Caris Life Sciences (NASDAQ:CAI) Stock Price Down 6.9% – Here’s Why

Caris Life Sciences, Inc. (NASDAQ:CAI)’s share price traded down 6.9% during trading on Friday . The company traded as low as $18.15 and last traded at $17.8670. 668,318 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 2,504,508 shares. The stock had previously closed at $19.20.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. The Goldman Sachs Group assumed coverage on Caris Life Sciences in a research note on Wednesday, April 1st. They issued a “buy” rating and a $27.00 price objective for the company. Weiss Ratings reissued a “sell (d)” rating on shares of Caris Life Sciences in a research note on Monday, December 29th. Robert W. Baird raised their price objective on Caris Life Sciences from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Piper Sandler assumed coverage on Caris Life Sciences in a research note on Friday. They issued a “neutral” rating and a $21.00 price objective for the company. Finally, Wall Street Zen raised Caris Life Sciences from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Caris Life Sciences presently has an average rating of “Hold” and an average target price of $29.00.

Caris Life Sciences Price Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 7.35 and a current ratio of 7.85. The firm’s fifty day moving average is $19.55. The company has a market cap of $5.11 billion and a P/E ratio of -100.37.

Caris Life Sciences (NASDAQ:CAI) last posted its earnings results on Thursday, February 26th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.27. The company had revenue of $292.89 million during the quarter, compared to the consensus estimate of $281.00 million. During the same quarter in the prior year, the business earned ($1.73) EPS. The firm’s revenue for the quarter was up 125.4% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CAI. Global Retirement Partners LLC lifted its holdings in shares of Caris Life Sciences by 99,900.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 999 shares in the last quarter. Olistico Wealth LLC bought a new position in shares of Caris Life Sciences in the fourth quarter valued at approximately $31,000. MetLife Investment Management LLC lifted its holdings in shares of Caris Life Sciences by 84.0% in the fourth quarter. MetLife Investment Management LLC now owns 1,654 shares of the company’s stock valued at $45,000 after purchasing an additional 755 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Caris Life Sciences in the fourth quarter valued at approximately $67,000. Finally, Federated Hermes Inc. bought a new position in shares of Caris Life Sciences in the fourth quarter valued at approximately $81,000.

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.