Latest news with #CarisLifeSciences
Business Insider
2 days ago
- Business
- Business Insider
Cathie Wood's ARK Investment buys 52.5K shares of Caris Life Sciences today
20:46 EDT Cathie Wood's ARK Investment buys 52.5K shares of Caris Life Sciences (CAI) today Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
CNBC
2 days ago
- Automotive
- CNBC
Here are Monday's biggest analyst calls: Nvidia, Tesla, Rivian, Best Buy, Taiwan Semiconductor, Coinbase & more
Here are Monday's biggest calls on Wall Street: UBS reiterates Tesla as sell UBS said the stock remains overvalued. "We believe TSLA remains fundamentally overvalued, but the price reaction will depend on Musk's call comments." Bank of America initiates Caris Life Sciences as buy The firm said the biotech company has a "best in class financial profile." "Caris Life Sciences (CAI) is a molecular diagnostic company with a differentiated, data-driven platform for tissue-based tumor profiling." Goldman Sachs initiates Nebius Group as buy Goldman said the AI cloud company is well positioned. "We initiate on Nebius (NBIS), a leading player in the AI Neocloud market (a niche AI GPU infrastructure rental market), with a Buy rating and a 12-month price target of $68 implying c.45% upside" Citizens downgrades Goldman Sachs to market perform from market outperform The firm said in its downgrade of Goldman that the bull thesis has played out. "At $700+ today, we believe much of our thesis has played out and the bar is now much higher for another leg up. Accordingly, while we are bullish on the business, we see the risk/reward as balanced and we will evaluate for a new entry point or developments that change our valuation framework." Read more. Morgan Stanley initiates SPS Commerce as overweight Morgan Stanley said the retail solutions company is a share gainer. " SPS Commerce is best known for its market-leading Electronic Data Interchange (EDI) capabilities for retailers that are accentuated by one of the largest retail trading partner networks in the industry with over 500,000 trading connections." KeyBanc reiterates Nvidia as overweight KeyBanc said it's bullish on Nvidia's Blackwell chip. "The continued ramp of Blackwell and the initial ramp of Blackwell Ultra with higher ASPs [average selling price] should support continued upward estimate revisions." UBS upgrades American Axle to buy from neutral UBS said it sees an attractive risk/reward for the auto supplier. "Our thesis is based on: 1) A longer tail for core AXL programs such as GM's full-size truck/SUV platform amid a relaxed US emissions regulatory environment. 2) GM adding US capacity is a net positive for AXL that could boost outer year earnings power and is not yet in consensus numbers." UBS upgrades Visteon to buy from neutral UBS said shares of the auto supplier are compelling. "We are upgrading VC to Buy from Neutral and raising our PT to $142. Our call is based on: 1) seeing a true durable outgrowth story driven by increased penetration through diversifying and growing with new customers such as Toyota; 2) reasonable out-year expectations." Piper Sandler downgrades Best Buy to neutral from overweight Piper said it sees no "meaningful catalysts" ahead. "We are downgrading BBY to Neutral and reducing our PT to $75. Certainly, we recognized BBY has underperformed YTD, and both expectations and valuation are low." Baird upgrades nCino to outperform from neutral Baird said the fintech company is firing on all cylinders. " nCino is well underway on many initiatives, all aligned to reaccelerate subscription growth into DD% YoY range." Read more. Baird downgrades Henry Schein to neutral from outperform Baird said it's concerned the dental company could be losing a big customer. "Downgrading HSIC to Neutral/lowering price target to $72 on concerns HSIC's biggest global customer (Heartland Dental) may be looking to transition away from HSIC by year-end." Citizens initiates Hinge Health as market outperform Piper said the health company is well positioned. "We initiate coverage of Hinge Health , which is working to 'build a new health system,' with reduced costs for employers and improved experiences and outcomes for patients by utilizing tech