Brokerages Set Caribou Biosciences, Inc. (NASDAQ:CRBU) Target Price at $10.33

Caribou Biosciences, Inc. (NASDAQ:CRBU) has received an average rating of “Buy” from the five ratings firms that are covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have covered the stock in the last year is $10.33.

Several analysts have commented on CRBU shares. Bank of America decreased their price target on shares of Caribou Biosciences from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday. HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Caribou Biosciences in a research note on Friday, November 15th. Finally, Citigroup reduced their price target on Caribou Biosciences from $30.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th.

Institutional Trading of Caribou Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new stake in shares of Caribou Biosciences in the 2nd quarter valued at $2,432,000. Dimensional Fund Advisors LP grew its position 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 worth $4,302,000 after purchasing an additional 536,162 shares during the period. Geode Capital Management LLC raised its stake in shares of Caribou Biosciences by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,030,443 shares of the company’s stock valued at $3,980,000 after buying an additional 124,782 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Caribou Biosciences by 103.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 82,494 shares of the company’s stock valued at $162,000 after buying an additional 41,948 shares during the period. Finally, Barclays PLC boosted its stake in shares of Caribou Biosciences by 122.4% in the third quarter. Barclays PLC now owns 129,839 shares of the company’s stock worth $255,000 after buying an additional 71,463 shares during the last quarter. Institutional investors and hedge funds own 77.51% of the company’s stock.

Caribou Biosciences Stock Down 8.0 %

Shares of CRBU stock opened at $1.72 on Tuesday. The firm has a market cap 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. The company’s 50 day moving average is $2.02 and its 200 day moving average is $2.00.

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

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.