Caribou Biosciences, Inc. (NASDAQ:CRBU) Receives Consensus Recommendation of “Buy” from Analysts

Caribou Biosciences, Inc. (NASDAQ:CRBU) has received an average recommendation of “Buy” from the five research firms that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have covered the stock in the last year is $10.33.

Several equities research analysts recently weighed in on CRBU shares. Bank of America decreased their price target on Caribou Biosciences from $13.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Citigroup reduced their target price on Caribou Biosciences from $30.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Finally, HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of Caribou Biosciences in a report on Friday, November 15th.

Caribou Biosciences Price Performance

Shares of NASDAQ CRBU opened at $1.25 on Wednesday. The stock has a fifty day moving average price of $1.52 and a 200 day moving average price of $1.86. Caribou Biosciences has a 1-year low of $1.20 and a 1-year high of $8.33. The company has a market cap of $112.74 million, a PE ratio of -0.75 and a beta of 2.31.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Centric Wealth Management purchased a new position in shares of Caribou Biosciences in the fourth quarter valued at $27,000. Erste Asset Management GmbH purchased a new position in shares of Caribou Biosciences in the third quarter valued at $28,000. China Universal Asset Management Co. Ltd. increased its position in shares of Caribou Biosciences by 63.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 17,380 shares of the company’s stock valued at $34,000 after buying an additional 6,768 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Caribou Biosciences by 859.0% in the fourth quarter. Russell Investments Group Ltd. now owns 23,909 shares of the company’s stock valued at $38,000 after buying an additional 21,416 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in Caribou Biosciences by 60.0% during the 4th quarter. MetLife Investment Management LLC now owns 24,404 shares of the company’s stock worth $39,000 after purchasing an additional 9,148 shares in the last quarter. Hedge funds and other institutional investors own 77.51% of the company’s stock.

About Caribou Biosciences

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.