Caribou Biosciences (NASDAQ:CRBU) Price Target Cut to $6.00 by Analysts at Citigroup

Caribou Biosciences (NASDAQ:CRBU) had its target price reduced by research analysts at Citigroup from $30.00 to $6.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 172.73% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada restated an “outperform” rating and issued a $14.00 price objective on shares of Caribou Biosciences in a research report on Wednesday, August 7th. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Caribou Biosciences in a research report on Friday, November 15th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $10.20.

Caribou Biosciences Stock Up 8.9 %

Shares of NASDAQ CRBU opened at $2.20 on Tuesday. The business’s 50 day moving average price is $2.04 and its 200 day moving average price is $2.14. The firm has a market cap of $199.21 million, a P/E ratio of -1.33 and a beta of 2.26. Caribou Biosciences has a 52 week low of $1.50 and a 52 week high of $8.33.

Caribou Biosciences (NASDAQ:CRBU) last issued 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 return on equity of 45.46% and a negative net margin of 1,290.81%. The firm had revenue of $2.02 million for the quarter, compared to analyst estimates of $3.37 million. As a group, research analysts expect that Caribou Biosciences will post -1.64 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Erste Asset Management GmbH purchased a new position in shares of Caribou Biosciences during the 3rd quarter valued at approximately $28,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Caribou Biosciences by 63.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 17,380 shares of the company’s stock valued at $34,000 after buying an additional 6,768 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of Caribou Biosciences during the 2nd quarter valued at approximately $30,000. Intech Investment Management LLC purchased a new position in shares of Caribou Biosciences during the 3rd quarter valued at approximately $43,000. Finally, Bayesian Capital Management LP purchased a new position in shares of Caribou Biosciences during the 1st quarter valued at approximately $151,000. Hedge funds and other 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.