to scale and automate the delivery of care, starting with physical therapy, with a Market Outperform rating and a $58 price target after the company's IPO at $32/ share on May 22." Piper Sandler downgrades Oscar Health to neutral from overweight Piper said it sees an unattractive risk/reward for the health company stock. "We downgrade OSCR from Overweight to Neutral and revise our PT to $14.00 (prior $18.00)." Guggenheim downgrades Rivian to neutral from buy Guggenheim said it's concerned about softening sales for the EV company. "We are updating numbers post- RIVN 2Q deliveries and lowering our rating to NEUTRAL from BUY to reflect softer long-term R2/R3 assumptions driven by both softer R1 sales and negative US Electric Vehicle and Emissions policy changes." Read more. Piper Sandler downgrades SoundHound to neutral from overweight Piper said it sees a tough setup for the AI company. "We are downgrading shares of SoundHound from OW to Neutral but reiterating our $12 price target." Evercore ISI initiates Guardant Health as outperform Evercore said the biotech company is well positioned for growth. "We are initiating coverage of Guardant Health (GH) with an Outperform rating and $60 PT (represents ~20% upside from current levels)." Raymond James upgrades Paymentus to outperform from market perform Raymond James said shares of the electronic bill payment company are attractive. "We are upgrading PAY to Outperform from Market Perform as we view the recent drawdown in the stock as a compelling buying opportunity." Wells Fargo upgrades Omega Health to overweight from equal weight Wells said shares of the health care company are attractive. "With an attractive valuation and investment pipeline opportunity set ahead, we are comfortable with OHI's risk-reward profile." Deutsche Bank upgrades Hyatt Hotels to buy from hold Deutsche said shares of the hotel company have more room to run. " Hyatt (upgrading to buy), given, what we believe remains the best catalyst path in lodging looking forward..." Evercore ISI downgrades Procter & Gamble to in line from outperform Evercore said it sees too many negative catalysts ahead. "Macro pressures are transient, and unlike prior downturns, Procter's portfolio now extends into mid-tier flanker brands in its price-sensitive categories, offering alternatives to pressured consumers." BTIG upgrades Synchrony & Bread Financial to buy from neutral BTIG said both consumer financial stocks have more room to run. "We think the share growth for BFH and SYF will come from both 1) their ability to loosen their already-tight underwriting as credit performance has strengthened, and 2) using the increased pricing implemented in 2024 to garner more share gains by going after a wider net of customers." Needham initiates Shopify as buy Needham said it likes the company's "durable growth." "We initiate coverage on Shopify with a Buy rating and $135 PT." William Blair upgrades Stitch Fix to outperform from market perform William Blair upgraded the stock following a series of constructive meetings with management. "We hosted meetings with Stitch Fix CEO Matt Baer and CFO David Aufderhaar. The company has increasingly been in a more offensive stance as it moves out of the second phase of Baer's restructuring strategy and into the 'growth' phase, embolden by a return to revenue growth in the April quarter, which was a year ahead of prior guidance." Morgan Stanley adds a catalyst driven idea on Taiwan Semiconductor The firm said it's bullish on the semis stock heading into earnings. "We expect TSMC' s share price to rise if it raises full-year revenue guidance. We suggest accumulating ahead of the July 17 print given low expectations." Morgan Stanley downgrades CrowdStrike to equal weight from overweight Morgan Stanley downgrades CrowdStrike on valuation. "Stepping to the sidelines given full valuation after ~50% run and rising growth expectations. Still a compelling long-term story, but the second half acceleration we expect now looks well priced in the shares." Argus initiates Coinbase as buy Argus said the crypto company is a market leader. "We are launching coverage of Coinbase Global Inc. with a BUY rating and a price target of $400."
