Geode Capital Management LLC Boosts Stake in Caribou Biosciences, Inc. (NASDAQ:CRBU)

Geode Capital Management LLC boosted its position in Caribou Biosciences, Inc. (NASDAQ:CRBU) by 6.5% in the 3rd quarter, Holdings Channel reports. The firm owned 2,030,443 shares of the company’s stock after buying an additional 124,782 shares during the quarter. Geode Capital Management LLC’s holdings in Caribou Biosciences were worth $3,980,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Erste Asset Management GmbH bought a new stake in shares of Caribou Biosciences during the 3rd quarter worth approximately $28,000. AQR Capital Management LLC bought a new position in Caribou Biosciences in the 2nd quarter valued at $30,000. China Universal Asset Management Co. Ltd. increased its stake in Caribou Biosciences by 63.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 17,380 shares of the company’s stock worth $34,000 after purchasing an additional 6,768 shares during the period. Intech Investment Management LLC bought a new stake in shares of Caribou Biosciences during the third quarter worth $43,000. Finally, Point72 DIFC Ltd boosted its stake in shares of Caribou Biosciences by 389.4% during the second quarter. Point72 DIFC Ltd now owns 30,157 shares of the company’s stock valued at $49,000 after purchasing an additional 23,995 shares during the period. Hedge funds and other institutional investors own 77.51% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on CRBU shares. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price target on shares of Caribou Biosciences in a research note on Friday, November 15th. Citigroup dropped their target price on shares of Caribou Biosciences from $30.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Caribou Biosciences has a consensus rating of “Buy” and an average target price of $10.20.

Caribou Biosciences Trading Up 2.4 %

Shares of Caribou Biosciences stock opened at $1.72 on Monday. The stock’s fifty day moving average price is $2.03 and its 200-day moving average price is $2.00. The firm has a market cap of $155.75 million, a P/E ratio of -1.04 and a beta of 2.27. Caribou Biosciences, Inc. has a 12 month low of $1.50 and a 12 month high of $8.33.

Caribou Biosciences (NASDAQ:CRBU) last posted its earnings results on Wednesday, November 6th. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.06. Caribou Biosciences had a negative net margin of 1,290.81% and a negative return on equity of 45.46%. The business had revenue of $2.02 million for the quarter, compared to the consensus estimate of $3.37 million. Analysts forecast that Caribou Biosciences, Inc. will post -1.64 earnings per share for the current year.

Caribou Biosciences 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.