Wall Street Zen Upgrades Caribou Biosciences (NASDAQ:CRBU) to Hold

Key Points

• Wall Street Zen has upgraded Caribou Biosciences (NASDAQ:CRBU) from a "sell" rating to a "hold" rating.
• HC Wainwright reiterated a "buy" rating for CRBU with a revised price target of $3.00, down from $9.00.
• Caribou Biosciences reported a quarterly revenue of $2.67 million, exceeding expectations of $1.64 million.

Caribou Biosciences (NASDAQ:CRBU - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Sunday.

Separately, HC Wainwright reiterated a "buy" rating and set a $3.00 price target (down from $9.00) on shares of Caribou Biosciences in a report on Monday, April 28th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Caribou Biosciences presently has a consensus rating of "Buy" and a consensus price target of $6.67.

Caribou Biosciences Price Performance

Shares of NASDAQ CRBU opened at $1.85 on Friday. The company has a market cap of $172.27 million, a PE ratio of -1.04 and a beta of 2.55. Caribou Biosciences has a 12 month low of $0.66 and a 12 month high of $2.9995. The company has a 50-day simple moving average of $1.73 and a 200-day simple moving average of $1.26.

Caribou Biosciences (NASDAQ:CRBU - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.35) EPS for the quarter, topping analysts' consensus estimates of ($0.40) by $0.05. The business had revenue of $2.67 million during the quarter, compared to the consensus estimate of $1.64 million. Caribou Biosciences had a negative net margin of 1,800.93% and a negative return on equity of 62.35%. On average, analysts anticipate that Caribou Biosciences will post -1.64 EPS for the current year.

Institutional Investors Weigh In On Caribou Biosciences

A number of institutional investors have recently bought and sold shares of CRBU. Next Capital Management LLC purchased a new stake in Caribou Biosciences in the second quarter valued at approximately $25,000. Creative Planning acquired a new position in Caribou Biosciences during the second quarter valued at approximately $25,000. Hudson Bay Capital Management LP acquired a new position in Caribou Biosciences during the second quarter valued at approximately $30,000. Savant Capital LLC acquired a new position in Caribou Biosciences during the second quarter valued at approximately $36,000. Finally, Cerity Partners LLC lifted its position in Caribou Biosciences by 163.6% during the first quarter. Cerity Partners LLC now owns 40,722 shares of the company's stock valued at $37,000 after buying an additional 25,271 shares in the last quarter. 77.51% of the stock is currently owned by hedge funds and other institutional investors.

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.

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