Caribou Biosciences, Inc. (NASDAQ:CRBU) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Caribou Biosciences, Inc. (NASDAQ:CRBU) has received an average recommendation of “Moderate Buy” from the five research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $7.75.

CRBU has been the subject of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Caribou Biosciences in a research note on Friday, July 17th. Wall Street Zen downgraded Caribou Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Finally, 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 research note on Friday, August 14th.

Caribou Biosciences Stock Down 0.8%

Shares of Caribou Biosciences stock opened at $1.24 on Friday. The company has a 50 day moving average price of $1.52 and a 200 day moving average price of $1.79. The firm has a market capitalization of $132.94 million, a P/E ratio of -1.15 and a beta of 2.28. Caribou Biosciences has a 52 week low of $1.22 and a 52 week high of $3.54.

Caribou Biosciences (NASDAQ:CRBU) last released its earnings results on Thursday, August 13th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.50 million for the quarter, compared to the consensus estimate of $2.28 million. As a group, research analysts anticipate that Caribou Biosciences will post -0.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Spark Investment Management LLC purchased a new position in shares of Caribou Biosciences during the second quarter worth $42,000. Public Employees Retirement System of Ohio purchased a new stake in Caribou Biosciences in the second quarter valued at $69,000. Bank of America Corp DE acquired a new stake in Caribou Biosciences during the 2nd quarter worth about $2,483,000. Man Group plc acquired a new stake in Caribou Biosciences during the 2nd quarter worth about $423,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Caribou Biosciences during the 2nd quarter valued at about $62,000. 77.51% of the stock is owned by institutional investors and hedge funds.

Caribou Biosciences Company Profile

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.