Caribou Biosciences, Inc. (NASDAQ:CRBU) Given Average Recommendation of “Buy” by Brokerages

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

A number of equities research analysts have commented on CRBU shares. Citigroup decreased their price target on Caribou Biosciences from $30.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Caribou Biosciences in a research report on Friday, November 15th. Finally, Bank of America dropped their target price on shares of Caribou Biosciences from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th.

Caribou Biosciences Stock Performance

Shares of NASDAQ:CRBU opened at $1.35 on Friday. The firm’s 50 day simple moving average is $1.70 and its 200-day simple moving average is $1.94. Caribou Biosciences has a one year low of $1.30 and a one year high of $8.33. The firm has a market cap of $122.24 million, a PE ratio of -0.82 and a beta of 2.31.

Caribou Biosciences (NASDAQ:CRBU) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.38) earnings per share 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 analysts’ expectations of $3.37 million. Caribou Biosciences had a negative net margin of 1,290.81% and a negative return on equity of 45.46%. Equities research analysts predict that Caribou Biosciences will post -1.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Caribou Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in shares of Caribou Biosciences by 25.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,623,283 shares of the company’s stock valued at $4,302,000 after purchasing an additional 536,162 shares during the period. Geode Capital Management LLC boosted its holdings in Caribou Biosciences by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,030,443 shares of the company’s stock worth $3,980,000 after buying an additional 124,782 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in Caribou Biosciences by 103.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 82,494 shares of the company’s stock worth $162,000 after buying an additional 41,948 shares in the last quarter. Barclays PLC raised its holdings in shares of Caribou Biosciences by 122.4% during the third quarter. Barclays PLC now owns 129,839 shares of the company’s stock valued at $255,000 after acquiring an additional 71,463 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new position in shares of Caribou Biosciences in the second quarter valued at approximately $30,000. 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.