Caribou Biosciences (NASDAQ:CRBU) Rating Lowered to “Sell” at Wall Street Zen

Caribou Biosciences (NASDAQ:CRBU) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

CRBU has been the topic of a number of other research reports. Bank of America dropped their price target on shares of Caribou Biosciences from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Caribou Biosciences in a report on Friday, July 17th. One investment 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $7.75.

Caribou Biosciences Stock Performance

Caribou Biosciences stock opened at $1.30 on Friday. The firm has a market cap of $139.37 million, a price-to-earnings ratio of -1.20 and a beta of 2.28. The stock has a fifty day simple moving average of $1.57 and a two-hundred day simple moving average of $1.81. Caribou Biosciences has a 12 month low of $1.25 and a 12 month high of $3.54.

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

Institutional Investors Weigh In On Caribou Biosciences

A number of large investors have recently made changes to their positions in the company. CTC Alternative Strategies Ltd. purchased a new position in shares of Caribou Biosciences in the first quarter worth approximately $29,000. Next Capital Management LLC bought a new stake in Caribou Biosciences during the second quarter valued at approximately $35,000. Westmount Partners LLC purchased a new stake in Caribou Biosciences during the first quarter valued at approximately $37,000. The Manufacturers Life Insurance Company purchased a new stake in Caribou Biosciences during the second quarter valued at approximately $41,000. Finally, Spark Investment Management LLC bought a new position in Caribou Biosciences in the second quarter worth approximately $42,000. 77.51% of the stock is currently 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.