Caribou Biosciences (NASDAQ:CRBU) Rating Lowered to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Caribou Biosciences from “Hold” to “Sell,” although the broader analyst consensus remains “Moderate Buy” with a $7.75 price target.
• CRBU opened at $1.30, near its 52-week low of $1.25, and has a market capitalization of approximately $139.4 million. The company remains unprofitable, with a negative net margin of 1,030.42%.
• Caribou reported a quarterly loss of $0.24 per share, better than the expected $0.32 loss, but revenue of $1.5 million fell short of the $2.28 million estimate. Institutional investors own 77.51% of the stock, with BlackRock recently acquiring a significant position.

Caribou Biosciences (NASDAQ:CRBU - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other analysts have also recently issued research reports about the stock. Bank of America lowered their target price 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 restated a "sell (d-)" rating on shares of Caribou Biosciences in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Caribou Biosciences has an average rating of "Moderate Buy" and a consensus price target of $7.75.

Caribou Biosciences Price Performance

CRBU opened at $1.30 on Friday. Caribou Biosciences has a fifty-two week low of $1.25 and a fifty-two week high of $3.54. The firm's fifty day moving average price is $1.57 and its two-hundred day moving average price is $1.81. The company has a market capitalization of $139.37 million, a P/E ratio of -1.20 and a beta of 2.28.

Caribou Biosciences (NASDAQ:CRBU - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.32) by $0.08. The company had revenue of $1.50 million during the quarter, compared to analysts' expectations 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 research analysts expect that Caribou Biosciences will post -0.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CRBU. BlackRock Inc. acquired a new stake in shares of Caribou Biosciences during the 2nd quarter worth about $13,756,000. Renaissance Technologies LLC boosted its position in Caribou Biosciences by 58.0% in the first quarter. Renaissance Technologies LLC now owns 2,590,497 shares of the company's stock valued at $4,922,000 after buying an additional 950,640 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Caribou Biosciences in the second quarter valued at about $816,000. Green Alpha Advisors LLC bought a new stake in Caribou Biosciences during the second quarter worth about $641,000. Finally, Hsbc Holdings PLC bought a new stake in Caribou Biosciences during the second quarter worth about $62,000. 77.51% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.