Caribou Biosciences, Inc. (NASDAQ:CRBU) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its stake in Caribou Biosciences, Inc. (NASDAQ:CRBU - Free Report) by 61.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,769,293 shares of the company's stock after selling 2,800,953 shares during the period. Bank of America Corp DE owned approximately 1.95% of Caribou Biosciences worth $2,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Centric Wealth Management acquired a new position in Caribou Biosciences in the fourth quarter valued at approximately $27,000. Russell Investments Group Ltd. lifted its holdings in Caribou Biosciences by 859.0% in the fourth quarter. Russell Investments Group Ltd. now owns 23,909 shares of the company's stock valued at $38,000 after acquiring an additional 21,416 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in Caribou Biosciences by 60.0% in the fourth quarter. MetLife Investment Management LLC now owns 24,404 shares of the company's stock valued at $39,000 after acquiring an additional 9,148 shares during the last quarter. Diametric Capital LP acquired a new position in Caribou Biosciences in the fourth quarter valued at approximately $42,000. Finally, US Bancorp DE lifted its holdings in Caribou Biosciences by 3,524.2% in the fourth quarter. US Bancorp DE now owns 27,218 shares of the company's stock valued at $43,000 after acquiring an additional 26,467 shares during the last quarter. 77.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, HC Wainwright restated a "buy" rating and set a $3.00 price target (down from $9.00) on shares of Caribou Biosciences in a research note on Monday, April 28th.

Caribou Biosciences Stock Down 3.5%

NASDAQ:CRBU traded down $0.04 during trading hours on Thursday, reaching $1.09. 446,435 shares of the stock were exchanged, compared to its average volume of 1,401,678. The business has a 50-day moving average of $0.89 and a two-hundred day moving average of $1.30. Caribou Biosciences, Inc. has a twelve month low of $0.66 and a twelve month high of $3.00. The company has a market capitalization of $101.38 million, a price-to-earnings ratio of -0.66 and a beta of 2.44.

Caribou Biosciences (NASDAQ:CRBU - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.43) EPS for the quarter, hitting analysts' consensus estimates of ($0.43). The company had revenue of $2.35 million for the quarter, compared to analysts' expectations of $1.48 million. Caribou Biosciences had a negative return on equity of 45.46% and a negative net margin of 1,290.81%. On average, research analysts forecast that Caribou Biosciences, Inc. will post -1.64 EPS for the current fiscal year.

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.