Caribou Biosciences, Inc. (NASDAQ:CRBU) Receives Average Rating of “Buy” from Brokerages

Shares of Caribou Biosciences, Inc. (NASDAQ:CRBU) have received a consensus recommendation of “Buy” from the five brokerages that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $10.33.

Several equities research analysts have commented on CRBU shares. Citigroup dropped their price target on shares of Caribou Biosciences from $30.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Caribou Biosciences in a research note on Friday, November 15th. Finally, Bank of America dropped their price target on Caribou Biosciences from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday.

Caribou Biosciences Stock Performance

Shares of NASDAQ CRBU traded down $0.01 during midday trading on Tuesday, hitting $1.87. The company’s stock had a trading volume of 1,694,182 shares, compared to its average volume of 1,399,567. Caribou Biosciences has a 1-year low of $1.50 and a 1-year high of $8.33. The firm’s fifty day moving average price is $2.03 and its 200-day moving average price is $2.00. The firm has a market cap of $169.33 million, a P/E ratio of -1.13 and a beta of 2.34.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Erste Asset Management GmbH bought a new stake in shares of Caribou Biosciences in the 3rd quarter valued at approximately $28,000. China Universal Asset Management Co. Ltd. grew its position in Caribou Biosciences by 63.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 17,380 shares of the company’s stock worth $34,000 after acquiring an additional 6,768 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Caribou Biosciences during the 2nd quarter worth $30,000. Intech Investment Management LLC bought a new position in shares of Caribou Biosciences during the 3rd quarter valued at $43,000. Finally, Point72 DIFC Ltd lifted its stake in shares of Caribou Biosciences by 389.4% in the 2nd quarter. Point72 DIFC Ltd now owns 30,157 shares of the company’s stock valued at $49,000 after purchasing an additional 23,995 shares during the last quarter. Hedge funds and other institutional investors own 77.51% of the company’s stock.

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.