Caribou Biosciences (NASDAQ:CRBU) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Caribou Biosciences (NASDAQ:CRBU) issued its quarterly earnings results on Thursday. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.08, FiscalAI reports. The company had revenue of $1.50 million during the quarter, compared to the consensus estimate of $2.28 million. Caribou Biosciences had a negative net margin of 1,189.14% and a negative return on equity of 84.17%.

Caribou Biosciences Stock Down 5.3%

Shares of NASDAQ:CRBU traded down $0.09 during trading on Thursday, hitting $1.61. 1,131,465 shares of the company were exchanged, compared to its average volume of 1,560,761. Caribou Biosciences has a 1-year low of $1.38 and a 1-year high of $3.54. The company has a market capitalization of $159.68 million, a P/E ratio of -1.13 and a beta of 2.38. The business’s 50 day moving average is $1.70 and its 200-day moving average is $1.84.

Institutional Investors Weigh In On Caribou Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of CRBU. Russell Investments Group Ltd. lifted its stake in Caribou Biosciences by 80.0% in the fourth quarter. Russell Investments Group Ltd. now owns 24,347 shares of the company’s stock valued at $39,000 after buying an additional 10,824 shares during the period. Creative Planning bought a new position in shares of Caribou Biosciences during the 2nd quarter worth approximately $25,000. Invesco Ltd. grew its position in shares of Caribou Biosciences by 187.2% during the 4th quarter. Invesco Ltd. now owns 35,063 shares of the company’s stock worth $56,000 after buying an additional 22,856 shares during the period. Hudson Bay Capital Management LP bought a new stake in shares of Caribou Biosciences in the 2nd quarter valued at $30,000. Finally, Credit Agricole S A bought a new stake in shares of Caribou Biosciences in the 3rd quarter valued at $68,000. Institutional investors own 77.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CRBU. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caribou Biosciences in a report on Friday, July 17th. HC Wainwright raised their price objective on Caribou Biosciences from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $8.67.

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.