Caribou Biosciences (NASDAQ:CRBU) Given New $5.00 Price Target at Bank of America

Caribou Biosciences (NASDAQ:CRBU) had its target price trimmed by Bank of America from $6.00 to $5.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

CRBU has been the topic of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Caribou Biosciences in a research report on Friday, July 17th. HC Wainwright boosted their price objective on Caribou Biosciences from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $7.75.

Caribou Biosciences Stock Performance

CRBU stock opened at $1.58 on Friday. The firm has a market cap of $156.70 million, a PE ratio of -1.46 and a beta of 2.38. The firm’s fifty day moving average is $1.68 and its 200 day moving average is $1.83. Caribou Biosciences has a one year low of $1.38 and a one year high of $3.54.

Caribou Biosciences (NASDAQ:CRBU) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.08. The company had revenue of $1.50 million during the quarter, compared to analysts’ expectations of $2.28 million. Caribou Biosciences had a negative net margin of 1,030.42% and a negative return on equity of 84.75%. Research analysts predict that Caribou Biosciences will post -1.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Caribou Biosciences

A number of large investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Caribou Biosciences in the second quarter worth about $13,756,000. Vanguard Group Inc. grew its stake in Caribou Biosciences by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,226,926 shares of the company’s stock valued at $9,849,000 after acquiring an additional 137,060 shares in the last quarter. Millennium Management LLC grew its stake in Caribou Biosciences by 107.4% during the 3rd quarter. Millennium Management LLC now owns 3,216,535 shares of the company’s stock valued at $7,495,000 after acquiring an additional 1,665,946 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Caribou Biosciences by 58.0% in the 1st quarter. Renaissance Technologies LLC now owns 2,590,497 shares of the company’s stock valued at $4,922,000 after acquiring an additional 950,640 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Caribou Biosciences by 30.6% in the 1st quarter. Bank of America Corp DE now owns 1,297,167 shares of the company’s stock valued at $2,465,000 after acquiring an additional 303,981 shares during the last quarter. Hedge funds and other institutional investors own 77.51% of the company’s stock.

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.