Caribou Biosciences (NASDAQ:CRBU) Price Target Cut to $5.00 by Analysts at Bank of America

Key Points

• Bank of America cut Caribou Biosciences’ price target to $5.00 from $6.00 while maintaining a “buy” rating, implying roughly 215% upside from the stock’s $1.58 price.
• Analyst sentiment remains mixed but leans positive: Caribou has an average “Moderate Buy” rating and a consensus price target of $7.75, despite one “sell” rating.
• The company posted a quarterly loss of $0.24 per share, better than the $0.32 consensus estimate, but revenue of $1.5 million fell short of expectations; institutional investors own 77.51% of shares.

Caribou Biosciences (NASDAQ:CRBU - Get Free Report) had its price objective decreased by analysts at Bank of America from $6.00 to $5.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Bank of America's price objective would indicate a potential upside of 215.46% from the company's current price.

Several other research firms have also commented on CRBU. Weiss Ratings reissued a "sell (d-)" rating on shares of Caribou Biosciences in a research note on Friday, July 17th. HC Wainwright increased their target price on shares of Caribou Biosciences from $9.00 to $11.00 and gave the stock a "buy" rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $7.75.

Caribou Biosciences Trading Down 1.6%

CRBU traded down $0.03 during mid-day trading on Friday, hitting $1.58. 956,981 shares of the stock were exchanged, compared to its average volume of 1,556,836. The firm's fifty day moving average is $1.69 and its two-hundred day moving average is $1.84. Caribou Biosciences has a 1-year low of $1.38 and a 1-year high of $3.54. The company has a market cap of $157.20 million, a PE ratio of -1.12 and a beta of 2.38.

Caribou Biosciences (NASDAQ:CRBU - Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.08. The company had revenue of $1.50 million during the quarter, compared to the consensus estimate of $2.28 million. Caribou Biosciences had a negative return on equity of 84.17% and a negative net margin of 1,189.14%. As a group, research analysts anticipate that Caribou Biosciences will post -1.15 earnings per share for the current year.

Institutional Investors Weigh In On Caribou Biosciences

Hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its holdings in shares of Caribou Biosciences by 58.0% in the 1st 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. Westmount Partners LLC acquired a new position in shares of Caribou Biosciences during the first quarter worth $37,000. Nano Cap New Millennium Growth Fund L P purchased a new position in Caribou Biosciences in the fourth quarter valued at $179,000. Bronte Capital Management Pty Ltd. purchased a new position in Caribou Biosciences in the fourth quarter valued at $25,000. Finally, Milestone Asset Management LLC raised its stake in Caribou Biosciences by 31.7% in the fourth quarter. Milestone Asset Management LLC now owns 231,799 shares of the company's stock valued at $369,000 after buying an additional 55,832 shares in the last quarter. Institutional investors and hedge funds 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.

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