By Arasu Kannagi Basil and Pritam Biswas

June 16 (Reuters) - Cancer diagnostic firm Caris Life

Sciences on Monday raised the proposed price range for its New

York initial public offering, targeting a valuation of up to

$5.67 billion and indicating a strong demand for fresh stock

flotations.

The Irving, Texas-based company is marketing the IPO of

nearly 23.5 million shares between $19 and $20 apiece, compared

with its earlier range of $16 to $18 per share. The IPO will

raise $470.6 million at the higher end of the revised range.

"Underwriters don't corral a narrow band unless the

order book is thick enough to support it - otherwise they'd

leave wiggle room for last-minute indigestion," said Michael

Ashley Schulman, chief investment officer at Running Point

Capital.

U.S. IPOs have been showing signs of a sustained

revival, with some high-profile names delivering strong debuts

in recent weeks, after President Donald Trump's tariff

indecision dampened deal activity earlier this year.

Digital bank Chime's

shares surged 59%

during its Nasdaq debut last week, giving the company a

valuation of $18.4 billion.

Other big names such as Swedish fintech Klarna and

crypto exchange Gemini are currently in this year's IPO

pipeline.

Founded in 2008 by CEO David Halbert, Caris uses artificial

intelligence to study the genetic code from a patient's DNA, RNA

and proteins and create personalized cancer treatment plans.

The company has run more than 6.5 million tests in 849,000

cases and currently works with over 100 biopharma partners,

including Moderna ( MRNA ), and AbbVie ( ABBV ).

Caris raised $830 million at a $7.83 billion valuation in a

Sixth Street-led 2021 funding round. It is also backed by J.H.

Whitney, one of the oldest U.S. private equity firms.

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

are the lead underwriters for the offering.

Caris is expected to start trading on the Nasdaq on

Wednesday under the symbol 'CAI'.