Caribou Biosciences, Inc. (NASDAQ:CRBU) Short Interest Update

Caribou Biosciences, Inc. (NASDAQ:CRBU – Get Rating) was the recipient of a large decrease in short interest in February. As of February 28th, there was short interest totalling 4,280,000 shares, a decrease of 5.5% from the February 13th total of 4,530,000 shares. Approximately 8.0% of the shares of the company are sold short. Based on an average daily trading volume, of 522,500 shares, the days-to-cover ratio is currently 8.2 days.

Caribou Biosciences Stock Down 2.3 %

Caribou Biosciences stock opened at $5.04 on Friday. The company has a market capitalization of $308.95 million, a P/E ratio of -3.07 and a beta of 1.93. The stock’s 50 day moving average is $6.53 and its 200 day moving average is $8.34. Caribou Biosciences has a twelve month low of $4.89 and a twelve month high of $13.19.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CRBU shares. HC Wainwright decreased their target price on Caribou Biosciences from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday. Citigroup dropped their price target on Caribou Biosciences from $38.00 to $37.00 in a report on Wednesday, November 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $19.00 price target on shares of Caribou Biosciences in a report on Friday, March 10th. Finally, Oppenheimer decreased their target price on Caribou Biosciences from $36.00 to $32.00 and set an “outperform” rating for the company in a research report on Friday, March 10th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $29.60.

Insider Buying and Selling at Caribou Biosciences

In other news, insider Syed Ali-Aamir Rizvi sold 5,627 shares of the company’s stock in a transaction on Thursday, January 19th. The stock was sold at an average price of $6.31, for a total transaction of $35,506.37. Following the completion of the sale, the insider now directly owns 59,373 shares in the company, valued at approximately $374,643.63. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Caribou Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of CRBU. Elmwood Wealth Management Inc. purchased a new stake in Caribou Biosciences in the 3rd quarter worth $24,943,000. Bank of America Corp DE raised its stake in shares of Caribou Biosciences by 950.6% during the fourth quarter. Bank of America Corp DE now owns 1,843,902 shares of the company’s stock valued at $11,580,000 after acquiring an additional 1,668,395 shares in the last quarter. State Street Corp raised its stake in shares of Caribou Biosciences by 200.3% during the third quarter. State Street Corp now owns 2,395,470 shares of the company’s stock valued at $25,272,000 after acquiring an additional 1,597,870 shares in the last quarter. BlackRock Inc. increased its holdings in Caribou Biosciences by 88.3% during the first quarter. BlackRock Inc. now owns 3,319,182 shares of the company’s stock valued at $30,470,000 after buying an additional 1,556,153 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Caribou Biosciences by 118.9% during the first quarter. Vanguard Group Inc. now owns 2,001,554 shares of the company’s stock valued at $18,375,000 after buying an additional 1,087,038 shares during the period. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

About Caribou Biosciences

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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.