Canaccord Genuity Group Forecasts Strong Price Appreciation for Caris Life Sciences (NASDAQ:CAI) Stock

by · The Markets Daily

Caris Life Sciences (NASDAQ:CAI – Get Free Report) had its price target boosted by Canaccord Genuity Group from $22.00 to $30.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential downside of 1.83% from the company’s current price.

A number of other research analysts also recently weighed in on the company. Weiss Ratings downgraded Caris Life Sciences from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, October 2nd. Wall Street Zen raised Caris Life Sciences from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. TD Cowen increased their price objective on Caris Life Sciences from $30.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, October 13th. UBS Group assumed coverage on shares of Caris Life Sciences in a research note on Wednesday, September 9th. They issued a “neutral” rating and a $28.00 target price for the company. Finally, Evercore restated an “outperform” rating and set a $26.00 target price on shares of Caris Life Sciences in a report on Thursday, August 6th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.55.

Check Out Our Latest Report on CAI

Caris Life Sciences Stock Performance

CAI opened at $30.56 on Monday. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of 84.89 and a beta of 0.86. The business’s 50-day moving average price is $27.12 and its two-hundred day moving average price is $20.95. Caris Life Sciences has a 1 year low of $14.19 and a 1 year high of $33.13. The company has a debt-to-equity ratio of 0.66, a current ratio of 5.53 and a quick ratio of 4.88.

Insider Buying and Selling

In related news, insider John Russel Denton sold 7,500 shares of the business’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $31.82, for a total value of $238,650.00. Following the completion of the transaction, the insider owned 174,855 shares of the company’s stock, valued at $5,563,886.10. The trade was a 4.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President David Spetzler sold 478,000 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $24.86, for a total transaction of $11,883,080.00. Following the sale, the president directly owned 1,052,083 shares of the company’s stock, valued at $26,154,783.38. This represents a 31.24% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 1,004,712 shares of company stock valued at $27,205,419. 50.00% of the stock is owned by company insiders.

Institutional Trading of Caris Life Sciences

Institutional investors and hedge funds have recently modified their holdings of the business. IFP Advisors Inc grew its holdings in shares of Caris Life Sciences by 143,800.0% during the 3rd quarter. IFP Advisors Inc now owns 4,317 shares of the company’s stock valued at $132,000 after purchasing an additional 4,314 shares during the last quarter. Curated Wealth Partners LLC acquired a new position in Caris Life Sciences during the 3rd quarter worth approximately $261,000. Krilogy Financial LLC acquired a new position in Caris Life Sciences during the 3rd quarter worth approximately $746,000. NorthCrest Asset Manangement LLC bought a new position in Caris Life Sciences in the 3rd quarter valued at approximately $529,000. Finally, GAMMA Investing LLC lifted its stake in Caris Life Sciences by 133.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,263 shares of the company’s stock valued at $39,000 after purchasing an additional 721 shares during the last quarter.

About Caris Life Sciences

(Get Free Report)

Caris Life Sciences is a biotechnology company focused on precision oncology and the use of molecular and artificial intelligence technologies to support cancer diagnosis and treatment decisions. The company analyzes tumor and blood samples to identify genetic, molecular and other biological characteristics that may help physicians select targeted therapies and develop individualized treatment plans.

Its offerings include comprehensive tumor profiling, molecular testing and data-driven clinical support for oncologists and other healthcare providers.

Further Reading