BlackRock Inc. purchased a new stake in shares of Caribou Biosciences, Inc. (NASDAQ:CRBU - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,815,843 shares of the company's stock, valued at approximately $13,756,000. BlackRock Inc. owned about 7.88% of Caribou Biosciences at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. CTC Alternative Strategies Ltd. acquired a new position in Caribou Biosciences in the 1st quarter valued at about $29,000. Westmount Partners LLC acquired a new position in Caribou Biosciences in the first quarter valued at approximately $37,000. Next Capital Management LLC purchased a new position in Caribou Biosciences in the second quarter worth approximately $35,000. Creative Planning purchased a new position in Caribou Biosciences in the second quarter worth approximately $25,000. Finally, Hudson Bay Capital Management LP acquired a new stake in Caribou Biosciences during the second quarter worth $30,000. Hedge funds and other institutional investors own 77.51% of the company's stock.
Wall Street Analyst Weigh In
CRBU has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Caribou Biosciences in a research note on Friday, July 17th. HC Wainwright raised their price objective on Caribou Biosciences from $9.00 to $11.00 and gave the stock a "buy" rating in a research report on Monday, May 11th. Finally, Bank of America reduced their price objective on shares of Caribou Biosciences from $6.00 to $5.00 and set a "buy" rating on the stock in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $7.75.
Get Our Latest Research Report on CRBU
Caribou Biosciences Stock Down 1.9%
CRBU opened at $1.57 on Friday. The firm has a market cap of $168.32 million, a P/E ratio of -1.45 and a beta of 2.28. Caribou Biosciences, Inc. has a 52 week low of $1.38 and a 52 week high of $3.54. The business has a fifty day simple moving average of $1.66 and a 200-day simple moving average of $1.84.
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, beating analysts' consensus estimates of ($0.32) by $0.08. The company had revenue of $1.50 million during the quarter, compared to analysts' expectations of $2.28 million. Caribou Biosciences had a negative return on equity of 89.11% and a negative net margin of 1,030.42%. Sell-side analysts expect that Caribou Biosciences, Inc. will post -0.88 earnings per share for the current year.
Caribou Biosciences Company Profile
(
Free Report)
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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