Caribou Biosciences (NASDAQ:CRBU) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Caribou Biosciences (NASDAQ:CRBU) announced its quarterly earnings data on Thursday. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.02, FiscalAI reports. Caribou Biosciences had a negative net margin of 1,030.42% and a negative return on equity of 89.11%. The business had revenue of $1.61 million for the quarter, compared to analyst estimates of $1.60 million.

Caribou Biosciences Stock Up 8.8%

Caribou Biosciences stock traded up $0.04 during mid-day trading on Friday, reaching $0.45. The company had a trading volume of 1,699,805 shares, compared to its average volume of 6,005,073. The company has a 50 day moving average of $0.95 and a 200-day moving average of $1.60. Caribou Biosciences has a 52 week low of $0.40 and a 52 week high of $2.49. The firm has a market cap of $48.11 million, a price-to-earnings ratio of -0.44 and a beta of 2.50.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CRBU shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caribou Biosciences in a research report on Thursday, October 15th. Brookline Capital Markets downgraded Caribou Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, October 7th. Leerink Partners cut Caribou Biosciences from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $4.00 to $1.00 in a research note on Wednesday, October 7th. HC Wainwright lowered Caribou Biosciences from a “buy” rating to a “neutral” rating in a report on Thursday, October 8th. Finally, Royal Bank Of Canada cut shares of Caribou Biosciences from an “outperform” rating to a “sector perform” rating and set a $1.00 target price for the company. in a report on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $4.50.

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 CRISPR gene-editing technology to engineer allogeneic, or “off-the-shelf,” immune-cell therapies designed to target cancer cells while reducing limitations associated with individualized cell treatments.

Caribou’s research platform is based on CRISPR hybrid RNA-DNA guide technology, which is intended to support precise and efficient genome editing.