Caribou Biosciences (NASDAQ:CRBU) Releases Earnings Results, Beats Expectations By $0.08 EPS

Key Points

• Caribou Biosciences beat earnings expectations, reporting a quarterly loss of $0.24 per share versus the consensus loss estimate of $0.32. However, revenue of $1.50 million fell short of the $2.28 million estimate.
• Shares declined 5.3% to $1.61 following the results. The company continues to post significant losses, including a negative net margin of 1,189.14%.
• Institutional investors own 77.51% of the stock, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $8.67, substantially above the current share price.

Caribou Biosciences (NASDAQ:CRBU - Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.08, FiscalAI reports. The firm 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%.

Caribou Biosciences Trading Down 5.3%

CRBU traded down $0.09 during trading on Thursday, hitting $1.61. 1,131,465 shares of the company's stock traded hands, compared to its average volume of 1,560,761. The company's 50 day simple moving average is $1.70 and its two-hundred day simple moving average is $1.84. Caribou Biosciences has a 12-month low of $1.38 and a 12-month high of $3.54. The stock has a market capitalization of $159.68 million, a price-to-earnings ratio of -1.13 and a beta of 2.38.

Hedge Funds Weigh In On Caribou Biosciences

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CRBU shares. HC Wainwright upped their price target on shares of Caribou Biosciences from $9.00 to $11.00 and gave the stock a "buy" rating in a research note on Monday, May 11th. Weiss Ratings restated a "sell (d-)" rating on shares of Caribou Biosciences in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $8.67.

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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