Caribou Biosciences (NASDAQ:CRBU) Issues Quarterly Earnings Results

Key Points

• Caribou Biosciences beat earnings and revenue expectations for the quarter, reporting EPS of -$0.26 versus the -$0.33 consensus estimate and revenue of $2.40 million versus $2.21 million expected.
• The stock traded up 3.2% to $1.94 after the report, with shares moving within a 52-week range of $0.75 to $3.54 and a market cap of about $191.4 million.
• Analyst views are mixed but lean constructive, with a consensus rating of “Moderate Buy” and an average price target of $8.00, despite one sell rating and the company’s ongoing negative profitability metrics.

Caribou Biosciences (NASDAQ:CRBU - Get Free Report) posted its quarterly earnings results on Thursday. The company reported ($0.26) EPS for the quarter, topping analysts' consensus estimates of ($0.33) by $0.07, FiscalAI reports. Caribou Biosciences had a negative return on equity of 78.10% and a negative net margin of 1,189.14%.The company had revenue of $2.40 million during the quarter, compared to analysts' expectations of $2.21 million.

Caribou Biosciences Trading Up 3.2%

NASDAQ:CRBU traded up $0.06 during mid-day trading on Friday, hitting $1.94. 891,799 shares of the company's stock were exchanged, compared to its average volume of 1,534,205. Caribou Biosciences has a fifty-two week low of $0.75 and a fifty-two week high of $3.54. The firm has a market capitalization of $191.44 million, a P/E ratio of -1.37 and a beta of 2.27. The company has a 50 day simple moving average of $1.96 and a 200-day simple moving average of $1.87.

Hedge Funds Weigh In On Caribou Biosciences

Large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Caribou Biosciences by 3.4% during the third quarter. Vanguard Group Inc. now owns 4,226,926 shares of the company's stock worth $9,849,000 after purchasing an additional 137,060 shares during the period. Millennium Management LLC raised its position in Caribou Biosciences by 107.4% during the 3rd quarter. Millennium Management LLC now owns 3,216,535 shares of the company's stock worth $7,495,000 after purchasing an additional 1,665,946 shares during the last quarter. Renaissance Technologies LLC raised its position in Caribou Biosciences by 110.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,639,857 shares of the company's stock worth $2,607,000 after purchasing an additional 859,436 shares during the last quarter. Bank of America Corp DE lifted its holdings in Caribou Biosciences by 32.8% during the 3rd quarter. Bank of America Corp DE now owns 1,074,442 shares of the company's stock worth $2,503,000 after buying an additional 265,542 shares during the period. Finally, Marshall Wace LLP lifted its holdings in Caribou Biosciences by 600.2% during the 4th quarter. Marshall Wace LLP now owns 881,105 shares of the company's stock worth $1,401,000 after buying an additional 755,261 shares during the period. Institutional investors own 77.51% of the company's stock.

Wall Street Analyst Weigh In

CRBU has been the topic of several research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Caribou Biosciences in a report on Monday, April 20th. HC Wainwright reissued a "buy" rating and issued a $9.00 price objective on shares of Caribou Biosciences in a research note on Tuesday, April 7th. Finally, Truist Financial upgraded shares of Caribou Biosciences to a "strong-buy" rating in a research report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.00.

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.

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