Caribou Biosciences (NASDAQ:CRBU) Price Target Lowered to $37.00 at Citigroup

Caribou Biosciences (NASDAQ:CRBUGet Rating) had its price objective dropped by research analysts at Citigroup from $38.00 to $37.00 in a note issued to investors on Wednesday, The Fly reports. Citigroup’s price target indicates a potential upside of 320.93% from the company’s previous close.

Separately, HC Wainwright reduced their price objective on shares of Caribou Biosciences from $28.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday, August 18th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Caribou Biosciences has an average rating of “Buy” and an average price target of $29.17.

Caribou Biosciences Stock Up 0.3 %

NASDAQ CRBU opened at $8.79 on Wednesday. The company has a 50 day moving average price of $9.82 and a two-hundred day moving average price of $8.83. Caribou Biosciences has a 12-month low of $4.89 and a 12-month high of $19.61. The stock has a market capitalization of $536.19 million, a PE ratio of -5.82 and a beta of 1.81.

Insider Buying and Selling

In related news, VP Ryan Fischesser sold 10,000 shares of the business’s stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $10.80, for a total transaction of $108,000.00. Following the transaction, the vice president now owns 110,366 shares of the company’s stock, valued at $1,191,952.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Caribou Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of CRBU. Elmwood Wealth Management Inc. bought a new stake in Caribou Biosciences in the 3rd quarter valued at $24,943,000. State Street Corp grew its holdings in shares of Caribou Biosciences by 200.3% in the 3rd quarter. State Street Corp now owns 2,395,470 shares of the company’s stock worth $25,272,000 after purchasing an additional 1,597,870 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Caribou Biosciences by 88.3% in the 1st quarter. BlackRock Inc. now owns 3,319,182 shares of the company’s stock worth $30,470,000 after purchasing an additional 1,556,153 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Caribou Biosciences in the 2nd quarter worth about $6,027,000. Finally, Vanguard Group Inc. grew its holdings in shares of Caribou Biosciences by 118.9% in the 1st quarter. Vanguard Group Inc. now owns 2,001,554 shares of the company’s stock worth $18,375,000 after purchasing an additional 1,087,038 shares during the last quarter. Institutional investors own 64.73% of the company’s stock.

Caribou Biosciences Company Profile

(Get Rating)

Caribou Biosciences, Inc, a clinical-stage biopharmaceutical company, engages in the development of genome-edited allogeneic cell therapies for the treatment of hematologic malignancies and solid tumors in the United States and internationally. Its lead product candidates are 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; and CB-011, an allogeneic anti-BCMA CAR-T cell therapy for the treatment of relapsed or refractory multiple myeloma.

Further Reading

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