Short Interest in Caribou Biosciences, Inc. (NASDAQ:CRBU) Grows By 6.6%

Caribou Biosciences, Inc. (NASDAQ:CRBU) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 12,270,000 shares, an increase of 6.6% from the May 31st total of 11,510,000 shares. Based on an average daily trading volume, of 2,310,000 shares, the days-to-cover ratio is presently 5.3 days. Approximately 15.4% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

CRBU has been the subject of several research analyst reports. Evercore ISI downgraded Caribou Biosciences from an “outperform” rating to an “inline” rating and reduced their target price for the stock from $13.00 to $3.00 in a research note on Monday, June 3rd. HC Wainwright reduced their price objective on shares of Caribou Biosciences from $24.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, June 4th. Finally, Truist Financial reissued a “buy” rating and issued a $19.00 price objective on shares of Caribou Biosciences in a research report on Thursday, May 16th.

Caribou Biosciences Trading Up 0.6 %

CRBU stock opened at $1.60 on Wednesday. The business’s fifty day moving average price is $2.72 and its two-hundred day moving average price is $4.71. Caribou Biosciences has a fifty-two week low of $1.54 and a fifty-two week high of $8.59.

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

Hedge Funds Weigh In On Caribou Biosciences

A number of hedge funds have recently added to or reduced their stakes in CRBU. China Universal Asset Management Co. Ltd. grew its holdings in shares of Caribou Biosciences by 352.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,226 shares of the company’s stock worth $59,000 after purchasing an additional 7,968 shares in the last quarter. Entropy Technologies LP acquired a new stake in Caribou Biosciences during the first quarter worth about $113,000. Exchange Traded Concepts LLC increased its holdings in Caribou Biosciences by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 23,924 shares of the company’s stock valued at $137,000 after buying an additional 6,066 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Caribou Biosciences in the 4th quarter valued at approximately $150,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Caribou Biosciences during the 1st quarter worth approximately $151,000. Institutional investors own 77.51% of the company’s stock.

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.