Renaissance Technologies LLC Buys Shares of 1,482,900 Caribou Biosciences, Inc. (NASDAQ:CRBU)

Renaissance Technologies LLC purchased a new position in Caribou Biosciences, Inc. (NASDAQ:CRBU) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 1,482,900 shares of the company’s stock, valued at approximately $2,432,000.

A number of other large investors also recently modified their holdings of CRBU. Avidity Partners Management LP raised its position in shares of Caribou Biosciences by 5.1% during the 4th quarter. Avidity Partners Management LP now owns 6,360,212 shares of the company’s stock worth $36,444,000 after buying an additional 310,000 shares in the last quarter. Vanguard Group Inc. raised its holdings in Caribou Biosciences by 3.8% during the first quarter. Vanguard Group Inc. now owns 4,110,795 shares of the company’s stock worth $21,129,000 after purchasing an additional 148,751 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Caribou Biosciences by 25.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,623,283 shares of the company’s stock worth $4,302,000 after purchasing an additional 536,162 shares in the last quarter. Wellington Management Group LLP boosted its stake in Caribou Biosciences by 57.7% during the 4th quarter. Wellington Management Group LLP now owns 314,080 shares of the company’s stock valued at $1,800,000 after purchasing an additional 114,975 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Caribou Biosciences by 14.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 308,273 shares of the company’s stock valued at $506,000 after purchasing an additional 38,098 shares during the period. 77.51% of the stock is owned by institutional investors and hedge funds.

Caribou Biosciences Stock Down 6.6 %

Caribou Biosciences stock opened at $1.83 on Wednesday. Caribou Biosciences, Inc. has a 12 month low of $1.50 and a 12 month high of $8.33. The stock has a market cap of $165.28 million, a P/E ratio of -1.26 and a beta of 2.29. The company’s fifty day simple moving average is $2.06 and its 200-day simple moving average is $2.78.

Caribou Biosciences (NASDAQ:CRBU) last issued its earnings results on Tuesday, August 6th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.04. Caribou Biosciences had a negative return on equity of 34.76% and a negative net margin of 372.78%. The firm had revenue of $3.46 million for the quarter, compared to the consensus estimate of $3.31 million. On average, equities research analysts expect that Caribou Biosciences, Inc. will post -1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Caribou Biosciences in a report on Tuesday, September 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $14.00 price target on shares of Caribou Biosciences in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.25.

About Caribou Biosciences

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.