Brokerages Set Caribou Biosciences, Inc. (NASDAQ:CRBU) Price Target at $7.75

Caribou Biosciences, Inc. (NASDAQ:CRBU) has earned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $7.75.

A number of analysts have recently issued reports on CRBU shares. Bank of America dropped their price objective on shares of Caribou Biosciences from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caribou Biosciences in a report on Friday, July 17th. Finally, Wall Street Zen lowered Caribou Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th.

Institutional Trading of Caribou Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the company. CTC Alternative Strategies Ltd. bought a new position in shares of Caribou Biosciences in the 1st quarter worth about $29,000. Westmount Partners LLC bought a new stake in shares of Caribou Biosciences during the 1st quarter valued at about $37,000. Next Capital Management LLC bought a new stake in shares of Caribou Biosciences during the 2nd quarter valued at about $35,000. The Manufacturers Life Insurance Company acquired a new stake in Caribou Biosciences during the second quarter worth about $41,000. Finally, Spark Investment Management LLC acquired a new stake in Caribou Biosciences during the second quarter worth about $42,000. Institutional investors and hedge funds own 77.51% of the company’s stock.

Caribou Biosciences Trading Down 3.7%

Shares of Caribou Biosciences stock opened at $1.29 on Friday. Caribou Biosciences has a twelve month low of $1.25 and a twelve month high of $3.54. The stock has a market cap of $138.30 million, a price-to-earnings ratio of -1.19 and a beta of 2.28. The company has a fifty day moving average price of $1.54 and a 200 day moving average price of $1.80.

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

Caribou Biosciences Company Profile

Caribou Biosciences, Inc is a clinical-stage biotechnology company developing genome-edited cell therapies for the treatment of cancer. The company uses its CRISPR-based chRDNA™ technology platform to make targeted genetic modifications to immune cells, with the goal of creating more effective and scalable therapies.

Caribou’s pipeline has focused primarily on allogeneic, or “off-the-shelf,” CAR-T cell therapies. Its investigational programs have included CB-010, an anti-CD19 CAR-T therapy designed for certain blood cancers, as well as additional programs targeting diseases such as multiple myeloma and acute myeloid leukemia.