Sciences Price Performance

CAI stock traded down $0.80 during trading on Friday, hitting $25.23. 10,229,969 shares of the stock traded hands, compared to its average volume of 3,451,045. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 76.45 and a beta of 0.71. Caris Life Sciences has a one year low of $14.19 and a one year high of $36.50. The company has a current ratio of 5.53, a quick ratio of 4.88 and a debt-to-equity ratio of 0.66. The company has a 50 day simple moving average of $29.50 and a 200 day simple moving average of $21.74.

Caris Life Sciences (NASDAQ:CAI) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. The firm had revenue of $275.36 million for the quarter. Caris Life Sciences had a net margin of 9.16% and a return on equity of 16.35%. Caris Life Sciences’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.08 earnings per share. Equities analysts expect that Caris Life Sciences will post 0.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other Caris Life Sciences news, insider John Russel Denton sold 7,500 shares of the stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $31.82, for a total value of $238,650.00. Following the transaction, the insider directly owned 174,855 shares in the company, valued at approximately $5,563,886.10. This trade represents a 4.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President David Spetzler sold 478,000 shares of Caris Life Sciences stock in a transaction 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 of the company’s stock, valued at $26,154,783.38. This trade represents a 31.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, 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.

Institutional Trading of Caris Life Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its position in shares of Caris Life Sciences by 36.4% during the 1st quarter. Renaissance Technologies LLC now owns 449,900 shares of the company’s stock worth $8,044,000 after buying an additional 120,000 shares during the period. Maxi Investments CY Ltd acquired a new stake in shares of Caris Life Sciences in the 2nd quarter valued at approximately $3,754,000. Moore Capital Management LP acquired a new stake in shares of Caris Life Sciences in the 2nd quarter valued at approximately $1,139,000. Sei Investments Co. boosted its stake in Caris Life Sciences by 2,348.6% during the 1st quarter. Sei Investments Co. now owns 598,712 shares of the company’s stock worth $10,705,000 after acquiring an additional 574,261 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in Caris Life Sciences during the 2nd quarter worth approximately $848,000.

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.