Caribou Biosciences (NASDAQ:CRBU) Trading Up 2.4% – Should You Buy?

Caribou Biosciences, Inc. (NASDAQ:CRBU)’s stock price shot up 2.4% on Monday . The stock traded as high as $1.7350 and last traded at $1.72. 676,734 shares were traded during trading, a decline of 28% from the average session volume of 943,611 shares. The stock had previously closed at $1.68.

Analysts Set New Price Targets

Several research firms have weighed in on CRBU. Truist Financial set a $7.00 price objective on Caribou Biosciences in a research report on Tuesday, November 4th. Citigroup upped their price target on shares of Caribou Biosciences from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Caribou Biosciences in a research note on Wednesday, October 8th. Finally, HC Wainwright boosted their price objective on shares of Caribou Biosciences from $3.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Caribou Biosciences currently has an average rating of “Moderate Buy” and an average price target of $8.75.

Caribou Biosciences Trading Up 2.4%

The firm’s 50-day moving average price is $2.09 and its 200 day moving average price is $1.91. The company has a market capitalization of $160.77 million, a price-to-earnings ratio of -1.01 and a beta of 2.60.

Caribou Biosciences (NASDAQ:CRBU) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.06. Caribou Biosciences had a negative net margin of 1,690.45% and a negative return on equity of 69.85%. The business had revenue of $2.20 million for the quarter, compared to analysts’ expectations of $1.94 million. As a group, equities research analysts anticipate that Caribou Biosciences, Inc. will post -1.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Caribou Biosciences

A number of institutional investors have recently modified their holdings of the business. Nuveen LLC bought a new stake in shares of Caribou Biosciences during the 1st quarter valued at approximately $302,000. Jacobs Levy Equity Management Inc. boosted its position in Caribou Biosciences by 19.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,442,121 shares of the company’s stock valued at $1,317,000 after buying an additional 234,052 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Caribou Biosciences by 626.8% during the second quarter. Envestnet Asset Management Inc. now owns 318,657 shares of the company’s stock worth $402,000 after buying an additional 274,812 shares during the last quarter. Aberdeen Group plc grew its stake in shares of Caribou Biosciences by 118.3% during the second quarter. Aberdeen Group plc now owns 897,579 shares of the company’s stock worth $1,131,000 after buying an additional 486,435 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Caribou Biosciences during the second quarter worth $173,000. Institutional investors and hedge funds own 77.51% of the company’s stock.

About Caribou Biosciences

Caribou Biosciences, Inc is a clinical-stage biopharmaceutical company that leverages its proprietary CRISPR-Cas gene-editing platform to develop transformative cell therapies and in vivo treatments for a range of cancers and genetic diseases. The company’s core technology enables precise modification of cellular genomes, allowing the design of engineered T-cell and NK-cell therapies aimed at improving safety, efficacy and persistence in patients with hematologic and solid tumor malignancies. Alongside its oncology portfolio, Caribou is advancing in vivo editing programs targeting monogenic disorders, with initiatives in areas such as Duchenne muscular dystrophy and familial amyloidosis.

Established in 2011 and headquartered in Berkeley, California, Caribou Biosciences was co-founded by Nobel laureate Jennifer Doudna, one of the pioneers of CRISPR gene-editing technology.