Caribou Biosciences, Inc. (NASDAQ:CRBU) Short Interest Update

Caribou Biosciences, Inc. (NASDAQ:CRBU) was the target of a significant decrease in short interest in August. As of August 15th, there was short interest totalling 11,520,000 shares, a decrease of 7.3% from the July 31st total of 12,430,000 shares. Based on an average daily volume of 2,170,000 shares, the days-to-cover ratio is presently 5.3 days. Currently, 14.4% of the company’s stock are sold short.

Caribou Biosciences Price Performance

Shares of Caribou Biosciences stock traded up $0.05 during midday trading on Monday, hitting $2.16. The company had a trading volume of 570,700 shares, compared to its average volume of 1,879,395. The business’s 50 day simple moving average is $2.04 and its two-hundred day simple moving average is $3.56. The stock has a market cap of $195.09 million, a PE ratio of -1.49 and a beta of 2.30. Caribou Biosciences has a 1-year low of $1.50 and a 1-year high of $8.33.

Caribou Biosciences (NASDAQ:CRBU) last issued its earnings results on Tuesday, August 6th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.04. The firm had revenue of $3.46 million during the quarter, compared to analysts’ expectations of $3.31 million. Caribou Biosciences had a negative return on equity of 34.76% and a negative net margin of 372.78%. On average, sell-side analysts expect that Caribou Biosciences will post -1.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CRBU. Renaissance Technologies LLC bought a new position in shares of Caribou Biosciences in the second quarter valued at about $2,432,000. Dimensional Fund Advisors LP increased its position in Caribou Biosciences by 25.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,623,283 shares of the company’s stock worth $4,302,000 after purchasing an additional 536,162 shares during the period. Avidity Partners Management LP increased its position in Caribou Biosciences by 5.1% in the fourth quarter. Avidity Partners Management LP now owns 6,360,212 shares of the company’s stock worth $36,444,000 after purchasing an additional 310,000 shares during the period. XTX Topco Ltd acquired a new stake in Caribou Biosciences in the second quarter worth about $341,000. Finally, Vanguard Group Inc. increased its position in Caribou Biosciences by 3.8% in the first quarter. Vanguard Group Inc. now owns 4,110,795 shares of the company’s stock worth $21,129,000 after purchasing an additional 148,751 shares during the period. 77.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CRBU shares. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Caribou Biosciences in a report on Wednesday, August 14th. Evercore ISI downgraded Caribou Biosciences from an “outperform” rating to an “inline” rating and dropped their price objective for the stock from $13.00 to $3.00 in a report on Monday, June 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $14.00 price objective on shares of Caribou Biosciences in a report on Wednesday, August 7th. Finally, Truist Financial restated a “buy” rating and issued a $19.00 price objective on shares of Caribou Biosciences in a report on Thursday, May 16th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $15.00.

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.