Elmwood Wealth Management Inc. Lowers Stock Holdings in Caribou Biosciences, Inc. (NASDAQ:CRBU)

Elmwood Wealth Management Inc. lessened its stake in Caribou Biosciences, Inc. (NASDAQ:CRBU - Free Report) by 76.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 468,240 shares of the company's stock after selling 1,557,500 shares during the quarter. Elmwood Wealth Management Inc. owned about 0.50% of Caribou Biosciences worth $428,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Centric Wealth Management purchased a new position in Caribou Biosciences during the fourth quarter worth about $27,000. Russell Investments Group Ltd. raised 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 in the last quarter. MetLife Investment Management LLC lifted its position in shares of Caribou Biosciences by 60.0% during the 4th quarter. MetLife Investment Management LLC now owns 24,404 shares of the company's stock worth $39,000 after purchasing an additional 9,148 shares during the last quarter. Diametric Capital LP purchased a new stake in Caribou Biosciences during the 4th quarter worth about $42,000. Finally, US Bancorp DE boosted 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 purchasing an additional 26,467 shares in the last quarter. Hedge funds and other institutional investors own 77.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. HC Wainwright reissued a "buy" rating and issued a $3.00 price target (down from $9.00) on shares of Caribou Biosciences in a research report on Monday, April 28th. Wall Street Zen downgraded shares of Caribou Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $8.50.

Caribou Biosciences Stock Performance

NASDAQ CRBU traded down $0.01 during trading hours on Thursday, reaching $1.36. The company's stock had a trading volume of 746,493 shares, compared to its average volume of 1,326,503. The stock has a market cap of $126.48 million, a PE ratio of -0.84 and a beta of 2.48. The company's 50-day moving average is $1.06 and its two-hundred day moving average is $1.20. Caribou Biosciences, Inc. has a fifty-two week low of $0.66 and a fifty-two week high of $3.00.

Caribou Biosciences (NASDAQ:CRBU - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.43) EPS for the quarter, meeting analysts' consensus estimates of ($0.43). The firm 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 55.70% and a negative net margin of 1,490.84%. Equities analysts expect that Caribou Biosciences, Inc. will post -1.64 earnings per share 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.