Caribou Biosciences (NASDAQ:CRBU) Earns Buy Rating from HC Wainwright

Caribou Biosciences (NASDAQ:CRBU)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They currently have a $9.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 352.26% from the stock’s current price.

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of Caribou Biosciences in a research note on Wednesday, August 7th.

Caribou Biosciences Stock Performance

Shares of CRBU opened at $1.99 on Friday. The stock has a market capitalization of $180.20 million, a PE ratio of -1.21 and a beta of 2.26. The company’s fifty day moving average is $2.04 and its 200 day moving average is $2.23. Caribou Biosciences has a fifty-two week low of $1.50 and a fifty-two week high of $8.33.

Caribou Biosciences (NASDAQ:CRBU) last posted its earnings results on Wednesday, November 6th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.06. Caribou Biosciences had a negative net margin of 1,290.81% and a negative return on equity of 45.46%. The firm had revenue of $2.02 million for the quarter, compared to the consensus estimate of $3.37 million. As a group, research analysts forecast that Caribou Biosciences will post -1.67 earnings per share for the current year.

Hedge Funds Weigh In On Caribou Biosciences

Several hedge funds have recently added to or reduced their stakes in CRBU. Geode Capital Management LLC boosted its position in shares of Caribou Biosciences by 6.5% during the third quarter. Geode Capital Management LLC now owns 2,030,443 shares of the company’s stock valued at $3,980,000 after buying an additional 124,782 shares during the period. Barclays PLC lifted its stake in shares of Caribou Biosciences by 122.4% during the 3rd quarter. Barclays PLC now owns 129,839 shares of the company’s stock worth $255,000 after acquiring an additional 71,463 shares during the last quarter. Erste Asset Management GmbH purchased a new position in Caribou Biosciences during the 3rd quarter valued at $28,000. PFM Health Sciences LP grew its position in Caribou Biosciences by 5.5% in the 3rd quarter. PFM Health Sciences LP now owns 4,306,671 shares of the company’s stock valued at $8,441,000 after acquiring an additional 223,299 shares during the last quarter. Finally, Walleye Capital LLC increased its stake in Caribou Biosciences by 45.9% in the third quarter. Walleye Capital LLC now owns 237,599 shares of the company’s stock worth $466,000 after purchasing an additional 74,799 shares during the period. 77.51% of the stock is currently owned by institutional investors.

About Caribou Biosciences

Caribou Biosciences, Inc, a clinical-stage biopharmaceutical company, engages in the development of genome-edited allogeneic cell therapies for the treatment of hematologic malignancies in the United States and internationally. Its lead product candidate is CB-010, an allogeneic anti-CD19 CAR-T cell therapy that is in phase 1 clinical trial to treat relapsed or refractory B cell non-Hodgkin lymphoma.