Canaccord Genuity Group Issues Pessimistic Forecast for Caris Life Sciences (NASDAQ:CAI) Stock Price

Caris Life Sciences (NASDAQ:CAI) had its price target dropped by investment analysts at Canaccord Genuity Group from $30.00 to $22.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 21.21% from the company’s current price.

CAI has been the subject of a number of other reports. Wall Street Zen upgraded shares of Caris Life Sciences from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Robert W. Baird boosted their price objective on Caris Life Sciences from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Evercore set a $38.00 target price on Caris Life Sciences in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Caris Life Sciences in a report on Monday, December 29th. Finally, BTIG Research cut their price target on Caris Life Sciences from $45.00 to $38.00 and set a “buy” rating for the company in a report on Friday, February 27th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $31.50.

Caris Life Sciences Trading Up 2.6%

Shares of Caris Life Sciences stock opened at $18.15 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 7.85 and a quick ratio of 7.35. The business has a fifty day moving average price of $22.67. The firm has a market capitalization of $5.13 billion and a PE ratio of -100.83. Caris Life Sciences has a 1-year low of $17.15 and a 1-year high of $42.50.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Global Retirement Partners LLC grew its position 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 buying an additional 999 shares in the last quarter. Olistico Wealth LLC acquired a new position in Caris Life Sciences in the 4th quarter valued at approximately $31,000. MetLife Investment Management LLC raised its holdings in Caris Life Sciences by 84.0% in the 4th quarter. MetLife Investment Management LLC now owns 1,654 shares of the company’s stock valued at $45,000 after acquiring an additional 755 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Caris Life Sciences in the 4th quarter worth approximately $67,000. Finally, Federated Hermes Inc. acquired a new stake in shares of Caris Life Sciences during the 4th quarter worth approximately $81,000.

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.