Caribou Biosciences (NASDAQ:CRBU) Stock Keeps Hold Rating at Brookline Capital Markets

Key Points

• Brookline Capital Markets reiterated a “hold” rating on Caribou Biosciences, while analysts’ average rating remains “Moderate Buy” with an average price target of $5.50. Recent target cuts included Leerink Partners to $1.00 and RBC to $1.00.
• CRBU shares fell 43.1% to $0.65, near the company’s 52-week low of $0.55. The clinical-stage biotech reported a quarterly loss of $0.24 per share, better than estimates, but revenue of $1.5 million missed expectations.
• Institutional ownership stands at 77.51%, with BlackRock, Renaissance Technologies and Bank of America among investors recently buying shares. Caribou develops CRISPR-based, “off-the-shelf” CAR-T cell therapies for cancer and other serious diseases.

Caribou Biosciences (NASDAQ:CRBU - Get Free Report)'s stock had its "hold" rating reiterated by Brookline Capital Markets in a note issued to investors on Wednesday, Benzinga reports.

A number of other equities research analysts have also issued reports on CRBU. Wall Street Zen lowered Caribou Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday, September 19th. Leerink Partners reaffirmed a "market perform" rating and issued a $1.00 price objective (down from $4.00) on shares of Caribou Biosciences in a research report on Wednesday. Bank of America reduced their target price on Caribou Biosciences from $6.00 to $5.00 and set a "buy" rating on the stock in a research note on Friday, August 14th. Royal Bank Of Canada lowered shares of Caribou Biosciences from an "outperform" rating to a "sector perform" rating and set a $1.00 target price for the company. in a research note on Wednesday. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Caribou Biosciences in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Caribou Biosciences has an average rating of "Moderate Buy" and an average price target of $5.50.

Caribou Biosciences Stock Down 43.1%

NASDAQ:CRBU traded down $0.49 during mid-day trading on Wednesday, hitting $0.65. 19,179,505 shares of the stock traded hands, compared to its average volume of 1,568,795. The stock has a market capitalization of $69.26 million, a price-to-earnings ratio of -0.60 and a beta of 2.31. Caribou Biosciences has a 52 week low of $0.55 and a 52 week high of $3.54. The firm's 50 day moving average is $1.47 and its two-hundred day moving average is $1.76.

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, topping the consensus estimate of ($0.32) by $0.08. The business had revenue of $1.50 million during the quarter, compared to the consensus estimate of $2.28 million. Caribou Biosciences had a negative net margin of 1,030.42% and a negative return on equity of 89.11%. As a group, research analysts predict that Caribou Biosciences will post -0.88 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CRBU. BlackRock Inc. purchased a new stake in shares of Caribou Biosciences in the 2nd quarter worth $13,756,000. Renaissance Technologies LLC increased its stake in shares of 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 buying an additional 950,640 shares during the period. Bank of America Corp DE purchased a new position in shares of Caribou Biosciences during the second quarter valued at $2,483,000. GSA Capital Partners LLP bought a new stake in shares of Caribou Biosciences in the second quarter valued at about $816,000. Finally, Green Alpha Advisors LLC bought a new stake in shares of Caribou Biosciences in the second quarter valued at about $641,000. 77.51% of the stock is currently owned by hedge funds and other institutional investors.

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.

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