Caribou Biosciences (NASDAQ:CRBU) Price Target Raised to $8.00

Caribou Biosciences (NASDAQ:CRBU) had its price objective boosted by stock analysts at Citigroup from $5.00 to $8.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 176.34% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caribou Biosciences in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Caribou Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 24th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $7.33.

Caribou Biosciences Stock Performance

Shares of CRBU stock traded up $0.48 during trading on Monday, hitting $2.90. The company had a trading volume of 55,509,737 shares, compared to its average volume of 1,506,888. The stock’s 50-day moving average price is $2.18 and its 200 day moving average price is $1.66. The firm has a market capitalization of $269.58 million, a P/E ratio of -1.64 and a beta of 2.59. Caribou Biosciences has a one year low of $0.66 and a one year high of $3.54.

Caribou Biosciences (NASDAQ:CRBU) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. Caribou Biosciences had a negative return on equity of 62.35% and a negative net margin of 1,800.93%.The company had revenue of $2.67 million for the quarter, compared to analysts’ expectations of $1.64 million. On average, research analysts anticipate that Caribou Biosciences will post -1.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Caribou Biosciences

A number of institutional investors have recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new stake in Caribou Biosciences in the first quarter valued at approximately $302,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of Caribou Biosciences by 19.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,442,121 shares of the company’s stock valued at $1,317,000 after acquiring an additional 234,052 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Caribou Biosciences during the 1st quarter worth $559,000. Aberdeen Group plc increased its position in Caribou Biosciences by 118.3% in the 2nd quarter. Aberdeen Group plc now owns 897,579 shares of the company’s stock valued at $1,131,000 after acquiring an additional 486,435 shares during the period. Finally, Pale Fire Capital SE raised its stake in shares of Caribou Biosciences by 7.2% during the first quarter. Pale Fire Capital SE now owns 786,722 shares of the company’s stock valued at $718,000 after acquiring an additional 52,518 shares during the last quarter. 77.51% of the stock is currently owned by institutional investors and hedge funds.

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.