Caribou Biosciences (NASDAQ:CRBU) Price Target Lowered to $30.00 at Citigroup

Caribou Biosciences (NASDAQ:CRBU) had its price objective cut by Citigroup from $37.00 to $30.00 in a research note published on Tuesday morning, FlyOnTheWall reports.

CRBU has been the subject of several other reports. HC Wainwright decreased their price objective on shares of Caribou Biosciences from $25.00 to $23.00 and set a buy rating for the company in a research note on Wednesday, July 26th. Truist Financial assumed coverage on shares of Caribou Biosciences in a research note on Tuesday, July 11th. They set a buy rating and a $23.00 price objective for the company.

Caribou Biosciences Stock Performance

Shares of CRBU stock opened at $6.22 on Tuesday. Caribou Biosciences has a one year low of $3.96 and a one year high of $13.19. The company has a 50 day moving average price of $6.31 and a 200 day moving average price of $5.34. The firm has a market capitalization of $549.13 million, a price-to-earnings ratio of -3.42 and a beta of 1.98.

Caribou Biosciences (NASDAQ:CRBU) last issued its quarterly earnings results on Tuesday, August 8th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.01. Caribou Biosciences had a negative net margin of 780.23% and a negative return on equity of 37.93%. The firm had revenue of $3.76 million during the quarter, compared to analyst estimates of $3.45 million. As a group, equities analysts forecast that Caribou Biosciences will post -1.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CRBU. NewEdge Advisors LLC boosted its stake in shares of Caribou Biosciences by 187.3% in the first quarter. NewEdge Advisors LLC now owns 5,100 shares of the company’s stock valued at $27,000 after purchasing an additional 3,325 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Caribou Biosciences by 88.1% in the second quarter. Tower Research Capital LLC TRC now owns 6,871 shares of the company’s stock valued at $29,000 after purchasing an additional 3,218 shares during the period. Royal Bank of Canada boosted its stake in shares of Caribou Biosciences by 52.3% in the second quarter. Royal Bank of Canada now owns 8,106 shares of the company’s stock valued at $34,000 after purchasing an additional 2,785 shares during the period. Ameritas Investment Partners Inc. raised its holdings in Caribou Biosciences by 168.4% in the first quarter. Ameritas Investment Partners Inc. now owns 3,945 shares of the company’s stock valued at $36,000 after acquiring an additional 2,475 shares in the last quarter. Finally, Ergoteles LLC acquired a new stake in Caribou Biosciences in the second quarter valued at $53,000. 59.16% 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 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 that is in phase 1 clinical trial for the treatment of relapsed or refractory multiple myeloma.