Caribou Biosciences (NASDAQ:CRBU) Trading Up 1.9% – Here’s Why

Shares of Caribou Biosciences, Inc. (NASDAQ:CRBU) rose 1.9% during mid-day trading on Tuesday . The company traded as high as $1.7250 and last traded at $1.65. Approximately 1,605,749 shares changed hands during trading, a decline of 38% from the average daily volume of 2,591,512 shares. The stock had previously closed at $1.62.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Truist Financial upgraded shares of Caribou Biosciences to a “strong-buy” rating in a research report on Wednesday, March 25th. HC Wainwright upped their price target on shares of Caribou Biosciences from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caribou Biosciences in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Caribou Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $8.67.

Caribou Biosciences Stock Down 1.8%

The company has a 50-day moving average price of $1.87 and a 200-day moving average price of $1.84. The company has a market capitalization of $161.66 million, a price-to-earnings ratio of -1.15 and a beta of 2.36.

Caribou Biosciences (NASDAQ:CRBU) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.07. Caribou Biosciences had a negative net margin of 1,189.14% and a negative return on equity of 84.17%. The business had revenue of $2.40 million during the quarter, compared to analyst estimates of $2.21 million. Equities analysts expect that Caribou Biosciences, Inc. will post -1.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Caribou Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the business. Sei Investments Co. bought a new position in shares of Caribou Biosciences during the 1st quarter worth about $59,000. Invesco Ltd. raised its position in Caribou Biosciences by 187.2% in the fourth quarter. Invesco Ltd. now owns 35,063 shares of the company’s stock worth $56,000 after purchasing an additional 22,856 shares in the last quarter. Man Group plc acquired a new position in Caribou Biosciences in the fourth quarter worth about $58,000. Russell Investments Group Ltd. lifted its stake in Caribou Biosciences by 80.0% during the fourth quarter. Russell Investments Group Ltd. now owns 24,347 shares of the company’s stock worth $39,000 after purchasing an additional 10,824 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new stake in Caribou Biosciences during the second quarter valued at approximately $30,000. 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.