Business Insider
3 days ago
- Business
- Business Insider
Caris Life Sciences initiated with a Buy at Guggenheim
Guggenheim analyst Subbu Nambi initiated coverage of Caris Life Sciences (CAI) with a Buy rating and $32 price target Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Forbes
25-06-2025
- Business
- Forbes
InnovationRx: Health Insurers Vow To Improve Prior Authorization (Again)
In this week's edition of InnovationRx, we look at efforts to improve prior authorization, commercializing Bell Labs' IP portfolio, a new billionaire from Caris Life Sciences' IPO, a big funding round for robots to do cataract surgery, and more. To get it in your inbox, subscribe here . AFP via Getty Images On Monday, representatives from multiple health insurance companies said they had pledged to the Department of Health and Human Services that they would improve their prior authorization procedures, the bureaucratic process required for them to pay for certain tests, medications or procedures. The insurers vowed to reduce the number of claims subject to prior authorization, standardize electronic requests for them and offer 90% of approvals in real time by 2027. This isn't the first time the industry has pledged to streamline the prior authorization process. Insurers made a similar pledge during the first Trump Administration in 2018, with some of those promises echoing language in the current announcement. When Centers for Medicare & Medicaid Services Administrator Mehmet Oz was asked at a press event why he thought this effort could work when others have failed, he replied that 'there is violence in the streets over these issues now,' presumably alluding to the murder of UnitedHealthcare CEO Brian Thompson last December. The technology is better now, too, he said, and the Administration plans to back the efforts with regulation. 'Either you fix it, or we'll fix it,' Oz told the insurance company execs. Bell Labs Is Commercializing Its Historic IP Portfolio, Starting With Healthcare Nishant Batra, Nokia's chief strategy and technology officer, has made commercializing Bell Labs' IP a priority. Nokia For decades, Bell Labs' research was legendary–an innovation factory that spawned transistors, lasers and solar cells. But its researchers were always better at ideas than commercialization. Even today, lots of patents and research ideas remain tucked away in its suburban New Jersey offices. Since joining Nokia in 2021, chief strategy and technology officer Nishant Batra has been working to change that. He told Forbes that when he kicked off the commercialization effort, he thought he could spin out two or three companies a year, but now thinks he may be able to do three to five. 'The world wouldn't exist without Bell Labs, but what Bell Labs does not do well is monetization,' Batra told Forbes. A big part of the effort to change that comes with a partnership with deep tech investor Celesta, which has $1.1 billion in assets under management and with whom Nokia has co-invested in the past. The two are scouring Bell Labs' IP portfolio for pieces of technology that might have commercial applications – and the first spinout is in healthcare. That first company, called Astranu, spun out in May with a small amount of seed funding, to apply Bell Labs' imaging technology known as integrated optical coherence tomography to diagnostics of middle ear conditions. It ultimately hopes to transform ear diagnostic care with advanced, non-invasive, high-resolution 3D imaging by reducing the need for exploratory surgery and expensive MRIs 'We built this technology for optical use, for communications,' Batra said. But as Bell Labs' researchers and Celesta's investors analyzed the technology, they realized what was built for communications could be applied to creating an accurate, handheld test for the middle ear. 'Our researchers on optical said, 'this is a good application,' and our friends at Celesta said, 'we can take this to market with you,'' Batra said. Most of this hidden-away IP won't be healthcare-related, but it's intriguing that the first company to launch from the Bell Labs' portfolio is, which not only shows the breadth of its research applications, but also how many technology innovations can be adapted to help patients. 'We call it 'bioconvergence,'' said Celesta's founding managing partner Sriram Viswanathan, noting how miniaturization of technology could be extremely helpful for medical applications. 'It's the intersection of advanced AI and semiconductor-related technologies as it applies to life sciences and biotech. Think about it as diagnostics more than therapeutics….There are so many applications in the healthcare area that we see this as a natural.' BIOTECH AND PHARMA Drugmaker Novo Nordisk said on Monday that it was ending its arrangement to sell its weight-loss drug, Wegovy, through telehealth provider Hims & Hers. The pharmaceutical company accused Hims & Hers of using 'deceptive marketing' to sell knockoff versions of its drug in a statement. The stock price of Hims & Hers collapsed shortly after the announcement, cutting its market capitalization by nearly one-third to a recent $9.6 billion, pummeling the fortune of cofounder and CEO Andrew Dudum , who is no longer a billionaire. Plus : A study published in the Journal of Immunology identified a biomarker that helps predict whether colorectal patients will respond to treatment using cytokine-induced killer cells. DIGITAL HEALTH AND AI Last week, precision medicine company Caris Life Sciences went public, minting a new billionaire in founder David Dean Halbert. At the company's recent market cap of $7.4 billion, Halbert is worth at least $3.3 billion by Forbes calculations. He owns nearly 44% of the company. 