Caribou Biosciences (NASDAQ:CRBU) Posts Earnings Results, Beats Expectations By $0.02 EPS

Caribou Biosciences (NASDAQ:CRBU) issued its earnings results on Thursday. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.02, FiscalAI reports. 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 $1.61 million during the quarter, compared to analyst estimates of $1.60 million.

Caribou Biosciences Stock Up 8.8%

NASDAQ:CRBU traded up $0.04 during trading hours on Friday, reaching $0.45. 1,699,805 shares of the stock were exchanged, compared to its average volume of 6,005,073. Caribou Biosciences has a twelve month low of $0.40 and a twelve month high of $2.49. The business has a 50-day moving average of $0.95 and a two-hundred day moving average of $1.60. The company has a market capitalization of $48.11 million, a price-to-earnings ratio of -0.44 and a beta of 2.50.

Wall Street Analyst Weigh In

Several research firms have weighed in on CRBU. Wall Street Zen downgraded shares of Caribou Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Brookline Capital Markets cut shares of Caribou Biosciences from a “buy” rating to a “hold” rating in a report on Wednesday, October 7th. Bank of America lowered their price objective on shares of Caribou Biosciences from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Royal Bank Of Canada lowered shares of Caribou Biosciences from an “outperform” rating to a “sector perform” rating and set a $1.00 price objective on the stock. in a report on Wednesday, October 7th. Finally, Leerink Partners downgraded Caribou Biosciences from an “outperform” rating to a “market perform” rating and cut their target price for the company from $4.00 to $1.00 in a research report on Wednesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $4.50.

Caribou Biosciences Company Profile

Caribou Biosciences, Inc is a clinical-stage biotechnology company developing genome-edited cell therapies for cancer and other serious diseases. The company uses CRISPR gene-editing technology to engineer allogeneic, or “off-the-shelf,” immune-cell therapies designed to target cancer cells while reducing limitations associated with individualized cell treatments.

Caribou’s research platform is based on CRISPR hybrid RNA-DNA guide technology, which is intended to support precise and efficient genome editing.