Caribou Biosciences (NASDAQ:CRBU) Posts Quarterly Earnings Results

Caribou Biosciences (NASDAQ:CRBU) issued its earnings results on Thursday. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.07, FiscalAI reports. The business had revenue of $2.40 million during the quarter, compared to analysts’ expectations of $2.21 million. Caribou Biosciences had a negative return on equity of 78.10% and a negative net margin of 1,189.14%.

Caribou Biosciences Trading Up 3.2%

Shares of CRBU traded up $0.06 during trading hours on Friday, hitting $1.94. The company had a trading volume of 891,799 shares, compared to its average volume of 1,534,205. The company has a market capitalization of $191.44 million, a PE ratio of -1.37 and a beta of 2.27. Caribou Biosciences has a one year low of $0.75 and a one year high of $3.54. The company’s fifty day moving average price is $1.96 and its two-hundred day moving average price is $1.87.

Wall Street Analysts Forecast Growth

CRBU has been the subject of several recent research reports. Truist Financial raised Caribou Biosciences to a “strong-buy” rating in a research report on Wednesday, March 25th. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Caribou Biosciences in a research report on Tuesday, April 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Caribou Biosciences in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Caribou Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $8.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Creative Planning acquired a new position in Caribou Biosciences during the 2nd quarter valued at about $25,000. Hudson Bay Capital Management LP acquired a new position in Caribou Biosciences during the 2nd quarter valued at about $30,000. Russell Investments Group Ltd. increased its position in Caribou Biosciences by 80.0% during the 4th quarter. Russell Investments Group Ltd. now owns 24,347 shares of the company’s stock valued at $39,000 after buying an additional 10,824 shares in the last quarter. Invesco Ltd. increased its position in Caribou Biosciences by 187.2% during the 4th quarter. Invesco Ltd. now owns 35,063 shares of the company’s stock valued at $56,000 after buying an additional 22,856 shares in the last quarter. Finally, Man Group plc acquired a new position in Caribou Biosciences during the 4th quarter valued at about $58,000. 77.51% of the stock is owned by institutional investors and hedge funds.

About Caribou Biosciences

Caribou Biosciences, Inc is a clinical-stage biopharmaceutical company that leverages its proprietary CRISPR-Cas gene-editing platform to develop transformative cell therapies and in vivo treatments for a range of cancers and genetic diseases. The company’s core technology enables precise modification of cellular genomes, allowing the design of engineered T-cell and NK-cell therapies aimed at improving safety, efficacy and persistence in patients with hematologic and solid tumor malignancies. Alongside its oncology portfolio, Caribou is advancing in vivo editing programs targeting monogenic disorders, with initiatives in areas such as Duchenne muscular dystrophy and familial amyloidosis.

Established in 2011 and headquartered in Berkeley, California, Caribou Biosciences was co-founded by Nobel laureate Jennifer Doudna, one of the pioneers of CRISPR gene-editing technology.