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

Wall Street Zen lowered shares of Caribou Biosciences (NASDAQ:CRBU) from a hold rating to a sell rating in a research report released on Saturday,Wall Street Zen reports.

Several other equities analysts have also issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caribou Biosciences in a report on Friday, July 17th. Bank of America reduced their target price on Caribou Biosciences from $6.00 to $5.00 and set a “buy” rating for the company in a report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Caribou Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.75.

Caribou Biosciences Stock Performance

Shares of Caribou Biosciences stock opened at $1.30 on Friday. The company has a fifty day simple moving average of $1.56 and a 200-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. The stock has a market cap of $139.37 million, a price-to-earnings ratio of -1.20 and a beta of 2.28.

Caribou Biosciences (NASDAQ:CRBU) last posted its earnings results on Thursday, August 13th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.08. Caribou Biosciences had a negative net margin of 1,030.42% and a negative return on equity of 89.11%. The firm had revenue of $1.50 million for the quarter, compared to the consensus estimate of $2.28 million. On average, analysts forecast that Caribou Biosciences will post -0.88 earnings per share for the current fiscal year.

Institutional Trading of Caribou Biosciences

A number of large investors have recently bought and sold shares of the business. Spark Investment Management LLC purchased a new position in Caribou Biosciences during the 2nd quarter worth $42,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Caribou Biosciences in the second quarter valued at about $69,000. Bank of America Corp DE purchased a new stake in shares of Caribou Biosciences in the second quarter valued at about $2,483,000. Man Group plc acquired a new stake in shares of Caribou Biosciences during the second quarter worth about $423,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Caribou Biosciences during the second quarter worth about $62,000. Institutional investors and hedge funds own 77.51% of the company’s stock.

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.