Wall Street Zen lowered shares of Caribou Biosciences (NASDAQ:CRBU – Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.
A number of other research firms have also commented on CRBU. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caribou Biosciences in a report on Friday, July 17th. Bank of America cut their price target on Caribou Biosciences from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.75.
Get Our Latest Research Report on Caribou Biosciences
Caribou Biosciences Stock Down 0.8%
Caribou Biosciences (NASDAQ:CRBU – Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.08. Caribou Biosciences had a negative return on equity of 89.11% and a negative net margin of 1,030.42%.The firm had revenue of $1.50 million during the quarter, compared to analyst estimates of $2.28 million. Analysts anticipate that Caribou Biosciences will post -0.88 EPS for the current year.
Institutional Investors Weigh In On Caribou Biosciences
Several large investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of Caribou Biosciences during the 2nd quarter valued at about $13,756,000. Renaissance Technologies LLC raised its holdings in Caribou Biosciences by 58.0% during the 1st quarter. Renaissance Technologies LLC now owns 2,590,497 shares of the company’s stock worth $4,922,000 after buying an additional 950,640 shares during the period. GSA Capital Partners LLP acquired a new stake in Caribou Biosciences during the 2nd quarter worth approximately $816,000. Green Alpha Advisors LLC bought a new position in Caribou Biosciences in the second quarter valued at approximately $641,000. Finally, Next Capital Management LLC acquired a new position in shares of Caribou Biosciences in the second quarter valued at approximately $35,000. 77.51% of the stock is currently owned by institutional investors.
About Caribou Biosciences
Caribou Biosciences, Inc is a clinical-stage biotechnology company developing genome-edited cell therapies for the treatment of cancer. The company uses its CRISPR-based chRDNA™ technology platform to make targeted genetic modifications to immune cells, with the goal of creating more effective and scalable therapies.
Caribou’s pipeline has focused primarily on allogeneic, or “off-the-shelf,” CAR-T cell therapies. Its investigational programs have included CB-010, an anti-CD19 CAR-T therapy designed for certain blood cancers, as well as additional programs targeting diseases such as multiple myeloma and acute myeloid leukemia.
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