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

Caribou Biosciences, Inc. (NASDAQ:CRBU) has earned an average rating of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $7.75.

A number of analysts have issued reports on the company. HC Wainwright raised their price target on Caribou Biosciences from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caribou Biosciences in a research note on Friday, July 17th. Finally, Bank of America decreased their target price on shares of Caribou Biosciences from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday.

Caribou Biosciences Trading Down 2.2%

Shares of Caribou Biosciences stock traded down $0.04 during trading hours on Friday, reaching $1.57. 1,097,561 shares of the company’s stock were exchanged, compared to its average volume of 1,557,463. Caribou Biosciences has a 52-week low of $1.38 and a 52-week high of $3.54. The company has a fifty day moving average of $1.69 and a 200-day moving average of $1.84. The firm has a market capitalization of $156.21 million, a price-to-earnings ratio of -1.11 and a beta of 2.38.

Caribou Biosciences (NASDAQ:CRBU) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.08. The business had revenue of $1.50 million during the quarter, compared to the consensus estimate of $2.28 million. Caribou Biosciences had a negative return on equity of 84.17% and a negative net margin of 1,189.14%. On average, equities research analysts anticipate that Caribou Biosciences will post -1.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Caribou Biosciences

Large investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Caribou Biosciences during the 2nd quarter valued at $13,756,000. Vanguard Group Inc. raised its position in shares of Caribou Biosciences by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,226,926 shares of the company’s stock worth $9,849,000 after buying an additional 137,060 shares during the period. Millennium Management LLC boosted its holdings in Caribou Biosciences by 107.4% in the third quarter. Millennium Management LLC now owns 3,216,535 shares of the company’s stock valued at $7,495,000 after acquiring an additional 1,665,946 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Caribou Biosciences by 58.0% in the first quarter. Renaissance Technologies LLC now owns 2,590,497 shares of the company’s stock valued at $4,922,000 after acquiring an additional 950,640 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Caribou Biosciences by 30.6% during the first quarter. Bank of America Corp DE now owns 1,297,167 shares of the company’s stock valued at $2,465,000 after acquiring an additional 303,981 shares during the period. Hedge funds and other institutional investors own 77.51% of the company’s stock.

Caribou Biosciences Company Profile

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.