Caribou Biosciences (NASDAQ:CRBU) Coverage Initiated at Cantor Fitzgerald

Analysts at Cantor Fitzgerald initiated coverage on shares of Caribou Biosciences (NASDAQ:CRBU) in a research report issued on Wednesday, Marketbeat Ratings reports. The firm set a “neutral” rating on the stock.

A number of other research analysts have also weighed in on CRBU. Evercore ISI initiated coverage on Caribou Biosciences in a report on Tuesday, October 31st. They issued an “outperform” rating and a $13.00 price objective on the stock. HC Wainwright cut their price target on shares of Caribou Biosciences from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, July 26th. Citigroup cut their price target on shares of Caribou Biosciences from $37.00 to $30.00 in a research note on Tuesday, September 5th. Finally, Truist Financial started coverage on shares of Caribou Biosciences in a research note on Tuesday, July 11th. They set a “buy” rating and a $23.00 price target on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $23.57.

Caribou Biosciences Trading Down 12.9 %

Shares of NASDAQ:CRBU opened at $3.95 on Wednesday. Caribou Biosciences has a twelve month low of $3.44 and a twelve month high of $10.67. The company’s 50 day moving average is $4.73 and its 200 day moving average is $5.15. The company has a market cap of $348.30 million, a PE ratio of -2.63 and a beta of 2.08.

Caribou Biosciences (NASDAQ:CRBU) last issued its quarterly earnings results on Tuesday, August 8th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.01. The company had revenue of $3.76 million for the quarter, compared to the consensus estimate of $3.45 million. Caribou Biosciences had a negative net margin of 273.19% and a negative return on equity of 33.43%. Equities research analysts predict that Caribou Biosciences will post -1.61 earnings per share for the current fiscal year.

Institutional Trading of Caribou Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in CRBU. NewEdge Advisors LLC increased its position in Caribou Biosciences by 187.3% during the first quarter. NewEdge Advisors LLC now owns 5,100 shares of the company’s stock worth $27,000 after buying an additional 3,325 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Caribou Biosciences by 88.1% during the second quarter. Tower Research Capital LLC TRC now owns 6,871 shares of the company’s stock worth $29,000 after purchasing an additional 3,218 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Caribou Biosciences by 52.3% during the second quarter. Royal Bank of Canada now owns 8,106 shares of the company’s stock worth $34,000 after purchasing an additional 2,785 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Caribou Biosciences by 168.4% during the first quarter. Ameritas Investment Partners Inc. now owns 3,945 shares of the company’s stock worth $36,000 after purchasing an additional 2,475 shares in the last quarter. Finally, Ergoteles LLC acquired a new position in shares of Caribou Biosciences during the second quarter worth about $53,000. Hedge funds and other institutional investors own 59.16% 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 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.