Insider Buying: Caribou Biosciences, Inc. (NASDAQ:CRBU) CEO Acquires 20,000 Shares of Stock

Caribou Biosciences, Inc. (NASDAQ:CRBU - Get Free Report) CEO Rachel E. Haurwitz bought 20,000 shares of the company's stock in a transaction on Friday, March 14th. The stock was bought at an average price of $1.02 per share, with a total value of $20,400.00. Following the completion of the acquisition, the chief executive officer now owns 3,369,395 shares in the company, valued at $3,436,782.90. This represents a 0.60 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Caribou Biosciences Price Performance

Shares of NASDAQ:CRBU traded up $0.04 during mid-day trading on Friday, reaching $1.04. 1,140,789 shares of the company were exchanged, compared to its average volume of 1,598,411. The firm has a market cap of $96.73 million, a price-to-earnings ratio of -0.63 and a beta of 2.34. Caribou Biosciences, Inc. has a 1 year low of $0.95 and a 1 year high of $5.77. The firm's 50-day simple moving average is $1.30 and its 200 day simple moving average is $1.75.

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

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Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Bank of America decreased their target price on shares of Caribou Biosciences from $13.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. HC Wainwright reiterated a "buy" rating and issued a $9.00 price objective on shares of Caribou Biosciences in a report on Wednesday. Finally, Citigroup lowered their price objective on Caribou Biosciences from $30.00 to $6.00 and set a "buy" rating for the company in a research report on Tuesday, November 26th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $10.33.

Hedge Funds Weigh In On Caribou Biosciences

Several institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new position in shares of Caribou Biosciences in the fourth quarter valued at approximately $222,000. Two Sigma Investments LP lifted its holdings in Caribou Biosciences by 23.7% during the 4th quarter. Two Sigma Investments LP now owns 1,118,696 shares of the company's stock worth $1,779,000 after buying an additional 214,239 shares in the last quarter. Two Sigma Advisers LP boosted its position in Caribou Biosciences by 39.5% in the 4th quarter. Two Sigma Advisers LP now owns 1,470,700 shares of the company's stock valued at $2,338,000 after buying an additional 416,600 shares during the period. Nuveen Asset Management LLC grew its stake in shares of Caribou Biosciences by 23.6% in the fourth quarter. Nuveen Asset Management LLC now owns 330,831 shares of the company's stock worth $526,000 after acquiring an additional 63,096 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Caribou Biosciences by 52.9% during the fourth quarter. Millennium Management LLC now owns 859,825 shares of the company's stock worth $1,367,000 after acquiring an additional 297,351 shares during the period. 77.51% of the stock is owned by institutional investors and hedge funds.

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.