Caribou Biosciences (NASDAQ:CRBU) Stock Dropped to Neutral by HC Wainwright

Caribou Biosciences (NASDAQ:CRBU) was downgraded by investment analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a report issued on Thursday, MarketBeat.com reports.

Several other equities research analysts have also recently commented on the stock. Royal Bank Of Canada cut shares of Caribou Biosciences from an “outperform” rating to a “sector perform” rating and set a $1.00 price target for the company. in a research report on Wednesday. Wall Street Zen cut shares of Caribou Biosciences from a “hold” rating to a “sell” rating in a 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. Bank of America decreased their price objective on shares of Caribou Biosciences from $6.00 to $5.00 and set a “buy” rating for the company in a report on Friday, August 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Caribou Biosciences in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Caribou Biosciences has a consensus rating of “Hold” and an average target price of $5.50.

Caribou Biosciences Trading Down 45.6%

CRBU opened at $0.62 on Thursday. The stock has a market capitalization of $66.19 million, a PE ratio of -0.57 and a beta of 2.31. Caribou Biosciences has a 1-year low of $0.55 and a 1-year high of $3.54. The firm has a 50-day moving average price of $1.45 and a two-hundred day moving average price of $1.75.

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

Institutional Trading of Caribou Biosciences

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Caribou Biosciences in the second quarter worth $13,756,000. Renaissance Technologies LLC lifted its position in shares of Caribou Biosciences by 58.0% in the first quarter. Renaissance Technologies LLC now owns 2,590,497 shares of the company’s stock worth $4,922,000 after purchasing an additional 950,640 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of Caribou Biosciences in the second quarter worth $2,483,000. GSA Capital Partners LLP bought a new stake in shares of Caribou Biosciences in the second quarter worth $816,000. Finally, Green Alpha Advisors LLC bought a new stake in shares of Caribou Biosciences in the second quarter worth $641,000. Institutional investors own 77.51% of the company’s stock.

Caribou Biosciences News Roundup

Here are the key news stories impacting Caribou Biosciences this week:

• Positive Sentiment: Caribou is evaluating strategic alternatives intended to maximize stockholder value. A sale, merger or other transaction could potentially provide value beyond the company’s standalone prospects, although there is no assurance that a transaction will occur. Caribou Biosciences to Evaluate Strategic Alternatives
• Neutral Sentiment: Leerink Partners downgraded CRBU from “outperform” to “market perform” but assigned a $1.00 price target, which remains above the stock’s recent $0.62 reference price. Brookline Capital Markets also maintained a “hold” rating. Leerink Partners Downgrades Caribou Biosciences
• Negative Sentiment: The company plans to halt two key CAR-T programs and cut its workforce, materially reducing its clinical pipeline and future growth prospects. The decision followed challenges in advancing its off-the-shelf cell-therapy strategy and was the primary catalyst for the recent selloff. Caribou Biosciences To Halt Two CAR-T Programs
• Negative Sentiment: RBC downgraded Caribou from “outperform” to “sector perform” and slashed its price target from $10 to $1 while retaining a speculative-risk designation. The downgrade reflects reduced confidence in the company’s development pipeline and heightened uncertainty surrounding the strategic review. RBC Downgrades Caribou Biosciences
• Negative Sentiment: Investor reaction has been sharply negative, with reports describing a roughly 40% or greater plunge in the shares following the program cancellations. CRBU remains an unprofitable biotechnology company, increasing its dependence on a successful strategic transaction or future pipeline restart. Caribou Shares Fall After Plans to Evaluate Strategic Alternatives

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 its proprietary CRISPR-based chRDNA genome-editing platform to engineer immune cells, with an emphasis on allogeneic, or “off-the-shelf,” CAR-T therapies designed to target tumors without requiring cells to be collected from each individual patient.

Caribou’s research and development programs have focused primarily on hematologic malignancies, including investigational CAR-T candidates directed at targets such as CD19 and BCMA.