Caribou Biosciences (NASDAQ:CRBU) Shares Up 0.6% – Should You Buy?

Caribou Biosciences, Inc. (NASDAQ:CRBU)’s stock price was up 0.6% during trading on Tuesday . The company traded as high as $1.64 and last traded at $1.59. Approximately 1,035,077 shares were traded during trading, an increase of 13% from the average daily volume of 918,003 shares. The stock had previously closed at $1.58.

Analyst Ratings Changes

CRBU has been the topic of a number of recent analyst reports. Citigroup raised their price target on shares of Caribou Biosciences from $5.00 to $8.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Truist Financial set a $7.00 target price on shares of Caribou Biosciences in a report on Tuesday, November 4th. HC Wainwright raised their target price on Caribou Biosciences from $3.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Caribou Biosciences in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.00.

Caribou Biosciences Trading Up 0.6%

The business’s 50 day moving average price is $1.81 and its two-hundred day moving average price is $1.96. The stock has a market cap of $148.62 million, a P/E ratio of -0.94 and a beta of 2.61.

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

Institutional Investors Weigh In On Caribou Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRBU. Vanguard Group Inc. boosted its holdings in shares of Caribou Biosciences by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,226,926 shares of the company’s stock valued at $9,849,000 after buying an additional 137,060 shares in the last quarter. Millennium Management LLC boosted its stake in Caribou Biosciences by 107.4% during the third quarter. Millennium Management LLC now owns 3,216,535 shares of the company’s stock worth $7,495,000 after acquiring an additional 1,665,946 shares in the last quarter. Aberdeen Group plc boosted its stake in Caribou Biosciences by 54.7% during the third quarter. Aberdeen Group plc now owns 1,388,905 shares of the company’s stock worth $3,236,000 after acquiring an additional 491,326 shares in the last quarter. Bank of America Corp DE grew its holdings in Caribou Biosciences by 32.8% in the third quarter. Bank of America Corp DE now owns 1,074,442 shares of the company’s stock worth $2,503,000 after purchasing an additional 265,542 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Caribou Biosciences by 741.6% during the first quarter. AQR Capital Management LLC now owns 525,878 shares of the company’s stock valued at $480,000 after purchasing an additional 463,391 shares in the last quarter. 77.51% of the stock is owned by hedge funds and other institutional investors.

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.