Caribou Biosciences (NASDAQ:CRBU) Rating Reiterated by Truist Financial

Truist Financial reissued their buy rating on shares of Caribou Biosciences (NASDAQ:CRBU - Free Report) in a research note published on Thursday, Benzinga reports. Truist Financial currently has a $19.00 target price on the stock.

Separately, HC Wainwright restated a buy rating and set a $24.00 target price on shares of Caribou Biosciences in a research report on Monday.

Caribou Biosciences Price Performance

Caribou Biosciences stock traded down $0.05 during mid-day trading on Thursday, reaching $3.59. 1,765,080 shares of the company traded hands, compared to its average volume of 1,639,709. The firm's fifty day moving average is $4.56 and its two-hundred day moving average is $5.39. The company has a market capitalization of $324.25 million, a price-to-earnings ratio of -2.49 and a beta of 2.56. Caribou Biosciences has a fifty-two week low of $3.44 and a fifty-two week high of $8.59.

Caribou Biosciences (NASDAQ:CRBU - Get Free Report) last released its earnings results on Monday, March 11th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.17). The firm had revenue of $3.56 million during the quarter, compared to analyst estimates of $5.17 million. Caribou Biosciences had a negative net margin of 345.05% and a negative return on equity of 33.42%. As a group, equities research analysts predict that Caribou Biosciences will post -1.76 earnings per share for the current year.

Institutional Investors Weigh In On Caribou Biosciences

A number of institutional investors have recently added to or reduced their stakes in the stock. Deerfield Management Company L.P. Series C acquired a new position in Caribou Biosciences in the 3rd quarter valued at $16,730,000. Avidity Partners Management LP raised its position in shares of Caribou Biosciences by 119.3% in the third quarter. Avidity Partners Management LP now owns 6,050,212 shares of the company's stock valued at $28,920,000 after buying an additional 3,291,612 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Caribou Biosciences by 247.5% in the third quarter. Assenagon Asset Management S.A. now owns 2,648,582 shares of the company's stock worth $12,660,000 after buying an additional 1,886,484 shares in the last quarter. Vanguard Group Inc. boosted its position in Caribou Biosciences by 49.3% during the third quarter. Vanguard Group Inc. now owns 3,822,151 shares of the company's stock worth $18,270,000 after acquiring an additional 1,261,920 shares during the last quarter. Finally, Kynam Capital Management LP purchased a new stake in shares of Caribou Biosciences in the third quarter valued at approximately $5,108,000. Institutional investors and hedge funds own 77.51% of the company's stock.

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.