Caribou Biosciences, Inc. (NASDAQ:CRBU) Short Interest Down 13.7% in March

Caribou Biosciences, Inc. (NASDAQ:CRBU) saw a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 8,820,000 shares, a drop of 13.7% from the February 28th total of 10,220,000 shares. Approximately 10.9% of the company’s shares are short sold. Based on an average daily volume of 1,290,000 shares, the days-to-cover ratio is currently 6.8 days.

Caribou Biosciences Price Performance

Shares of NASDAQ CRBU traded down $0.07 during midday trading on Thursday, reaching $0.79. 208,542 shares of the stock were exchanged, compared to its average volume of 1,588,394. Caribou Biosciences has a 12 month low of $0.72 and a 12 month high of $4.92. The company has a market capitalization of $73.19 million, a price-to-earnings ratio of -0.48 and a beta of 2.34. The business has a 50-day simple moving average of $1.19 and a two-hundred day simple moving average of $1.68.

Caribou Biosciences (NASDAQ:CRBU) last posted its earnings results on Monday, March 10th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.01. Caribou Biosciences had a negative return on equity of 45.46% and a negative net margin of 1,290.81%. The firm had revenue of $2.08 million for the quarter, compared to analyst estimates of $2.11 million. Equities research analysts expect that Caribou Biosciences will post -1.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Caribou Biosciences

Several institutional investors and hedge funds have recently modified their holdings of CRBU. Intech Investment Management LLC bought a new position in Caribou Biosciences in the third quarter valued at approximately $43,000. Charles Schwab Investment Management Inc. boosted its stake in Caribou Biosciences by 19.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 739,530 shares of the company’s stock worth $1,449,000 after purchasing an additional 118,325 shares during the period. FMR LLC increased its holdings in Caribou Biosciences by 7.4% during the 3rd quarter. FMR LLC now owns 1,581,493 shares of the company’s stock worth $3,100,000 after purchasing an additional 109,606 shares in the last quarter. Walleye Capital LLC raised its stake in shares of Caribou Biosciences by 45.9% in the 3rd quarter. Walleye Capital LLC now owns 237,599 shares of the company’s stock valued at $466,000 after purchasing an additional 74,799 shares during the period. Finally, Erste Asset Management GmbH bought a new stake in shares of Caribou Biosciences in the third quarter valued at about $28,000. 77.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CRBU shares. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Caribou Biosciences in a report on Wednesday, March 19th. Bank of America cut their price target on Caribou Biosciences from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $10.33.

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.