Bank of New York Mellon Corp Buys 38,098 Shares of Caribou Biosciences, Inc. (NASDAQ:CRBU)

Bank of New York Mellon Corp lifted its stake in Caribou Biosciences, Inc. (NASDAQ:CRBU) by 14.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 308,273 shares of the company’s stock after purchasing an additional 38,098 shares during the quarter. Bank of New York Mellon Corp owned about 0.34% of Caribou Biosciences worth $506,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. boosted its stake in Caribou Biosciences by 66.5% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 17,024 shares of the company’s stock valued at $88,000 after purchasing an additional 6,798 shares during the last quarter. Entropy Technologies LP purchased a new stake in Caribou Biosciences during the 1st quarter valued at $113,000. Bayesian Capital Management LP purchased a new stake in Caribou Biosciences during the 1st quarter valued at $151,000. Walleye Trading LLC purchased a new stake in Caribou Biosciences during the 1st quarter valued at $155,000. Finally, Pale Fire Capital SE purchased a new stake in Caribou Biosciences during the 4th quarter valued at $162,000. 77.51% of the stock is owned by institutional investors.

Caribou Biosciences Price Performance

Shares of CRBU stock opened at $1.92 on Wednesday. The company’s 50-day simple moving average is $2.11 and its two-hundred day simple moving average is $2.91. Caribou Biosciences, Inc. has a one year low of $1.50 and a one year high of $8.33. The company has a market capitalization of $173.41 million, a P/E ratio of -1.32 and a beta of 2.29.

Caribou Biosciences (NASDAQ:CRBU) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.04. The company had revenue of $3.46 million for 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%. On average, research analysts expect that Caribou Biosciences, Inc. will post -1.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CRBU. Royal Bank of Canada restated an “outperform” rating and issued a $14.00 price target on shares of Caribou Biosciences in a research note on Wednesday, August 7th. Evercore ISI downgraded Caribou Biosciences from an “outperform” rating to an “inline” rating and dropped their price target for the stock from $13.00 to $3.00 in a research note on Monday, June 3rd. Finally, HC Wainwright restated a “buy” rating and issued a $9.00 price target on shares of Caribou Biosciences in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $11.25.

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.