Wall Street Zen Upgrades Caris Life Sciences (NASDAQ:CAI) to Buy

Caris Life Sciences (NASDAQ:CAI) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other research analysts also recently commented on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Caris Life Sciences in a research report on Monday, December 29th. Evercore set a $38.00 price objective on Caris Life Sciences in a report on Monday, January 5th. BTIG Research dropped their price objective on shares of Caris Life Sciences from $45.00 to $38.00 and set a “buy” rating for the company in a report on Friday, February 27th. Robert W. Baird upped their price target on shares of Caris Life Sciences from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Finally, Canaccord Genuity Group raised their target price on shares of Caris Life Sciences from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, December 22nd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $33.50.

Caris Life Sciences Price Performance

NASDAQ CAI opened at $18.59 on Friday. Caris Life Sciences has a fifty-two week low of $17.15 and a fifty-two week high of $42.50. The company’s 50-day moving average is $23.55. The company has a market capitalization of $5.25 billion and a price-to-earnings ratio of -103.28. The company has a current ratio of 7.85, a quick ratio of 9.36 and a debt-to-equity ratio of 0.66.

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, topping the consensus estimate of $0.01 by $0.27. The company had revenue of $292.89 million during the quarter, compared to analyst estimates of $281.00 million. The firm’s revenue for the quarter was up 125.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.73) earnings per share.

Insider Transactions at Caris Life Sciences

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 shares were sold at an average price of $26.58, for a total value of $1,654,605.00. Following the transaction, the insider directly owned 99,571 shares in the company, valued at $2,646,597.18. The trade was 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 this hyperlink. 7.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. MetLife Investment Management LLC increased its position 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 worth $45,000 after purchasing an additional 755 shares during the period. Global Retirement Partners LLC lifted its stake in Caris Life Sciences by 99,900.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,000 shares of the company’s stock worth $27,000 after purchasing an additional 999 shares during the last quarter. Olistico Wealth LLC acquired a new stake in shares of Caris Life Sciences in the 4th quarter valued at $31,000. Police & Firemen s Retirement System of New Jersey increased its stake in shares of Caris Life Sciences by 15.0% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 11,932 shares of the company’s stock valued at $322,000 after purchasing an additional 1,560 shares during the last quarter. Finally, PEAK6 LLC raised its holdings in shares of Caris Life Sciences by 6.9% during the 4th quarter. PEAK6 LLC now owns 24,800 shares of the company’s stock worth $669,000 after buying an additional 1,600 shares in the last quarter.

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.