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

Caribou Biosciences, Inc. (NASDAQ:CRBU) has earned an average recommendation of “Buy” from the five analysts that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $10.33.

A number of analysts recently weighed in on CRBU shares. Bank of America decreased their price target on shares of Caribou Biosciences from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday. Citigroup decreased their target price on Caribou Biosciences from $30.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Finally, HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of Caribou Biosciences in a report on Friday, November 15th.

Institutional Investors Weigh In On Caribou Biosciences

A number of hedge funds have recently bought and sold shares of CRBU. Renaissance Technologies LLC acquired a new stake in shares of Caribou Biosciences during the second quarter worth approximately $2,432,000. Dimensional Fund Advisors LP boosted its stake in Caribou Biosciences by 25.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,623,283 shares of the company’s stock valued at $4,302,000 after acquiring an additional 536,162 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Caribou Biosciences by 103.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 82,494 shares of the company’s stock worth $162,000 after purchasing an additional 41,948 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of Caribou Biosciences by 122.4% in the 3rd quarter. Barclays PLC now owns 129,839 shares of the company’s stock valued at $255,000 after purchasing an additional 71,463 shares in the last quarter. Institutional investors and hedge funds own 77.51% of the company’s stock.

Caribou Biosciences Price Performance

NASDAQ:CRBU traded down $0.01 during mid-day trading on Tuesday, reaching $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 twelve month low of $1.50 and a twelve month high of $8.33. The company’s fifty day simple moving average is $2.03 and its two-hundred day simple moving average is $2.00. The stock 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 issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.06. The firm had revenue of $2.02 million during the quarter, compared to analyst estimates of $3.37 million. Caribou Biosciences had a negative net margin of 1,290.81% and a negative return on equity of 45.46%. Sell-side analysts expect that Caribou Biosciences will post -1.64 EPS for the current fiscal year.

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.