June 9 (Reuters) - Cancer diagnostic firm Caris Life

Sciences said on Monday it is targeting a valuation of up to

$5.35 billion in its initial public offering in the United

States.

Irving, Texas-based Caris plans to raise up to $424 million

by offering 23.5 million shares priced between $16 and $18

apiece.

The IPO market is heating up as high-profile companies move

ahead with their stock market listings in a calmer period after

tariff-related volatility stifled deal activity earlier this

year.

In 2021, Caris raised $830 million at a $7.83 billion

valuation in a funding round led by investment firm Sixth

Street.

Caris will trade on the Nasdaq under the symbol "CAI."

BofA Securities, J.P. Morgan, Goldman Sachs, and Citigroup

are the lead underwriters for the offering.