Caris Life Sciences initiated with a Hold at Canaccord

Canaccord initiated coverage of Caris Life Sciences (CAI) with a Hold rating and $28 price target The company is well positioned in the precision oncology landscape with a “differentiated” multi-modal platform and early traction in both tissue- and blood-based therapy selection, the analyst tells investors in a research note. However, the firm thinks the stock’s current valuation captures much of Caris Life’s growth trajectory in therapy selection.