Caribou Biosciences, Inc. (NASDAQ:CRBU) Receives $7.75 Consensus PT from Analysts

Shares of Caribou Biosciences, Inc. (NASDAQ:CRBU) have been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $7.75.

CRBU has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Caribou Biosciences in a research note on Friday, July 17th. Bank of America cut their price target on shares of Caribou Biosciences from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Finally, Wall Street Zen cut shares of Caribou Biosciences from a “hold” rating to a “sell” rating in a report on Saturday.

Caribou Biosciences Price Performance

Shares of NASDAQ CRBU opened at $1.30 on Friday. Caribou Biosciences has a twelve month low of $1.25 and a twelve month high of $3.54. The stock has a market cap of $139.37 million, a price-to-earnings ratio of -1.20 and a beta of 2.28. The company’s fifty day moving average is $1.56 and its 200-day moving average is $1.81.

Caribou Biosciences (NASDAQ:CRBU) last posted its earnings results on Thursday, August 13th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.50 million for the quarter, compared to analyst estimates of $2.28 million. On average, research analysts anticipate that Caribou Biosciences will post -0.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Caribou Biosciences

Several institutional investors have recently added to or reduced their stakes in CRBU. BlackRock Inc. bought a new stake in shares of Caribou Biosciences in the second quarter valued at about $13,756,000. Renaissance Technologies LLC boosted its position in shares of Caribou Biosciences by 58.0% during the first 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 during the period. Bank of America Corp DE bought a new position in shares of Caribou Biosciences during the second quarter worth about $2,483,000. GSA Capital Partners LLP bought a new position in shares of Caribou Biosciences during the second quarter worth about $816,000. Finally, Green Alpha Advisors LLC acquired a new stake in Caribou Biosciences in the 2nd quarter valued at approximately $641,000. 77.51% of the stock is owned by institutional investors.

About Caribou Biosciences

Caribou Biosciences, Inc is a clinical-stage biotechnology company developing genome-edited cell therapies for the treatment of cancer. The company uses its CRISPR-based chRDNA™ technology platform to make targeted genetic modifications to immune cells, with the goal of creating more effective and scalable therapies.

Caribou’s pipeline has focused primarily on allogeneic, or “off-the-shelf,” CAR-T cell therapies. Its investigational programs have included CB-010, an anti-CD19 CAR-T therapy designed for certain blood cancers, as well as additional programs targeting diseases such as multiple myeloma and acute myeloid leukemia.