'I fundamentally believed that if there was something wrong with the human body, there was something misfiring at the molecular level and technology advances could find that and diagnose it and possibly treat it,' Halbert told Forbes. Read more here. Plus : Medical scribing startup Abridge reached a valuation of $5.3 billion after raising $300 million in venture funding led by Andreessen Horowitz. The Pittsburgh-based company has surged as doctors and health systems have adopted ambient listening apps, and the new valuation is nearly double the $2.75 billion it was worth when it last raised funds in February. Cofounder and CEO Shiv Rao told Forbes that he 'wasn't surprised per se' by the new valuation because of how quickly AI is changing the way companies operate. Abridge is expanding from using ambient listening to improve the doctor-patient relationship to using the technology to help health systems with their billing and coding. 'Why we have raised capital and invested so heavily in R&D is that we are taking our models to revenue school and risk-adjustment school,' he said. MEDTECH Cataract surgery is one of the world's most common medical procedures, with more than 4 million of them done each year in the United States alone, but there simply aren't enough doctors available to meet the demand for everyone who needs the surgery. Enter robotics. An Israeli startup is betting that robots can ultimately do it better and cheaper than human doctors. ForSight Robotics on Tuesday said it had raised $125 million led by Eclipse Ventures to expand its robotic platform, called Oryom, which it says is the world's first for cataracts and other eye diseases. The funding represents one of the largest investments in a surgical robotics startup, and brings ForSight's total investment to $195 million. 'At first people were intimidated by robotics' advancement,' Dr. Joseph Nathan, ForSight's cofounder, president and chief medical officer, told Forbes. 'Now they are seeing robotics as the things that will get them the best outcomes.' Read more here. PUBLIC HEALTH AND HOSPITALS The CDC's Advisory Committee on Immunization Practices (ACIP), which makes recommendations for vaccine practices, is scheduled to meet today and tomorrow to discuss vaccines for COVID-19, flu and RSV. Senator Bill Cassidy, R-La., a physician who chairs the Health, Education, Labor and Pensions Committee, called for the panel to be delayed, citing the lack of expertise among the new appointees of HHS Secretary Robert F. Kennedy Jr. and the fact that it includes fewer members than is typical. RFK Jr. purged the vaccine advisory committee earlier this of the committee's new members have expressed skepticism about vaccines, in keeping with his own views. But a new poll from the Harvard Opinion Research Program found these attitudes to be out-of-step with the vast majority of Americans. The survey found that 79% of Americans believe that parents should be required to vaccinate their children in order to attend school, and that even among Republicans 66% held this view. Among the remainder who didn't support mandatory vaccinations, 60% believed vaccines to be safe and effective–they just prefer to leave the choice up to parents. Plus : The American Cancer Society released the latest version of its Cancer Atlas today, which found that "an estimated 50% of all cancer deaths worldwide are attributed to modifiable risk factors" and urged public health officials to accordingly focus on prevention. WHAT WE'RE READING People with severe diabetes were cured in a small trial of a new stem cell-based infusion from Vertex Pharmaceuticals. The GOP is pushing Medicaid work requirements even though similar efforts in Georgia and Arkansas have fallen flat. Changes at federal health agencies leave experts concerned that the U.S. is in worse shape to handle a new pandemic than it was before 2020. Researchers say that their studies were misrepresented by Health and Human Services to unjustifiably support anti-vaccine conclusions in a memo to Congress. Arine, which has developed an AI-powered platform for medication management, raised $30 million in venture funding led by Town Hall Ventures. A new flu drug could be better than a vaccine. In a small phase 2 study, a drug developed by Cidara Therapeutics offered 76.1% protection against catching the flu versus a placebo, higher protection than many flu vaccines. MORE FROM FORBES Forbes The 36 Colleges Most At Risk From Pell Grant Cuts By Fiona Riley Forbes US And Israel Should Prepare For Destructive Iranian Cyberattacks, Ex-Intel Officer Says By Thomas Brewster Forbes How New Balance Went From 'Dad Shoe' To Scoring The No. 1 NBA Draft Prospect By Justin Birnbaum
Yahoo
25-06-2025
- Business
- Yahoo
Should You Buy Caris Life Sciences Stock After the CAI IPO?
