Caribou Biosciences, Inc. (NASDAQ:CRBU) Short Interest Up 9.7% in May

Caribou Biosciences, Inc. (NASDAQ:CRBU) was the target of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 11,510,000 shares, an increase of 9.7% from the May 15th total of 10,490,000 shares. Approximately 14.4% of the company’s stock are sold short. Based on an average daily volume of 2,210,000 shares, the short-interest ratio is currently 5.2 days.

Caribou Biosciences Price Performance

Shares of CRBU stock opened at $1.64 on Wednesday. The firm’s 50-day simple moving average is $3.25 and its 200-day simple moving average is $5.03. Caribou Biosciences has a 1-year low of $1.64 and a 1-year high of $8.59. The firm has a market cap of $148.12 million, a P/E ratio of -1.14 and a beta of 2.43.

Caribou Biosciences (NASDAQ:CRBU) last issued its earnings results on Tuesday, May 7th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.07). The company had revenue of $2.43 million during the quarter, compared to analysts’ expectations of $3.00 million. Caribou Biosciences had a negative return on equity of 33.42% and a negative net margin of 345.05%. Analysts expect that Caribou Biosciences will post -1.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Evercore ISI downgraded shares of Caribou Biosciences from an “outperform” rating to an “inline” rating and reduced their price objective for the stock from $13.00 to $3.00 in a research report on Monday, June 3rd. Truist Financial reissued a “buy” rating and issued a $19.00 target price on shares of Caribou Biosciences in a report on Thursday, May 16th. Finally, HC Wainwright decreased their price objective on shares of Caribou Biosciences from $24.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th.

Institutional Investors Weigh In On Caribou Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Caribou Biosciences by 49.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,822,151 shares of the company’s stock valued at $18,270,000 after buying an additional 1,261,920 shares during the period. Citigroup Inc. boosted its position in shares of Caribou Biosciences by 739.3% in the 3rd quarter. Citigroup Inc. now owns 221,166 shares of the company’s stock valued at $1,057,000 after purchasing an additional 194,816 shares during the period. Barclays PLC lifted its position in shares of Caribou Biosciences by 1,296.0% in the 3rd quarter. Barclays PLC now owns 254,231 shares of the company’s stock valued at $1,215,000 after acquiring an additional 236,020 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Caribou Biosciences during the fourth quarter valued at $253,000. Finally, Laurion Capital Management LP acquired a new position in Caribou Biosciences in the 3rd quarter valued at approximately $790,000. 77.51% of the stock is currently owned by hedge funds and other institutional investors.

Caribou Biosciences Company Profile

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.