Caribou Biosciences (NASDAQ:CRBU) Downgraded by Evercore ISI to Inline

Caribou Biosciences (NASDAQ:CRBUGet Free Report) was downgraded by equities researchers at Evercore ISI from an “outperform” rating to an “inline” rating in a report released on Monday, Briefing.com reports. They presently have a $3.00 price objective on the stock, down from their prior price objective of $13.00. Evercore ISI’s target price indicates a potential upside of 4.17% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $24.00 target price on shares of Caribou Biosciences in a research report on Monday, May 13th. Truist Financial reissued a “buy” rating and set a $19.00 price target on shares of Caribou Biosciences in a research note on Thursday, May 16th.

Read Our Latest Report on CRBU

Caribou Biosciences Stock Up 1.1 %

Shares of CRBU stock opened at $2.88 on Monday. The stock has a market capitalization of $260.12 million, a PE ratio of -1.99 and a beta of 2.43. Caribou Biosciences has a 52-week low of $2.78 and a 52-week high of $8.59. The stock’s 50-day moving average price is $3.89 and its 200 day moving average price is $5.31.

Caribou Biosciences (NASDAQ:CRBUGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.07). Caribou Biosciences had a negative net margin of 345.05% and a negative return on equity of 33.42%. The company had revenue of $2.43 million during the quarter, compared to analyst estimates of $3.00 million. Analysts expect that Caribou Biosciences will post -1.8 earnings per share for the current fiscal year.

Institutional Trading of Caribou Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in CRBU. Bank of New York Mellon Corp increased its holdings in shares of Caribou Biosciences by 29.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 264,243 shares of the company’s stock worth $1,263,000 after buying an additional 60,242 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Caribou Biosciences by 32.8% during the 3rd quarter. Principal Financial Group Inc. now owns 25,198 shares of the company’s stock worth $120,000 after buying an additional 6,227 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Caribou Biosciences during the 3rd quarter worth $441,000. Barclays PLC increased its holdings in shares of Caribou Biosciences by 1,296.0% during the 3rd quarter. Barclays PLC now owns 254,231 shares of the company’s stock worth $1,215,000 after buying an additional 236,020 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Caribou Biosciences by 32.0% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 21,320 shares of the company’s stock worth $102,000 after buying an additional 5,170 shares during the last quarter. 77.51% of the stock is currently owned by institutional investors and hedge funds.

About Caribou Biosciences

(Get Free Report)

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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