Cambridge Investment Research Advisors Inc. Makes New Investment in Caribou Biosciences, Inc. (NASDAQ:CRBU)

Cambridge Investment Research Advisors Inc. bought a new stake in shares of Caribou Biosciences, Inc. (NASDAQ:CRBU - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 612,412 shares of the company's stock, valued at approximately $559,000. Cambridge Investment Research Advisors Inc. owned approximately 0.66% of Caribou Biosciences as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Exchange Traded Concepts LLC lifted its position in Caribou Biosciences by 51.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 124,889 shares of the company's stock worth $114,000 after buying an additional 42,395 shares during the last quarter. Milestone Asset Management LLC lifted its position in Caribou Biosciences by 100.9% in the 1st quarter. Milestone Asset Management LLC now owns 329,090 shares of the company's stock worth $300,000 after buying an additional 165,301 shares during the last quarter. Green Alpha Advisors LLC lifted its position in Caribou Biosciences by 138.8% in the first quarter. Green Alpha Advisors LLC now owns 432,325 shares of the company's stock valued at $395,000 after purchasing an additional 251,271 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Caribou Biosciences in the fourth quarter valued at approximately $222,000. Finally, Two Sigma Investments LP lifted its position in Caribou Biosciences by 23.7% in the fourth quarter. Two Sigma Investments LP now owns 1,118,696 shares of the company's stock valued at $1,779,000 after purchasing an additional 214,239 shares during the last quarter. Hedge funds and other institutional investors own 77.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CRBU. Wall Street Zen upgraded Caribou Biosciences from a "sell" rating to a "hold" rating in a research report on Saturday. HC Wainwright reissued a "buy" rating and set a $3.00 target price (down from $9.00) on shares of Caribou Biosciences in a research note on Monday, April 28th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $8.50.

Caribou Biosciences Price Performance

CRBU stock traded up $0.15 during midday trading on Wednesday, hitting $1.75. The stock had a trading volume of 2,249,439 shares, compared to its average volume of 1,333,085. The firm has a market cap of $162.75 million, a price-to-earnings ratio of -1.08 and a beta of 2.48. The business has a 50-day moving average of $1.11 and a two-hundred day moving average of $1.18. Caribou Biosciences, Inc. has a 52-week low of $0.66 and a 52-week high of $3.00.

Caribou Biosciences (NASDAQ:CRBU - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.43) EPS for the quarter, hitting analysts' consensus estimates of ($0.43). Caribou Biosciences had a negative return on equity of 55.70% and a negative net margin of 1,490.84%. The firm had revenue of $2.35 million for the quarter, compared to analysts' expectations of $1.48 million. Research analysts predict that Caribou Biosciences, Inc. will post -1.64 earnings per share for the current year.

Caribou Biosciences Company Profile

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.