Caribou Biosciences (NASDAQ:CRBU) Upgraded by Truist Financial to “Strong-Buy” Rating

Truist Financial upgraded shares of Caribou Biosciences (NASDAQ:CRBU) to a strong-buy rating in a report released on Wednesday morning,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Caribou Biosciences in a research report on Wednesday, January 21st. One equities 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.00.

Caribou Biosciences Stock Up 3.3%

CRBU stock opened at $1.88 on Wednesday. The business’s 50-day moving average price is $1.71 and its 200-day moving average price is $1.91. The stock has a market cap of $181.68 million, a P/E ratio of -1.18 and a beta of 2.54. Caribou Biosciences has a twelve month low of $0.66 and a twelve month high of $3.54.

Caribou Biosciences (NASDAQ:CRBU) last released its earnings results on Thursday, March 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.05. Caribou Biosciences had a negative net margin of 1,327.40% and a negative return on equity of 78.40%. The company had revenue of $3.94 million during the quarter, compared to analyst estimates of $1.96 million. On average, equities research analysts expect that Caribou Biosciences will post -1.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Caribou Biosciences

A number of hedge funds have recently made changes to their positions in the business. Creative Planning purchased a new stake in shares of Caribou Biosciences during the second quarter worth about $25,000. Bronte Capital Management Pty Ltd. purchased a new position in Caribou Biosciences in the 4th quarter worth approximately $25,000. R Squared Ltd bought a new position in Caribou Biosciences in the 3rd quarter worth approximately $29,000. Hudson Bay Capital Management LP purchased a new stake in Caribou Biosciences during the 2nd quarter valued at approximately $30,000. Finally, Russell Investments Group Ltd. grew its holdings in Caribou Biosciences by 80.0% during the 4th quarter. Russell Investments Group Ltd. now owns 24,347 shares of the company’s stock valued at $39,000 after buying an additional 10,824 shares in the last quarter. Institutional investors own 77.51% of the company’s stock.

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.