Caribou Biosciences (NASDAQ:CRBU) Stock Price Down 0.6% – Time to Sell?

Caribou Biosciences, Inc. (NASDAQ:CRBU) shares traded down 0.6% during mid-day trading on Tuesday . The company traded as low as $1.73 and last traded at $1.76. 1,308,269 shares traded hands during trading, a decline of 46% from the average session volume of 2,432,427 shares. The stock had previously closed at $1.77.

Analyst Ratings Changes

CRBU has been the topic of a number of recent analyst reports. HC Wainwright increased their target price on Caribou Biosciences from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Caribou Biosciences in a report on Monday, April 20th. Finally, Truist Financial raised shares of Caribou Biosciences to a “strong-buy” rating in a research note on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.67.

Caribou Biosciences Price Performance

The firm has a fifty day moving average of $1.97 and a two-hundred day moving average of $1.82. The stock has a market capitalization of $174.56 million, a P/E ratio of -1.24 and a beta of 2.33.

Caribou Biosciences (NASDAQ:CRBU) last issued its earnings results on Thursday, May 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.07. The company had revenue of $2.40 million for the quarter, compared to analysts’ expectations of $2.21 million. Caribou Biosciences had a negative net margin of 1,189.14% and a negative return on equity of 84.17%. As a group, sell-side analysts forecast that Caribou Biosciences, Inc. will post -1.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Caribou Biosciences

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Caribou Biosciences by 3.4% during the third quarter. Vanguard Group Inc. now owns 4,226,926 shares of the company’s stock valued at $9,849,000 after buying an additional 137,060 shares during the period. Millennium Management LLC raised 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 worth $7,495,000 after buying an additional 1,665,946 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in 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 lifted its holdings in Caribou Biosciences by 30.6% during the first quarter. Bank of America Corp DE now owns 1,297,167 shares of the company’s stock worth $2,465,000 after buying an additional 303,981 shares during the period. Finally, Marshall Wace LLP boosted its position in Caribou Biosciences by 600.2% during the 4th quarter. Marshall Wace LLP now owns 881,105 shares of the company’s stock valued at $1,401,000 after acquiring an additional 755,261 shares in 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.