Bank of America Has Lowered Expectations for Caribou Biosciences (NASDAQ:CRBU) Stock Price

Caribou Biosciences (NASDAQ:CRBU) had its price target dropped by equities researchers at Bank of America from $13.00 to $11.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

CRBU has been the subject of several other research reports. HC Wainwright reaffirmed a “buy” rating and set a $9.00 target price on shares of Caribou Biosciences in a research note on Friday, November 15th. Citigroup reduced their price objective on shares of Caribou Biosciences from $30.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $10.33.

Caribou Biosciences Trading Down 8.0 %

CRBU stock opened at $1.72 on Tuesday. The firm’s 50-day moving average is $2.03 and its two-hundred day moving average is $2.00. The company has a market capitalization of $155.75 million, a price-to-earnings ratio of -1.04 and a beta of 2.34. Caribou Biosciences has a 52 week low of $1.50 and a 52 week high of $8.33.

Caribou Biosciences (NASDAQ:CRBU) last announced its earnings results on Wednesday, November 6th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.06. The firm had revenue of $2.02 million for the quarter, compared to analysts’ expectations of $3.37 million. Caribou Biosciences had a negative return on equity of 45.46% and a negative net margin of 1,290.81%. On average, equities research analysts predict that Caribou Biosciences will post -1.64 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new stake in shares of Caribou Biosciences during the second quarter valued at approximately $2,432,000. Dimensional Fund Advisors LP raised its stake in Caribou Biosciences by 25.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,623,283 shares of the company’s stock valued at $4,302,000 after purchasing an additional 536,162 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Caribou Biosciences by 6.5% in the third quarter. Geode Capital Management LLC now owns 2,030,443 shares of the company’s stock valued at $3,980,000 after purchasing an additional 124,782 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Caribou Biosciences by 103.5% in the third quarter. Exchange Traded Concepts LLC now owns 82,494 shares of the company’s stock worth $162,000 after buying an additional 41,948 shares during the period. Finally, Barclays PLC grew its holdings in shares of Caribou Biosciences by 122.4% during the third quarter. Barclays PLC now owns 129,839 shares of the company’s stock valued at $255,000 after buying an additional 71,463 shares in the last quarter. 77.51% of the stock is currently owned by institutional investors and hedge funds.

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.