Caribou Biosciences (NASDAQ:CRBU) Announces Earnings Results

Key Points

• Caribou Biosciences reported a quarterly earnings per share of ($0.35), exceeding analysts' expectations by $0.05.
• The company's stock rose to $1.79, with a market cap of approximately $166.47 million and a trading volume of 714,182 shares.
• Several institutional investors recently adjusted their positions, with AQR Capital Management LLC increasing its stake by 741.6% during the first quarter.

Caribou Biosciences (NASDAQ:CRBU - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.05, Zacks reports. Caribou Biosciences had a negative return on equity of 62.35% and a negative net margin of 1,800.93%. The company had revenue of $2.67 million for the quarter, compared to analysts' expectations of $1.64 million.

Caribou Biosciences Price Performance

NASDAQ:CRBU traded down $0.02 during mid-day trading on Friday, reaching $1.98. The stock had a trading volume of 1,109,038 shares, compared to its average volume of 1,613,636. The stock has a 50-day simple moving average of $1.67 and a two-hundred day simple moving average of $1.25. Caribou Biosciences has a 12 month low of $0.66 and a 12 month high of $3.00. The stock has a market capitalization of $184.38 million, a PE ratio of -1.11 and a beta of 2.55.

Hedge Funds Weigh In On Caribou Biosciences

A number of large investors have recently added to or reduced their stakes in CRBU. Creative Planning purchased a new position in shares of Caribou Biosciences during the second quarter worth approximately $25,000. Hudson Bay Capital Management LP acquired a new position in shares of Caribou Biosciences during the second quarter worth about $30,000. Acadian Asset Management LLC acquired a new stake in Caribou Biosciences during the first quarter worth approximately $61,000. Tower Research Capital LLC TRC raised its position in shares of Caribou Biosciences by 577.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 74,053 shares of the company's stock worth $93,000 after acquiring an additional 63,129 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Caribou Biosciences in the 2nd quarter worth approximately $133,000. Hedge funds and other institutional investors own 77.51% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CRBU. HC Wainwright reiterated a "buy" rating and issued a $3.00 target price (down from $9.00) on shares of Caribou Biosciences in a report on Monday, April 28th. Wall Street Zen cut shares of Caribou Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday.

About Caribou Biosciences

Caribou Biosciences, Inc, a clinical-stage biopharmaceutical company, engages in the development of genome-edited allogeneic cell therapies for the treatment of hematologic malignancies in the United States and internationally. Its lead product candidate is CB-010, an allogeneic anti-CD19 CAR-T cell therapy that is in phase 1 clinical trial to treat relapsed or refractory B cell non-Hodgkin lymphoma.