Caribou Biosciences (NASDAQ:CRBU) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Caribou Biosciences (NASDAQ:CRBU) in a report released on Tuesday,Benzinga reports. The brokerage currently has a $9.00 price target on the stock.

Several other equities research analysts also recently issued reports on CRBU. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caribou Biosciences in a report on Wednesday, January 21st. Truist Financial raised Caribou Biosciences to a “strong-buy” rating in a report on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $8.00.

Caribou Biosciences Price Performance

Shares of Caribou Biosciences stock opened at $1.86 on Tuesday. The business has a fifty day simple moving average of $1.78 and a two-hundred day simple moving average of $1.91. Caribou Biosciences has a 1 year low of $0.71 and a 1 year high of $3.54. The company has a market capitalization of $179.75 million, a price-to-earnings ratio of -1.17 and a beta of 2.46.

Caribou Biosciences (NASDAQ:CRBU) last announced its quarterly earnings results on Thursday, March 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $3.94 million during the quarter, compared to the consensus estimate of $1.96 million. As a group, equities analysts anticipate that Caribou Biosciences will post -1.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CRBU. AQR Capital Management LLC increased its position in shares of Caribou Biosciences by 741.6% in the first quarter. AQR Capital Management LLC now owns 525,878 shares of the company’s stock worth $480,000 after purchasing an additional 463,391 shares during the period. Acadian Asset Management LLC bought a new position in shares of Caribou Biosciences in the first quarter worth $61,000. Creative Planning bought a new position in shares of Caribou Biosciences in the second quarter worth $25,000. XTX Topco Ltd bought a new position in Caribou Biosciences in the second quarter valued at about $133,000. Finally, RBF Capital LLC bought a new position in Caribou Biosciences in the second quarter valued at about $101,000. 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.