Initial public offerings (IPOs) just keep on coming in 2025 and they continue to remain in heavy demand. Companies have already raised about $25.4 billion through IPOs so far this year, exceeding the $18.2 billion raised in the same period in 2024. One of the latest companies to hit the public market is Caris Life Sciences (CAI). Pricing its IPO at $21 per share, Caris ended up debuting far above its initial estimates. Is Tesla a Buy or Sell as TSLA Stock Zooms on Austin Robotaxi Launch? These 3 Stocks Have Been Hot in 2025. Should You Sell Them Now Before It's Too Late? The 7 Signs Your Stock Is A Buyout Target Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! Founded in 2008, Texas-based Caris Life Sciences is a precision medicine and molecular diagnostics company focused primarily on cancer. It uses genomic, transcriptomic, and proteomic data from patient tissue and blood samples to guide personalized treatment decisions and drug development. The company issued about 23.5 million shares, raising about $494.1 million in gross proceeds. The company intends to use the net proceeds from this offering for general corporate purposes, including working capital, operating expenses, and capital expenditures. How do Caris Life Sciences' prospects compare to other recently listed health tech companies such as Omada Health and Hinge Health? Let's have a closer look. The global oncology market is projected to be worth $903.8 billion by 2034, with the U.S. alone expected to account for $416.9 billion. And Caris Life Sciences, with its expertise in precision medicine and molecular diagnostics, is anticipated to play a critical role in addressing this demand. Caris Life Sciences is undergoing an aggressive expansion phase, combining advances in artificial intelligence with deep molecular insights to drive the evolution of personalized medicine. At the heart of this effort lies the proprietary Caris Platform, a data-rich system built on the principle that greater volumes of molecular information can unlock answers to previously unresolved clinical questions. As of the end of March 2025, the company had completed over 6.5 million individual tests across more than 849,000 patient cases, resulting in the identification and measurement of upwards of 38 billion distinct molecular markers. During the full year 2024 alone, Caris processed roughly 163,000 clinical cases, underscoring the platform's growing scale and relevance. Further, Caris has cultivated relationships with more than 100 pharmaceutical and biotechnology companies, including leading names like Merck (MRK) and AbbVie (ABBV). These partners draw upon Caris' technology not just to inform the development of personalized therapies, but also to support early stage detection of disease, ongoing treatment monitoring, and a suite of data-driven services. A pivotal product in this effort is Caris Assure, a next-generation blood-based diagnostic tool aimed at detecting cancers through non-invasive means. This test received regulatory clearance from the FDA in the opening quarter of 2024, adding further validation to its potential. Looking ahead, the company's expansion strategy centers on driving broader adoption of the Caris Assure test, commercializing its extensive repository of de-identified clinico-genomic data for biopharma applications, and broadening its focus beyond oncology. With plans to extend its platform's capabilities to cover cardiovascular, neurological, and other complex diseases, Caris is positioning itself at the intersection of precision diagnostics and data-driven healthcare innovation. For a company operating in a rapidly growing market such as Caris Life Sciences, unprofitability is common. However, what is desired is a clear path toward profitability. Between 2019 and 2024, the company's revenues have grown at a CAGR of 28% to reach $412.3 million last year from $120.5 million in 2019. Net losses narrowed to $281.9 million from $341.4 million in 2023. Sales from molecular profiling services make up the bulk of the revenues, accounting for $349.1 million in 2024, up 25.2% from the previous year. Pharma research and development services revenues made up the rest at $63.1 million, growing by an impressive rate of 130.6% on a YoY basis. Net cash used in operating activities also trimmed to $245.2 million (vs $276.1 million in 2023) while free cash outflow also reduced to $8.4 million from $22.3 million in the year-ago period. This reflects improvement in the cash management of the company. Overall, as of March 31, 2025, Caris had a cash and equivalents balance of $33.4 million, considerably lower than its total debt levels of $400 million. Coming to the most recent quarter, Q1 2025 saw the company's revenue rise by 50% on a yearly basis to $120.9 million, accompanied by a reduction in losses to $102.6 million from $111 million in Q1 2024. Molecular profiling services revenues and pharama research and development services revenues were at $114.1 million (+55.8% YoY) and $6.8 million (-8.2% YoY), respectively. Caris integrates machine learning, advanced genomic sequencing, cloud-based infrastructure, and the analysis of massive molecular datasets to tailor treatment strategies for individual cancer patients. This convergence of technologies presents significant promise for transforming patient outcomes and advancing precision medicine in oncology. That said, the company's substantial debt obligations and continued lack of profitability remain notable challenges. Heightened competition also makes the path to profitability more difficult. Still, the consistent growth in revenue and gradual reduction in net losses provide encouraging signs of financial progress amid its ongoing scale-up. On the date of publication, Pathikrit Bose did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
