Caribou Biosciences’ (CRBU) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Caribou Biosciences (NASDAQ:CRBU) in a research report report published on Tuesday morning, Benzinga reports. They currently have a $9.00 price target on the stock.

A number of other research analysts have also recently issued reports on CRBU. Evercore ISI cut Caribou Biosciences from an outperform rating to an inline rating and decreased their target price for the company from $13.00 to $3.00 in a research note on Monday, June 3rd. Royal Bank of Canada restated an outperform rating and set a $14.00 target price on shares of Caribou Biosciences in a report on Wednesday, August 7th. Finally, Truist Financial reiterated a buy rating and issued a $19.00 price target on shares of Caribou Biosciences in a report on Thursday, May 16th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Caribou Biosciences currently has a consensus rating of Moderate Buy and an average price target of $11.25.

Caribou Biosciences Price Performance

Shares of NASDAQ:CRBU opened at $1.83 on Tuesday. The company has a market capitalization of $165.28 million, a price-to-earnings ratio of -1.26 and a beta of 2.30. The firm’s 50 day simple moving average is $2.06 and its 200 day simple moving average is $3.46. Caribou Biosciences has a fifty-two week low of $1.50 and a fifty-two week high of $8.33.

Caribou Biosciences (NASDAQ:CRBU) last posted its earnings results on Tuesday, August 6th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.04. Caribou Biosciences had a negative net margin of 372.78% and a negative return on equity of 34.76%. The company had revenue of $3.46 million for the quarter, compared to analyst estimates of $3.31 million. Equities research analysts expect that Caribou Biosciences will post -1.76 earnings per share for the current year.

Hedge Funds Weigh In On Caribou Biosciences

Large investors have recently bought and sold shares of the company. Renaissance Technologies LLC bought a new stake in shares of Caribou Biosciences in the second quarter worth $2,432,000. Dimensional Fund Advisors LP grew its holdings in shares of Caribou Biosciences by 25.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,623,283 shares of the company’s stock valued at $4,302,000 after acquiring an additional 536,162 shares in the last quarter. Avidity Partners Management LP raised its holdings in Caribou Biosciences by 5.1% during the fourth quarter. Avidity Partners Management LP now owns 6,360,212 shares of the company’s stock worth $36,444,000 after acquiring an additional 310,000 shares in the last quarter. XTX Topco Ltd bought a new stake in Caribou Biosciences during the second quarter worth about $341,000. Finally, Vanguard Group Inc. grew its stake in Caribou Biosciences by 3.8% in the first quarter. Vanguard Group Inc. now owns 4,110,795 shares of the company’s stock valued at $21,129,000 after purchasing an additional 148,751 shares in the last quarter. Institutional investors and hedge funds own 77.51% of the company’s stock.

Caribou Biosciences Company Profile

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.