The Manufacturers Life Insurance Company Has $2.75 Million Holdings in Caris Life Sciences, Inc. $CAI

The Manufacturers Life Insurance Company lifted its stake in Caris Life Sciences, Inc. (NASDAQ:CAI) by 50.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 153,512 shares of the company’s stock after acquiring an additional 51,696 shares during the period. The Manufacturers Life Insurance Company’s holdings in Caris Life Sciences were worth $2,745,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. PointState Capital LP boosted its holdings in Caris Life Sciences by 73.0% in the 4th quarter. PointState Capital LP now owns 6,718,707 shares of the company’s stock valued at $181,271,000 after purchasing an additional 2,834,986 shares during the period. UBS Group AG increased its holdings in shares of Caris Life Sciences by 825.9% during the 4th quarter. UBS Group AG now owns 2,183,980 shares of the company’s stock worth $58,924,000 after purchasing an additional 1,948,107 shares during the period. Balyasny Asset Management L.P. increased its holdings in shares of Caris Life Sciences by 23,902.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,660,280 shares of the company’s stock worth $44,794,000 after purchasing an additional 1,653,363 shares during the period. JPMorgan Chase & Co. raised its position in shares of Caris Life Sciences by 185.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,445,281 shares of the company’s stock valued at $65,974,000 after buying an additional 1,587,176 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in shares of Caris Life Sciences by 14.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,205,959 shares of the company’s stock valued at $248,377,000 after buying an additional 1,180,200 shares during the period.

Analyst Upgrades and Downgrades

CAI has been the topic of a number of recent research reports. Citigroup decreased their target price 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. Evercore reiterated an “outperform” rating and issued a $26.00 price objective on shares of Caris Life Sciences in a research report on Thursday. Jefferies Financial Group started coverage on Caris Life Sciences in a report on Monday, April 13th. They set a “buy” rating and a $28.00 price objective on the stock. Weiss Ratings upgraded Caris Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Finally, Robert W. Baird set a $22.00 target price on Caris Life Sciences in a research report on Friday, May 8th. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Caris Life Sciences presently has an average rating of “Moderate Buy” and an average price target of $26.33.

Caris Life Sciences Stock Performance

NASDAQ:CAI opened at $22.74 on Friday. The firm has a market capitalization of $6.43 billion, a PE ratio of 63.17 and a beta of 0.68. The company has a quick ratio of 6.52, a current ratio of 5.53 and a debt-to-equity ratio of 0.66. Caris Life Sciences, Inc. has a 12-month low of $14.19 and a 12-month high of $42.50. The firm has a 50-day moving average price of $17.22 and a 200 day moving average price of $18.76.

Caris Life Sciences announced that its Board of Directors has initiated a share repurchase program on Monday, June 8th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to buy up to 2.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Caris Life Sciences

In related news, Director Jon Halbert bought 68,000 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was acquired at an average cost of $14.56 per share, with a total value of $990,080.00. Following the acquisition, the director owned 704,598 shares in the company, valued at approximately $10,258,946.88. This represents a 10.68% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeff L. Vacirca bought 31,050 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $16.15 per share, with a total value of $501,457.50. Following the transaction, the director directly owned 49,671 shares in the company, valued at $802,186.65. This trade represents a 166.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 50.00% of the company’s stock.

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.