Caribou Biosciences, Inc. (NASDAQ:CRBU) Given Consensus Recommendation of “Buy” by Brokerages

Caribou Biosciences, Inc. (NASDAQ:CRBU) has been assigned a consensus recommendation of “Buy” from the five analysts that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $10.33.

Several research firms recently weighed in on CRBU. Bank of America reduced their target price on Caribou Biosciences from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of Caribou Biosciences in a research report on Wednesday, March 19th.

Hedge Funds Weigh In On Caribou Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in Caribou Biosciences by 475.9% in the fourth quarter. JPMorgan Chase & Co. now owns 2,495,922 shares of the company’s stock valued at $3,969,000 after buying an additional 2,062,563 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Caribou Biosciences in the 4th quarter valued at $1,921,000. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Caribou Biosciences by 28.4% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 2,113,272 shares of the company’s stock valued at $3,360,000 after acquiring an additional 467,738 shares in the last quarter. Two Sigma Advisers LP boosted its position in Caribou Biosciences by 39.5% during the 4th quarter. Two Sigma Advisers LP now owns 1,470,700 shares of the company’s stock worth $2,338,000 after purchasing an additional 416,600 shares during the period. Finally, Ameriprise Financial Inc. acquired a new stake in Caribou Biosciences in the 4th quarter valued at $649,000. 77.51% of the stock is owned by institutional investors and hedge funds.

Caribou Biosciences Price Performance

Shares of NASDAQ CRBU opened at $0.73 on Thursday. The company has a market cap of $68.18 million, a PE ratio of -0.44 and a beta of 2.36. The company has a 50-day simple moving average of $1.05 and a 200-day simple moving average of $1.59. Caribou Biosciences has a 12 month low of $0.66 and a 12 month high of $4.21.

Caribou Biosciences (NASDAQ:CRBU) last issued its quarterly earnings results on Monday, March 10th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.01. Caribou Biosciences had a negative return on equity of 45.46% and a negative net margin of 1,290.81%. The company had revenue of $2.08 million during the quarter, compared to the consensus estimate of $2.11 million. On average, analysts anticipate that Caribou Biosciences will post -1.64 EPS for the current year.

Caribou Biosciences Company Profile

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.