Caribou Biosciences (NASDAQ:CRBU) Shares Down 0.6% – Here’s What Happened

Caribou Biosciences, Inc. (NASDAQ:CRBU)’s share price fell 0.6% during trading on Tuesday . The company traded as low as $1.73 and last traded at $1.76. 1,308,269 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 2,432,427 shares. The stock had previously closed at $1.77.

Analyst Upgrades and Downgrades

CRBU has been the topic of a number of recent research reports. HC Wainwright raised their target price on Caribou Biosciences from $9.00 to $11.00 and gave the company a “buy” rating in a report on Monday, May 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Caribou Biosciences in a report on Monday, April 20th. Finally, Truist Financial raised shares of Caribou Biosciences to a “strong-buy” rating in a research report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $8.67.

Caribou Biosciences Stock Up 3.4%

The stock has a market cap of $180.51 million, a P/E ratio of -1.28 and a beta of 2.37. The company has a 50-day simple moving average of $1.96 and a two-hundred day simple moving average of $1.82.

Caribou Biosciences (NASDAQ:CRBU) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.07. The business had revenue of $2.40 million during the quarter, compared to analyst estimates of $2.21 million. Caribou Biosciences had a negative return on equity of 84.17% and a negative net margin of 1,189.14%. As a group, sell-side analysts forecast that Caribou Biosciences, Inc. will post -1.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Caribou Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CTC Alternative Strategies Ltd. purchased a new stake in Caribou Biosciences in the first quarter worth approximately $29,000. Bank of America Corp DE raised its stake in shares of Caribou Biosciences by 30.6% in the first quarter. Bank of America Corp DE now owns 1,297,167 shares of the company’s stock worth $2,465,000 after buying an additional 303,981 shares during the period. Renaissance Technologies LLC lifted its holdings in Caribou Biosciences by 58.0% during the first quarter. Renaissance Technologies LLC now owns 2,590,497 shares of the company’s stock valued at $4,922,000 after purchasing an additional 950,640 shares in the last quarter. Sei Investments Co. purchased a new position in shares of Caribou Biosciences during the 1st quarter valued at $59,000. Finally, Westmount Partners LLC bought a new position in shares of Caribou Biosciences in the first quarter worth about $37,000. 77.51% of the stock is owned by institutional investors.

About Caribou Biosciences

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.