Zurcher Kantonalbank Zurich Cantonalbank Sells 2,987 Shares of Caribou Biosciences, Inc. (NASDAQ:CRBU)

Posted by Defense World Staff on May 13th, 2023

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in Caribou Biosciences, Inc. (NASDAQ:CRBU – Get Rating) by 28.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,498 shares of the company’s stock after selling 2,987 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Caribou Biosciences were worth $47,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. raised its position in shares of Caribou Biosciences by 10.6% in the 3rd quarter. BlackRock Inc. now owns 4,478,190 shares of the company’s stock worth $47,244,000 after acquiring an additional 428,404 shares in the last quarter. Pictet Asset Management SA grew its position in shares of Caribou Biosciences by 22.4% during the 3rd quarter. Pictet Asset Management SA now owns 3,290,898 shares of the company’s stock worth $34,719,000 after buying an additional 601,671 shares during the period. Vanguard Group Inc. grew its position in shares of Caribou Biosciences by 28.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,553,428 shares of the company’s stock worth $26,939,000 after buying an additional 561,065 shares during the period. State Street Corp grew its position in shares of Caribou Biosciences by 200.3% during the 3rd quarter. State Street Corp now owns 2,395,470 shares of the company’s stock worth $25,272,000 after buying an additional 1,597,870 shares during the period. Finally, Elmwood Wealth Management Inc. bought a new position in shares of Caribou Biosciences during the 3rd quarter worth about $24,943,000. 70.44% of the stock is owned by institutional investors.

Caribou Biosciences Stock Down 3.9 %

Shares of NASDAQ:CRBU opened at $4.21 on Friday. The stock has a market cap of $258.34 million, a price-to-earnings ratio of -2.37 and a beta of 1.79. Caribou Biosciences, Inc. has a 12-month low of $4.05 and a 12-month high of $13.19. The business’s 50 day moving average is $4.78 and its 200 day moving average is $6.69.

Caribou Biosciences (NASDAQ:CRBU – Get Rating) last released its quarterly earnings results on Thursday, March 9th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.03. Caribou Biosciences had a negative net margin of 717.79% and a negative return on equity of 30.41%. The company had revenue of $3.69 million for the quarter, compared to analyst estimates of $3.78 million. As a group, equities research analysts expect that Caribou Biosciences, Inc. will post -1.97 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. HC Wainwright cut their price objective on shares of Caribou Biosciences from $26.00 to $25.00 in a research report on Wednesday. Bank of America lowered their target price on Caribou Biosciences from $27.00 to $25.00 in a research report on Friday, March 17th. Oppenheimer lowered their target price on Caribou Biosciences from $36.00 to $32.00 and set an “outperform” rating on the stock in a research report on Friday, March 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $19.00 target price on shares of Caribou Biosciences in a research report on Friday, March 10th.

Caribou Biosciences Company Profile

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Caribou Biosciences, Inc, a clinical-stage biopharmaceutical company, engages in the development of genome-edited allogeneic cell therapies for the treatment of hematologic malignancies and solid tumors in the United States and internationally. Its lead product candidates are 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; and CB-011, an allogeneic anti-BCMA CAR-T cell therapy for the treatment of relapsed or refractory multiple myeloma.