HC Wainwright Reaffirms Buy Rating for Caribou Biosciences (NASDAQ:CRBU)

HC Wainwright reaffirmed their buy rating on shares of Caribou Biosciences (NASDAQ:CRBU) in a research report report published on Tuesday morning, Benzinga reports. They currently have a $9.00 target price on the stock.

A number of other research analysts have also commented on the stock. Royal Bank of Canada reaffirmed an outperform rating and set a $14.00 price objective on shares of Caribou Biosciences in a research report on Wednesday, August 7th. Evercore ISI lowered shares of Caribou Biosciences from an outperform rating to an inline rating and cut their price objective for the company from $13.00 to $3.00 in a research report on Monday, June 3rd. Finally, Truist Financial reaffirmed a buy rating and set a $19.00 price objective on shares of Caribou Biosciences in a research report on Thursday, May 16th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $15.00.

Caribou Biosciences Price Performance

Caribou Biosciences stock opened at $1.98 on Tuesday. The firm has a market cap of $178.83 million, a price-to-earnings ratio of -1.37 and a beta of 2.30. Caribou Biosciences has a fifty-two week low of $1.50 and a fifty-two week high of $8.33. The firm has a fifty day moving average price of $2.05 and a two-hundred day moving average price of $3.49.

Caribou Biosciences (NASDAQ:CRBU) last released its earnings results on Tuesday, August 6th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.04. The firm had revenue of $3.46 million during the quarter, compared to analyst estimates of $3.31 million. Caribou Biosciences had a negative net margin of 372.78% and a negative return on equity of 34.76%. As a group, sell-side analysts expect that Caribou Biosciences will post -1.76 earnings per share for the current year.

Institutional Trading of Caribou Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC bought a new stake in Caribou Biosciences in the second quarter valued at about $30,000. Point72 DIFC Ltd increased its stake in Caribou Biosciences by 389.4% in the second quarter. Point72 DIFC Ltd now owns 30,157 shares of the company’s stock valued at $49,000 after acquiring an additional 23,995 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Caribou Biosciences in the second quarter valued at about $52,000. The Manufacturers Life Insurance Company increased its stake in Caribou Biosciences by 16.8% in the second quarter. The Manufacturers Life Insurance Company now owns 36,489 shares of the company’s stock valued at $60,000 after acquiring an additional 5,244 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its stake in Caribou Biosciences by 66.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 17,024 shares of the company’s stock worth $88,000 after buying an additional 6,798 shares during the last quarter. Institutional investors own 77.51% of the company’s stock.

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.