Caris Life Sciences (NASDAQ:CAI) Downgraded to Hold Rating by Wall Street Zen

Caris Life Sciences (NASDAQ:CAI) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

CAI has been the subject of a number of other research reports. Robert W. Baird assumed coverage on shares of Caris Life Sciences in a report on Tuesday. They set an “outperform” rating and a $26.00 price target for the company. Evercore set a $38.00 price objective on Caris Life Sciences in a research report on Monday, January 5th. Canaccord Genuity Group lifted their target price on Caris Life Sciences from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, December 22nd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Caris Life Sciences in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $31.33.

Caris Life Sciences Trading Down 6.3%

Caris Life Sciences stock opened at $19.53 on Friday. The company has a current ratio of 9.93, a quick ratio of 9.36 and a debt-to-equity ratio of 0.79. The stock’s 50-day moving average price is $25.30. Caris Life Sciences has a 12-month low of $18.76 and a 12-month high of $42.50. The firm has a market capitalization of $5.51 billion and a PE ratio of -42.46.

Insider Buying and Selling

In other Caris Life Sciences news, insider Luke Thomas Power sold 62,250 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $26.58, for a total transaction of $1,654,605.00. Following the transaction, the insider directly owned 99,571 shares in the company, valued at $2,646,597.18. This represents a 38.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Caris Life Sciences

Several institutional investors have recently modified their holdings of CAI. PointState Capital LP increased its position in shares of Caris Life Sciences by 73.0% during the fourth quarter. PointState Capital LP now owns 6,718,707 shares of the company’s stock worth $181,271,000 after acquiring an additional 2,834,986 shares during the period. UBS Group AG increased its holdings in 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. raised its position in Caris Life Sciences by 23,902.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,660,280 shares of the company’s stock valued at $44,794,000 after purchasing an additional 1,653,363 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Caris Life Sciences by 185.0% in the 4th 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 period. Finally, T. Rowe Price Investment Management Inc. grew its position in shares of Caris Life Sciences by 14.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,205,959 shares of the company’s stock worth $248,377,000 after buying an additional 1,180,200 shares in the last quarter.

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.