Caribou Biosciences (NASDAQ:CRBU) Releases Earnings Results, Beats Expectations By $0.06 EPS

Caribou Biosciences (NASDAQ:CRBU) released its quarterly earnings results on Wednesday. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.06, FiscalAI reports. Caribou Biosciences had a negative net margin of 1,690.45% and a negative return on equity of 64.07%. The firm had revenue of $2.20 million during the quarter, compared to the consensus estimate of $1.94 million.

Caribou Biosciences Stock Performance

Caribou Biosciences stock opened at $1.99 on Friday. The firm has a 50 day moving average price of $2.23 and a 200 day moving average price of $1.74. Caribou Biosciences has a fifty-two week low of $0.66 and a fifty-two week high of $3.54. The company has a market capitalization of $185.31 million, a PE ratio of -1.17 and a beta of 2.59.

Institutional Investors Weigh In On Caribou Biosciences

Several institutional investors and hedge funds have recently modified their holdings of the company. Creative Planning acquired a new position in Caribou Biosciences during the 2nd quarter worth about $25,000. Hudson Bay Capital Management LP purchased a new stake in Caribou Biosciences during the second quarter worth about $30,000. Acadian Asset Management LLC acquired a new stake in shares of Caribou Biosciences during the first quarter worth about $61,000. US Bancorp DE boosted its stake in shares of Caribou Biosciences by 18,624.0% in the third quarter. US Bancorp DE now owns 34,265 shares of the company’s stock valued at $80,000 after purchasing an additional 34,082 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Caribou Biosciences by 577.9% in the second quarter. Tower Research Capital LLC TRC now owns 74,053 shares of the company’s stock valued at $93,000 after purchasing an additional 63,129 shares during the period. Hedge funds and other institutional investors own 77.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CRBU. Weiss Ratings reissued a “sell (d-)” rating on shares of Caribou Biosciences in a research note on Wednesday, October 8th. Citigroup upped their price target on Caribou Biosciences from $5.00 to $8.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Wall Street Zen upgraded Caribou Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 24th. Truist Financial set a $7.00 target price on Caribou Biosciences in a research note on Tuesday, November 4th. Finally, HC Wainwright upped their price objective on shares of Caribou Biosciences from $3.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Caribou Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.75.

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.