Caribou Biosciences (NASDAQ:CRBU) Announces Quarterly Earnings Results

Caribou Biosciences (NASDAQ:CRBU) issued its earnings results on Thursday. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.02, FiscalAI reports. The firm had revenue of $1.61 million for the quarter, compared to the consensus estimate of $1.60 million. Caribou Biosciences had a negative net margin of 1,030.42% and a negative return on equity of 89.11%.

Caribou Biosciences Trading Up 8.8%

CRBU stock traded up $0.04 on Friday, hitting $0.45. The company had a trading volume of 1,699,805 shares, compared to its average volume of 6,005,073. Caribou Biosciences has a 12-month low of $0.40 and a 12-month high of $2.49. The stock has a market cap of $48.11 million, a price-to-earnings ratio of -0.44 and a beta of 2.50. The stock’s 50-day simple moving average is $0.95 and its 200 day simple moving average is $1.60.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Caribou Biosciences in a research report on Thursday, October 15th. Wall Street Zen cut Caribou Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Brookline Capital Markets downgraded Caribou Biosciences from a “buy” rating to a “hold” rating in a report on Wednesday, October 7th. HC Wainwright lowered Caribou Biosciences from a “buy” rating to a “neutral” rating in a research report on Thursday, October 8th. Finally, Leerink Partners cut shares of Caribou Biosciences from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $4.00 to $1.00 in a research note on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $4.50.

About Caribou Biosciences

Caribou Biosciences, Inc is a clinical-stage biotechnology company developing genome-edited cell therapies for cancer and other serious diseases. The company uses CRISPR gene-editing technology to engineer allogeneic, or “off-the-shelf,” immune-cell therapies designed to target cancer cells while reducing limitations associated with individualized cell treatments.

Caribou’s research platform is based on CRISPR hybrid RNA-DNA guide technology, which is intended to support precise and efficient genome editing.