Caribou Biosciences, Inc. (NASDAQ:CRBU) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Caribou Biosciences has a consensus “Moderate Buy” rating from five analysts, with three buys, one strong buy, and one sell. The average 12-month price target is $7.75, although some analysts recently lowered their ratings or price targets.
• Institutional investors own 77.51% of the company, with several firms establishing new positions during the first and second quarters.
• CRBU shares opened at $1.30, near their 52-week low of $1.25. The company reported a quarterly loss of $0.24 per share—better than estimates—but revenue of $1.5 million fell short of expectations.

Shares of Caribou Biosciences, Inc. (NASDAQ:CRBU - Get Free Report) have received a consensus rating of "Moderate Buy" from the five analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $7.75.

A number of research analysts have weighed in on CRBU shares. Bank of America cut their price objective on shares of Caribou Biosciences from $6.00 to $5.00 and set a "buy" rating on the stock in a research report on Friday, August 14th. Weiss Ratings restated a "sell (d-)" rating on shares of Caribou Biosciences in a report on Friday, July 17th. Finally, Wall Street Zen cut shares of Caribou Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday.

Institutional Trading of Caribou Biosciences

Several institutional investors have recently added to or reduced their stakes in the company. CTC Alternative Strategies Ltd. bought a new position in shares of Caribou Biosciences during the first quarter valued at approximately $29,000. Westmount Partners LLC purchased a new stake in shares of Caribou Biosciences in the first quarter worth approximately $37,000. Next Capital Management LLC bought a new stake in shares of Caribou Biosciences during the 2nd quarter worth approximately $35,000. The Manufacturers Life Insurance Company purchased a new position in Caribou Biosciences during the 2nd quarter valued at $41,000. Finally, Spark Investment Management LLC purchased a new position in Caribou Biosciences during the 2nd quarter valued at $42,000. Institutional investors own 77.51% of the company's stock.

Caribou Biosciences Price Performance

Shares of CRBU stock opened at $1.30 on Friday. The company has a market cap of $139.37 million, a PE ratio of -1.20 and a beta of 2.28. Caribou Biosciences has a 1 year low of $1.25 and a 1 year high of $3.54. The stock's 50 day simple moving average is $1.57 and its two-hundred day simple moving average is $1.81.

Caribou Biosciences (NASDAQ:CRBU - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.32) by $0.08. Caribou Biosciences had a negative return on equity of 89.11% and a negative net margin of 1,030.42%.The firm had revenue of $1.50 million during the quarter, compared to analysts' expectations of $2.28 million. Equities research analysts expect that Caribou Biosciences will post -0.88 EPS for the current year.

Caribou Biosciences Company Profile

Caribou Biosciences, Inc is a clinical-stage biotechnology company developing genome-edited cell therapies for the treatment of cancer. The company uses its CRISPR-based chRDNA™ technology platform to make targeted genetic modifications to immune cells, with the goal of creating more effective and scalable therapies.

Caribou's pipeline has focused primarily on allogeneic, or “off-the-shelf,” CAR-T cell therapies. Its investigational programs have included CB-010, an anti-CD19 CAR-T therapy designed for certain blood cancers, as well as additional programs targeting diseases such as multiple myeloma and acute myeloid leukemia.

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