Bank of America Lowers Caribou Biosciences (NASDAQ:CRBU) Price Target to $11.00

Caribou Biosciences (NASDAQ:CRBU) had its price objective reduced by equities researchers at Bank of America from $13.00 to $11.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 480.47% from the company’s current price.

Other equities analysts also recently issued reports about the stock. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Caribou Biosciences in a research note on Friday, November 15th. Citigroup lowered their target price on Caribou Biosciences from $30.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $10.33.

Caribou Biosciences Stock Up 0.8 %

Shares of Caribou Biosciences stock traded up $0.02 during trading on Tuesday, reaching $1.90. 1,088,002 shares of the stock were exchanged, compared to its average volume of 1,302,220. Caribou Biosciences has a 1 year low of $1.50 and a 1 year high of $8.33. The firm has a market cap of $171.60 million, a price-to-earnings ratio of -1.15 and a beta of 2.34. The stock’s fifty day moving average is $2.03 and its 200 day moving average is $2.00.

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

Institutional Trading of Caribou Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC increased its position in Caribou Biosciences by 122.4% during the 3rd quarter. Barclays PLC now owns 129,839 shares of the company’s stock valued at $255,000 after buying an additional 71,463 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Caribou Biosciences by 6.5% during the third quarter. Geode Capital Management LLC now owns 2,030,443 shares of the company’s stock valued at $3,980,000 after acquiring an additional 124,782 shares in the last quarter. Erste Asset Management GmbH purchased a new position in shares of Caribou Biosciences in the 3rd quarter worth about $28,000. PFM Health Sciences LP grew its position in Caribou Biosciences by 5.5% during the 3rd quarter. PFM Health Sciences LP now owns 4,306,671 shares of the company’s stock valued at $8,441,000 after purchasing an additional 223,299 shares during the last quarter. Finally, Walleye Capital LLC increased its stake in Caribou Biosciences by 45.9% during the 3rd quarter. Walleye Capital LLC now owns 237,599 shares of the company’s stock valued at $466,000 after purchasing an additional 74,799 shares in the last quarter. Hedge funds and other institutional investors own 77.51% of the company’s stock.

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.