Caribou Biosciences (NASDAQ:CRBU) Issues Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Caribou Biosciences (NASDAQ:CRBU) announced its earnings results on Thursday. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.07, FiscalAI reports. The business had revenue of $2.40 million for the quarter, compared to analysts’ expectations of $2.21 million. Caribou Biosciences had a negative return on equity of 78.10% and a negative net margin of 1,189.14%.

Caribou Biosciences Trading Up 3.2%

NASDAQ CRBU traded up $0.06 during trading hours on Friday, hitting $1.94. 891,799 shares of the company’s stock were exchanged, compared to its average volume of 1,534,205. The firm has a market cap of $191.44 million, a price-to-earnings ratio of -1.37 and a beta of 2.27. The stock has a 50-day simple moving average of $1.96 and a 200 day simple moving average of $1.87. Caribou Biosciences has a 1-year low of $0.75 and a 1-year high of $3.54.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Caribou Biosciences in a research report on Monday, April 20th. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Caribou Biosciences in a research note on Tuesday, April 7th. Finally, Truist Financial upgraded shares of Caribou Biosciences to a “strong-buy” rating in a report on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Caribou Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

Hedge Funds Weigh In On Caribou Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of CRBU. Creative Planning acquired a new stake in shares of Caribou Biosciences during the 2nd quarter worth approximately $25,000. Hudson Bay Capital Management LP acquired a new position in shares of Caribou Biosciences during the 2nd quarter valued at $30,000. Russell Investments Group Ltd. boosted its stake in Caribou Biosciences by 80.0% during the fourth quarter. Russell Investments Group Ltd. now owns 24,347 shares of the company’s stock worth $39,000 after acquiring an additional 10,824 shares in the last quarter. Invesco Ltd. grew its holdings in Caribou Biosciences by 187.2% in the fourth quarter. Invesco Ltd. now owns 35,063 shares of the company’s stock worth $56,000 after purchasing an additional 22,856 shares during the period. Finally, Man Group plc acquired a new stake in Caribou Biosciences in the fourth quarter worth $58,000. 77.51% of the stock is currently owned by institutional investors.

Caribou Biosciences Company Profile

Caribou Biosciences, Inc is a clinical-stage biopharmaceutical company that leverages its proprietary CRISPR-Cas gene-editing platform to develop transformative cell therapies and in vivo treatments for a range of cancers and genetic diseases. The company’s core technology enables precise modification of cellular genomes, allowing the design of engineered T-cell and NK-cell therapies aimed at improving safety, efficacy and persistence in patients with hematologic and solid tumor malignancies. Alongside its oncology portfolio, Caribou is advancing in vivo editing programs targeting monogenic disorders, with initiatives in areas such as Duchenne muscular dystrophy and familial amyloidosis.

Established in 2011 and headquartered in Berkeley, California, Caribou Biosciences was co-founded by Nobel laureate Jennifer Doudna, one of the pioneers of CRISPR gene-editing technology.