Citigroup Has Lowered Expectations for Caribou Biosciences (NASDAQ:CRBU) Stock Price

Caribou Biosciences (NASDAQ:CRBU) had its price target lowered by Citigroup from $30.00 to $6.00 in a research note issued to investors on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on CRBU. Royal Bank of Canada reiterated an “outperform” rating and issued a $14.00 price target on shares of Caribou Biosciences in a report on Wednesday, August 7th. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Caribou Biosciences in a report on Friday, November 15th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Caribou Biosciences currently has an average rating of “Buy” and an average target price of $10.20.

Caribou Biosciences Trading Down 0.5 %

Shares of NASDAQ CRBU opened at $2.19 on Tuesday. Caribou Biosciences has a twelve month low of $1.50 and a twelve month high of $8.33. The company has a market capitalization of $198.30 million, a price-to-earnings ratio of -1.33 and a beta of 2.26. The business has a 50 day simple moving average of $2.05 and a 200-day simple moving average of $2.14.

Caribou Biosciences (NASDAQ:CRBU) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.06. Caribou Biosciences had a negative return on equity of 45.46% and a negative net margin of 1,290.81%. The business had revenue of $2.02 million during the quarter, compared to the consensus estimate of $3.37 million. As a group, equities analysts predict that Caribou Biosciences will post -1.64 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRBU. Barclays PLC boosted its position in 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 period. Geode Capital Management LLC boosted its position in Caribou Biosciences by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,030,443 shares of the company’s stock worth $3,980,000 after acquiring an additional 124,782 shares during the period. Erste Asset Management GmbH acquired a new position in Caribou Biosciences during the 3rd quarter worth $28,000. PFM Health Sciences LP boosted its position in Caribou Biosciences by 5.5% during the 3rd quarter. PFM Health Sciences LP now owns 4,306,671 shares of the company’s stock worth $8,441,000 after acquiring an additional 223,299 shares during the period. Finally, Walleye Capital LLC boosted its position in Caribou Biosciences by 45.9% during the 3rd quarter. Walleye Capital LLC now owns 237,599 shares of the company’s stock worth $466,000 after acquiring an additional 74,799 shares during the period. Institutional investors and hedge funds own 77.51% of the company’s stock.

Caribou Biosciences Company Profile

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.