Caribou Biosciences, Inc. (NASDAQ:CRBU) Sees Significant Drop in Short Interest

Caribou Biosciences, Inc. (NASDAQ:CRBU) saw a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 8,820,000 shares, a drop of 13.7% from the February 28th total of 10,220,000 shares. Based on an average daily volume of 1,290,000 shares, the short-interest ratio is presently 6.8 days. Currently, 10.9% of the company’s stock are short sold.

Institutional Trading of Caribou Biosciences

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in Caribou Biosciences by 475.9% in the 4th quarter. JPMorgan Chase & Co. now owns 2,495,922 shares of the company’s stock valued at $3,969,000 after acquiring an additional 2,062,563 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of Caribou Biosciences in the fourth quarter valued at about $1,921,000. Schonfeld Strategic Advisors LLC lifted its stake in shares of Caribou Biosciences by 28.4% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 2,113,272 shares of the company’s stock worth $3,360,000 after buying an additional 467,738 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Caribou Biosciences by 39.5% during the 4th quarter. Two Sigma Advisers LP now owns 1,470,700 shares of the company’s stock worth $2,338,000 after buying an additional 416,600 shares during the period. Finally, Ameriprise Financial Inc. acquired a new position in Caribou Biosciences in the 4th quarter valued at about $649,000. 77.51% of the stock is owned by institutional investors and hedge funds.

Caribou Biosciences Price Performance

NASDAQ CRBU traded down $0.07 on Thursday, hitting $0.79. 208,542 shares of the stock were exchanged, compared to its average volume of 1,588,394. The company has a market capitalization of $73.19 million, a PE ratio of -0.48 and a beta of 2.34. The business’s fifty day moving average is $1.19 and its 200 day moving average is $1.68. Caribou Biosciences has a 52 week low of $0.72 and a 52 week high of $4.92.

Caribou Biosciences (NASDAQ:CRBU) last issued its earnings results on Monday, March 10th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. Caribou Biosciences had a negative net margin of 1,290.81% and a negative return on equity of 45.46%. The company had revenue of $2.08 million for the quarter, compared to analysts’ expectations of $2.11 million. Analysts predict that Caribou Biosciences will post -1.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on CRBU. Bank of America reduced their target price on shares of Caribou Biosciences from $13.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Caribou Biosciences in a report on Wednesday, March 19th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Caribou Biosciences currently has a consensus rating of “Buy” and a consensus price target of $10.33.

About Caribou Biosciences

Caribou Biosciences, Inc, a clinical-stage biopharmaceutical company, engages in the development of genome-edited allogeneic cell therapies for the treatment of hematologic malignancies in the United States and internationally. Its lead product candidate is CB-010, an allogeneic anti-CD19 CAR-T cell therapy that is in phase 1 clinical trial to treat relapsed or refractory B cell non-Hodgkin lymphoma.