Caris Life Sciences initiated with an Overweight at JPMorgan

JPMorgan analyst Rachel Vatnsdal initiated coverage of Caris Life Sciences (CAI) with an Overweight rating and $31 price target The firm says Caris is a leading diagnostics company focused on enabling precision medicine. The company’s whole exome sequencing and whole transcriptome sequencing technology targets significantly more genes than competitive assays, the analyst tells investors in a research note. JPMorgan believes Caris recently reached an inflection point with FDA approval of its tissue-based therapy selection assay.