Caribou Biosciences, Inc. (NASDAQ:CRBU) Stock Has Average Price Target of $5.50

Shares of Caribou Biosciences, Inc. (NASDAQ:CRBU) have earned a consensus recommendation of “Hold” from the eight brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $5.50.

A number of research analysts have recently weighed in on the company. Bank of America lowered their price objective on Caribou Biosciences from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Brookline Capital Markets lowered shares of Caribou Biosciences from a “buy” rating to a “hold” rating in a report on Wednesday, October 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Caribou Biosciences in a research note on Thursday. HC Wainwright cut shares of Caribou Biosciences from a “buy” rating to a “neutral” rating in a research note on Thursday, October 8th. Finally, Wall Street Zen downgraded shares of Caribou Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, September 19th.

Institutional Trading of Caribou Biosciences

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new position in Caribou Biosciences in the 2nd quarter worth $13,756,000. Bank of America Corp DE purchased a new stake in Caribou Biosciences in the 2nd quarter worth $2,483,000. Renaissance Technologies LLC increased its stake in Caribou Biosciences by 58.0% in the 1st quarter. Renaissance Technologies LLC now owns 2,590,497 shares of the company’s stock worth $4,922,000 after buying an additional 950,640 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Caribou Biosciences in the 2nd quarter worth $816,000. Finally, Green Alpha Advisors LLC bought a new stake in Caribou Biosciences during the second quarter valued at about $641,000. 77.51% of the stock is currently owned by institutional investors.

Caribou Biosciences Stock Performance

NASDAQ CRBU opened at $0.47 on Wednesday. The business’s fifty day moving average is $1.30 and its 200 day moving average is $1.68. Caribou Biosciences has a fifty-two week low of $0.44 and a fifty-two week high of $3.54. The company has a market capitalization of $50.38 million, a PE ratio of -0.44 and a beta of 2.31.

Caribou Biosciences (NASDAQ:CRBU) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.08. Caribou Biosciences had a negative return on equity of 89.11% and a negative net margin of 1,030.42%. The business had revenue of $1.50 million during the quarter, compared to analysts’ expectations of $2.28 million. On average, sell-side analysts forecast that Caribou Biosciences will post -1.07 EPS for the current year.

About Caribou Biosciences

Caribou Biosciences, Inc is a clinical-stage biotechnology company developing genome-edited cell therapies for cancer and other serious diseases. The company uses its proprietary CRISPR-based chRDNA genome-editing platform to engineer immune cells, with an emphasis on allogeneic, or “off-the-shelf,” CAR-T therapies designed to target tumors without requiring cells to be collected from each individual patient.

Caribou’s research and development programs have focused primarily on hematologic malignancies, including investigational CAR-T candidates directed at targets such as CD19 and BCMA.