Caribou Biosciences, Inc. (NASDAQ:CRBU) Short Interest Update

Caribou Biosciences, Inc. (NASDAQ:CRBU) was the recipient of a large drop in short interest during the month of August. As of August 15th, there was short interest totalling 11,520,000 shares, a drop of 7.3% from the July 31st total of 12,430,000 shares. Currently, 14.4% of the company’s stock are sold short. Based on an average daily trading volume, of 2,170,000 shares, the short-interest ratio is currently 5.3 days.

Analysts Set New Price Targets

Several research analysts have weighed in on CRBU shares. Evercore ISI cut Caribou Biosciences from an “outperform” rating to an “inline” rating and cut their price objective for the stock from $13.00 to $3.00 in a research report on Monday, June 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $14.00 price target on shares of Caribou Biosciences in a report on Wednesday, August 7th. HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of Caribou Biosciences in a report on Tuesday. Finally, Truist Financial reiterated a “buy” rating and issued a $19.00 target price on shares of Caribou Biosciences in a research note on Thursday, May 16th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Caribou Biosciences Stock Down 8.3 %

Caribou Biosciences stock traded down $0.18 during midday trading on Tuesday, reaching $1.98. The stock had a trading volume of 1,246,110 shares, compared to its average volume of 1,875,648. The firm has a market capitalization of $178.83 million, a PE ratio of -1.43 and a beta of 2.30. Caribou Biosciences has a 12 month low of $1.50 and a 12 month high of $8.33. The firm’s 50-day moving average price is $2.04 and its 200 day moving average price is $3.52.

Caribou Biosciences (NASDAQ:CRBU) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.04. The company had revenue of $3.46 million for the quarter, compared to analyst estimates of $3.31 million. Caribou Biosciences had a negative net margin of 372.78% and a negative return on equity of 34.76%. Equities research analysts expect that Caribou Biosciences will post -1.76 EPS for the current year.

Hedge Funds Weigh In On Caribou Biosciences

A number of large investors have recently made changes to their positions in the stock. Avidity Partners Management LP lifted its holdings in Caribou Biosciences by 5.1% during the 4th quarter. Avidity Partners Management LP now owns 6,360,212 shares of the company’s stock worth $36,444,000 after purchasing an additional 310,000 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Caribou Biosciences by 3.8% in the first quarter. Vanguard Group Inc. now owns 4,110,795 shares of the company’s stock worth $21,129,000 after buying an additional 148,751 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Caribou Biosciences by 25.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,623,283 shares of the company’s stock valued at $4,302,000 after acquiring an additional 536,162 shares during the period. Renaissance Technologies LLC purchased a new position in Caribou Biosciences during the second quarter valued at approximately $2,432,000. Finally, Wellington Management Group LLP increased its holdings in Caribou Biosciences by 57.7% during the 4th quarter. Wellington Management Group LLP now owns 314,080 shares of the company’s stock worth $1,800,000 after acquiring an additional 114,975 shares during the period. 77.51% of the stock is owned by institutional investors.

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.