Bank of America Cuts Caribou Biosciences (NASDAQ:CRBU) Price Target to $5.00

Caribou Biosciences (NASDAQ:CRBU) had its price objective decreased by investment analysts at 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. Bank of America‘s price target indicates a potential upside of 215.46% from the company’s current price.

Several other equities analysts also recently issued reports on CRBU. HC Wainwright upped their price objective on shares of Caribou Biosciences from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Caribou Biosciences in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Caribou Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $7.75.

Caribou Biosciences Stock Down 1.6%

CRBU traded down $0.03 on Friday, reaching $1.58. The company’s stock had a trading volume of 956,981 shares, compared to its average volume of 1,556,836. The company has a market capitalization of $157.20 million, a price-to-earnings ratio of -1.12 and a beta of 2.38. Caribou Biosciences has a fifty-two week low of $1.38 and a fifty-two week high of $3.54. The stock has a 50 day moving average of $1.69 and a two-hundred day moving average of $1.84.

Caribou Biosciences (NASDAQ:CRBU) last issued its earnings results on Wednesday, August 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.08. The business 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 1,189.14% and a negative return on equity of 84.17%. As a group, analysts anticipate that Caribou Biosciences will post -1.15 earnings per share for the current fiscal year.

Institutional Trading of Caribou Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Caribou Biosciences during the 2nd quarter worth $13,756,000. Vanguard Group Inc. increased its stake in Caribou Biosciences by 3.4% in the third quarter. Vanguard Group Inc. now owns 4,226,926 shares of the company’s stock valued at $9,849,000 after purchasing an additional 137,060 shares during the period. Millennium Management LLC increased its stake in Caribou Biosciences by 107.4% in the third quarter. Millennium Management LLC now owns 3,216,535 shares of the company’s stock valued at $7,495,000 after purchasing an additional 1,665,946 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Caribou Biosciences by 58.0% in the first quarter. Renaissance Technologies LLC now owns 2,590,497 shares of the company’s stock valued at $4,922,000 after buying an additional 950,640 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Caribou Biosciences by 30.6% in the first quarter. Bank of America Corp DE now owns 1,297,167 shares of the company’s stock valued at $2,465,000 after buying an additional 303,981 shares during the last quarter. Hedge funds and other institutional investors own 77.51% of the company’s stock.

Caribou Biosciences Company Profile

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.