Handelsbanken Fonder AB Purchases Shares of 36,300 Caris Life Sciences, Inc. $CAI

Handelsbanken Fonder AB acquired a new position in shares of Caris Life Sciences, Inc. (NASDAQ:CAI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 36,300 shares of the company’s stock, valued at approximately $647,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Amundi bought a new position in Caris Life Sciences during the first quarter worth about $375,000. California State Teachers Retirement System grew its stake in shares of Caris Life Sciences by 254.5% in the 1st quarter. California State Teachers Retirement System now owns 5,002 shares of the company’s stock valued at $89,000 after purchasing an additional 3,591 shares during the period. Royal Bank of Canada grew its stake in shares of Caris Life Sciences by 101.8% in the 1st quarter. Royal Bank of Canada now owns 18,651 shares of the company’s stock valued at $333,000 after purchasing an additional 9,407 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Caris Life Sciences by 50.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 153,512 shares of the company’s stock worth $2,745,000 after buying an additional 51,696 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its position in shares of Caris Life Sciences by 117.0% during the 1st quarter. Quantinno Capital Management LP now owns 140,909 shares of the company’s stock worth $2,519,000 after buying an additional 75,987 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CAI. BTIG Research upped their price target 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. Evercore reissued an “outperform” rating and set a $26.00 price objective on shares of Caris Life Sciences in a report on Thursday, August 6th. Robert W. Baird set a $22.00 target price on shares of Caris Life Sciences in a research note on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caris Life Sciences in a report on Friday, August 7th. Finally, 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. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.33.

Caris Life Sciences Stock Performance

Shares of NASDAQ:CAI opened at $24.58 on Friday. Caris Life Sciences, Inc. has a twelve month low of $14.19 and a twelve month high of $42.50. The firm has a market cap of $6.95 billion, a PE ratio of 68.28 and a beta of 0.68. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.88 and a current ratio of 5.53. The business has a fifty day moving average of $18.27 and a 200-day moving average of $18.52.

Caris Life Sciences declared that its Board of Directors has authorized a share buyback program on Monday, June 8th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Caris Life Sciences Company Profile

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.