Caribou Biosciences (NASDAQ:CRBU) Rating Lowered to “Market Perform” at Leerink Partners

Caribou Biosciences (NASDAQ:CRBU) was downgraded by research analysts at Leerink Partners from an “outperform” rating to a “market perform” rating in a report released on Wednesday, Marketbeat Ratings reports. They currently have a $1.00 price target on the stock. Leerink Partners’ target price indicates a potential upside of 107.81% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Brookline Capital Markets lowered Caribou Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday. Wall Street Zen lowered Caribou Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Caribou Biosciences in a research report on Friday, July 17th. Bank of America dropped their price objective on Caribou Biosciences from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Finally, Royal Bank Of Canada cut Caribou Biosciences from an “outperform” rating to a “sector perform” rating and set a $1.00 price objective for the company. in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $5.50.

Caribou Biosciences Stock Performance

Shares of Caribou Biosciences stock opened at $0.48 on Wednesday. The firm has a market cap of $51.59 million, a P/E ratio of -0.45 and a beta of 2.31. The firm’s 50-day simple moving average is $1.43 and its 200-day simple moving average is $1.74. Caribou Biosciences has a twelve month low of $0.45 and a twelve month high of $3.54.

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

Institutional Inflows and Outflows

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

More Caribou Biosciences News

Here are the key news stories impacting Caribou Biosciences this week:

• Neutral Sentiment: Leerink Partners downgraded Caribou from “outperform” to “market perform” and set a $1 price target. Although the target implies substantial potential upside from recent levels, the rating change signals reduced confidence in the company’s near-term prospects. Leerink Partners Downgrades Caribou Biosciences to Market Perform
• Negative Sentiment: HC Wainwright & Co. cut its rating from “buy” to “neutral,” adding to the growing analyst caution surrounding Caribou’s pipeline and strategic direction. HC Wainwright Downgrades Caribou Biosciences
• Negative Sentiment: RBC downgraded Caribou from “outperform” to “sector perform” and slashed its price target to $1 from $10, retaining a speculative-risk designation. The steep target reduction reflects the expected impact of abandoning key development programs. RBC Downgrades Caribou Biosciences
• Negative Sentiment: Caribou said it would halt two CAR-T programs and cut its workforce, actions that raise questions about the company’s remaining pipeline and future operating strategy. Caribou to Halt CAR-T Programs and Cut Workforce
• Negative Sentiment: The company’s decision to explore strategic alternatives and discontinue CAR-T programs triggered a sharp selloff, while Brookline Capital Markets separately downgraded the shares from “buy” to “hold.” Caribou Shares Fall After Strategic Review
• Negative Sentiment: Coverage characterizing the company’s off-the-shelf cell-therapy effort as reaching the “end of the road” reinforces concerns that Caribou’s clinical strategy has materially narrowed. Caribou’s Cell-Therapy Strategy

Caribou Biosciences Company Profile

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.