Caribou Biosciences, Inc. (NASDAQ:CRBU) Sees Large Decline in Short Interest

Caribou Biosciences, Inc. (NASDAQ:CRBU - Get Free Report) saw a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 8,820,000 shares, a decrease of 13.7% from the February 28th total of 10,220,000 shares. Based on an average trading volume of 1,290,000 shares, the days-to-cover ratio is presently 6.8 days. Approximately 10.9% of the company's stock are sold short.

Caribou Biosciences Stock Performance

NASDAQ:CRBU traded down $0.01 during mid-day trading on Monday, hitting $0.76. 1,780,006 shares of the company's stock traded hands, compared to its average volume of 1,583,923. The company has a market capitalization of $70.44 million, a P/E ratio of -0.46 and a beta of 2.36. The company has a fifty day moving average of $1.17 and a 200 day moving average of $1.66. Caribou Biosciences has a twelve month low of $0.66 and a twelve month high of $4.59.

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

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Institutional Investors Weigh In On Caribou Biosciences

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on CRBU. Bank of America reduced their price target on shares of Caribou Biosciences from $13.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. HC Wainwright reaffirmed a "buy" rating and set a $9.00 target price on shares of Caribou Biosciences in a research report on Wednesday, March 19th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Caribou Biosciences presently has a consensus rating of "Buy" and a consensus price target of $10.33.

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.