Caribou Biosciences (NASDAQ:CRBU) Given New $6.00 Price Target at Citigroup

Caribou Biosciences (NASDAQ:CRBU) had its target price reduced by Citigroup from $30.00 to $6.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also commented on CRBU. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Caribou Biosciences in a report on Friday, November 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $14.00 price target on shares of Caribou Biosciences in a research report on Wednesday, August 7th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $10.20.

Caribou Biosciences Price Performance

Shares of CRBU opened at $2.20 on Tuesday. The firm has a market capitalization of $199.22 million, a PE ratio of -1.33 and a beta of 2.26. The company’s 50-day moving average is $2.04 and its 200-day moving average is $2.14. Caribou Biosciences has a fifty-two week low of $1.50 and a fifty-two week high of $8.33.

Caribou Biosciences (NASDAQ:CRBU) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.06. Caribou Biosciences had a negative net margin of 1,290.81% and a negative return on equity of 45.46%. The firm had revenue of $2.02 million during the quarter, compared to the consensus estimate of $3.37 million. Analysts predict that Caribou Biosciences will post -1.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Erste Asset Management GmbH acquired a new stake in Caribou Biosciences during the third quarter worth about $28,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Caribou Biosciences by 63.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 17,380 shares of the company’s stock worth $34,000 after acquiring an additional 6,768 shares in the last quarter. AQR Capital Management LLC bought a new position in Caribou Biosciences in the second quarter valued at approximately $30,000. Intech Investment Management LLC acquired a new position in Caribou Biosciences during the third quarter valued at approximately $43,000. Finally, Bayesian Capital Management LP bought a new stake in Caribou Biosciences during the first quarter worth $151,000. Institutional investors own 77.51% of the company’s stock.

Caribou Biosciences Company Profile

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.