Caribou Biosciences, Inc. (NASDAQ:CRBU) Stock Has Average Price Target of $5.50

Shares of Caribou Biosciences, Inc. (NASDAQ:CRBU) have received a consensus rating of “Hold” from the eight brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $5.50.

Several equities analysts recently issued reports on CRBU shares. HC Wainwright downgraded shares of Caribou Biosciences from a “buy” rating to a “neutral” rating in a research note on Thursday, October 8th. Brookline Capital Markets lowered shares of Caribou Biosciences from a “buy” rating to a “hold” rating in a research report on Wednesday, October 7th. Bank of America cut their price target on Caribou Biosciences from $6.00 to $5.00 and set a “buy” rating for the company in a report on Friday, August 14th. Royal Bank Of Canada lowered Caribou Biosciences from an “outperform” rating to a “sector perform” rating and set a $1.00 price target on the stock. in a research note on Wednesday, October 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caribou Biosciences in a research report on Thursday.

Institutional Investors Weigh In On Caribou Biosciences

Several hedge funds have recently modified their holdings of the stock. Green Alpha Advisors LLC increased its holdings in shares of Caribou Biosciences by 51.4% during the 3rd quarter. Green Alpha Advisors LLC now owns 551,445 shares of the company’s stock worth $700,000 after buying an additional 187,121 shares during the last quarter. Spark Investment Management LLC acquired a new stake in Caribou Biosciences during the second quarter worth about $42,000. Public Employees Retirement System of Ohio purchased a new position in shares of Caribou Biosciences in the 2nd quarter worth about $69,000. Bank of America Corp DE acquired a new position in shares of Caribou Biosciences in the 2nd quarter valued at about $2,483,000. Finally, Man Group plc acquired a new position in shares of Caribou Biosciences in the 2nd quarter valued at about $423,000. 77.51% of the stock is owned by institutional investors and hedge funds.

Caribou Biosciences Stock Performance

Caribou Biosciences stock opened at $0.47 on Wednesday. The stock has a fifty day moving average of $1.30 and a two-hundred day moving average of $1.68. The company has a market capitalization of $50.38 million, a price-to-earnings ratio of -0.44 and a beta of 2.31. Caribou Biosciences has a fifty-two week low of $0.44 and a fifty-two week high of $3.54.

Caribou Biosciences (NASDAQ:CRBU) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.08. Caribou Biosciences had a negative return on equity of 89.11% and a negative net margin of 1,030.42%. The business had revenue of $1.50 million for the quarter, compared to the consensus estimate of $2.28 million. On average, analysts forecast that Caribou Biosciences will post -1.07 EPS for the current fiscal year.

About Caribou Biosciences

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.