Caribou Biosciences, Inc. (NASDAQ:CRBU) Forecasted to Post Q2 2024 Earnings of ($0.42) Per Share

Caribou Biosciences, Inc. (NASDAQ:CRBU - Free Report) - Equities research analysts at Brookline Capital Management reduced their Q2 2024 EPS estimates for shares of Caribou Biosciences in a research report issued on Tuesday, May 7th. Brookline Capital Management analyst L. Cann now anticipates that the company will post earnings of ($0.42) per share for the quarter, down from their prior estimate of ($0.40). The consensus estimate for Caribou Biosciences' current full-year earnings is ($1.76) per share. Brookline Capital Management also issued estimates for Caribou Biosciences' Q3 2024 earnings at ($0.45) EPS, Q4 2024 earnings at ($0.49) EPS, FY2024 earnings at ($1.82) EPS, FY2025 earnings at ($3.01) EPS, FY2026 earnings at ($2.80) EPS, FY2027 earnings at ($3.81) EPS and FY2028 earnings at ($0.73) EPS.

Caribou Biosciences (NASDAQ:CRBU - Get Free Report) last posted its earnings results on Monday, March 11th. The company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.17). The business had revenue of $3.56 million during the quarter, compared to analysts' expectations of $5.17 million. Caribou Biosciences had a negative net margin of 296.05% and a negative return on equity of 31.06%.

Separately, HC Wainwright lifted their price target on shares of Caribou Biosciences from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Tuesday, March 19th.

Caribou Biosciences Price Performance

Shares of NASDAQ:CRBU traded down $0.11 during trading on Friday, hitting $3.54. The company had a trading volume of 999,286 shares, compared to its average volume of 1,623,010. The stock has a market cap of $319.73 million, a price-to-earnings ratio of -2.52 and a beta of 2.56. The company has a fifty day simple moving average of $4.87 and a two-hundred day simple moving average of $5.38. Caribou Biosciences has a one year low of $3.44 and a one year high of $8.59.

Institutional Investors Weigh In On Caribou Biosciences

Several large investors have recently added to or reduced their stakes in CRBU. Bank of New York Mellon Corp increased its holdings in Caribou Biosciences by 29.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 264,243 shares of the company's stock worth $1,263,000 after purchasing an additional 60,242 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Caribou Biosciences by 16.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 291,891 shares of the company's stock valued at $1,395,000 after acquiring an additional 40,222 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Caribou Biosciences by 32.8% in the third quarter. Principal Financial Group Inc. now owns 25,198 shares of the company's stock worth $120,000 after acquiring an additional 6,227 shares during the period. Assenagon Asset Management S.A. grew its holdings in Caribou Biosciences by 247.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,648,582 shares of the company's stock worth $12,660,000 after acquiring an additional 1,886,484 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in Caribou Biosciences during the 3rd quarter valued at about $441,000. 77.51% of the stock is owned by hedge funds and other institutional investors.

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.