Caribou Biosciences (NASDAQ:CRBU) Stock Rating Upgraded by Wall Street Zen

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 investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Sunday.

Separately, HC Wainwright reaffirmed a "buy" rating and set a $3.00 target price (down previously from $9.00) on shares of Caribou Biosciences in a report on Monday, April 28th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $6.67.

Caribou Biosciences Stock Down 3.6%

CRBU traded down $0.07 during trading hours on Friday, hitting $1.87. The stock had a trading volume of 486,531 shares, compared to its average volume of 1,014,276. The company's fifty day simple moving average is $1.80 and its 200 day simple moving average is $1.28. Caribou Biosciences has a 1 year low of $0.66 and a 1 year high of $3.00. The stock has a market cap of $174.13 million, a PE ratio of -1.05 and a beta of 2.55.

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

Institutional Trading of Caribou Biosciences

A number of hedge funds have recently bought and sold shares of the company. Hudson Bay Capital Management LP bought a new stake in Caribou Biosciences in the 2nd quarter worth approximately $30,000. Tower Research Capital LLC TRC lifted its position in Caribou Biosciences by 577.9% in the second quarter. Tower Research Capital LLC TRC now owns 74,053 shares of the company's stock valued at $93,000 after purchasing an additional 63,129 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in Caribou Biosciences by 36.9% in the second quarter. Bridgeway Capital Management LLC now owns 148,500 shares of the company's stock valued at $187,000 after purchasing an additional 40,000 shares during the last quarter. Brevan Howard Capital Management LP bought a new stake in Caribou Biosciences in the second quarter valued at approximately $196,000. Finally, Jane Street Group LLC lifted its position in Caribou Biosciences by 64.7% in the second quarter. Jane Street Group LLC now owns 483,610 shares of the company's stock valued at $609,000 after purchasing an additional 189,923 shares during the last quarter. Institutional investors 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.