Caribou Biosciences (NASDAQ:CRBU) Raised to “Strong-Buy” at Truist Financial

Caribou Biosciences (NASDAQ:CRBU) was upgraded by equities researchers at Truist Financial to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Caribou Biosciences in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $8.00.

Caribou Biosciences Stock Up 1.6%

Shares of NASDAQ CRBU opened at $1.91 on Wednesday. The stock’s 50-day simple moving average is $1.72 and its two-hundred day simple moving average is $1.91. Caribou Biosciences has a twelve month low of $0.66 and a twelve month high of $3.54. The firm has a market capitalization of $184.58 million, a P/E ratio of -1.20 and a beta of 2.54.

Caribou Biosciences (NASDAQ:CRBU) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.05. Caribou Biosciences had a negative return on equity of 78.40% and a negative net margin of 1,327.40%.The firm had revenue of $3.94 million during the quarter, compared to the consensus estimate of $1.96 million. As a group, research analysts anticipate that Caribou Biosciences will post -1.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Caribou Biosciences

A number of institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. raised its position in Caribou Biosciences by 626.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 318,657 shares of the company’s stock worth $402,000 after purchasing an additional 274,812 shares during the period. Aberdeen Group plc boosted its position in Caribou Biosciences by 54.7% during the third quarter. Aberdeen Group plc now owns 1,388,905 shares of the company’s stock valued at $3,236,000 after buying an additional 491,326 shares during the period. Quadrature Capital Ltd purchased a new stake in Caribou Biosciences during the second quarter valued at about $114,000. US Bancorp DE grew its stake in shares of Caribou Biosciences by 18,624.0% during the third quarter. US Bancorp DE now owns 34,265 shares of the company’s stock valued at $80,000 after buying an additional 34,082 shares during the last quarter. Finally, Credit Agricole S A bought a new position in shares of Caribou Biosciences during the third quarter valued at about $68,000. Hedge funds and other institutional investors 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.