Caribou Biosciences (NASDAQ:CRBU) Upgraded by Truist Financial to Strong-Buy Rating

Caribou Biosciences (NASDAQ:CRBU) was upgraded by equities research analysts at Truist Financial to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caribou Biosciences in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $8.00.

Caribou Biosciences Trading Up 3.3%

Caribou Biosciences stock opened at $1.88 on Wednesday. The company has a market capitalization of $181.68 million, a P/E ratio of -1.18 and a beta of 2.54. The firm’s fifty day simple moving average is $1.71 and its 200-day simple moving average is $1.91. Caribou Biosciences has a 1-year low of $0.66 and a 1-year high of $3.54.

Caribou Biosciences (NASDAQ:CRBU) last issued its quarterly earnings data on Thursday, March 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.05. The firm had revenue of $3.94 million during the quarter, compared to analysts’ expectations of $1.96 million. Caribou Biosciences had a negative net margin of 1,327.40% and a negative return on equity of 78.40%. On average, equities research analysts predict that Caribou Biosciences will post -1.64 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CRBU. Russell Investments Group Ltd. lifted its holdings in shares of Caribou Biosciences by 80.0% during the fourth quarter. Russell Investments Group Ltd. now owns 24,347 shares of the company’s stock worth $39,000 after buying an additional 10,824 shares during the last quarter. Green Alpha Advisors LLC grew its stake in shares of Caribou Biosciences by 3.1% in the fourth quarter. Green Alpha Advisors LLC now owns 375,139 shares of the company’s stock worth $596,000 after acquiring an additional 11,440 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Caribou Biosciences in the third quarter worth $29,000. Bronte Capital Management Pty Ltd. bought a new position in Caribou Biosciences during the fourth quarter worth $25,000. Finally, Liberty Wealth Management LLC bought a new position in Caribou Biosciences during the third quarter worth $45,000. 77.51% of the stock is owned by institutional investors.

About Caribou Biosciences

Caribou Biosciences, Inc is a clinical-stage biopharmaceutical company that leverages its proprietary CRISPR-Cas gene-editing platform to develop transformative cell therapies and in vivo treatments for a range of cancers and genetic diseases. The company’s core technology enables precise modification of cellular genomes, allowing the design of engineered T-cell and NK-cell therapies aimed at improving safety, efficacy and persistence in patients with hematologic and solid tumor malignancies. Alongside its oncology portfolio, Caribou is advancing in vivo editing programs targeting monogenic disorders, with initiatives in areas such as Duchenne muscular dystrophy and familial amyloidosis.

Established in 2011 and headquartered in Berkeley, California, Caribou Biosciences was co-founded by Nobel laureate Jennifer Doudna, one of the pioneers of CRISPR gene-editing technology.