Caribou Biosciences (NASDAQ:CRBU) Receives Buy Rating from HC Wainwright

Caribou Biosciences (NASDAQ:CRBU - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They currently have a $9.00 price target on the stock. HC Wainwright's price objective points to a potential upside of 352.26% from the stock's previous close.

Separately, Royal Bank of Canada reiterated an "outperform" rating and issued a $14.00 price objective on shares of Caribou Biosciences in a research note on Wednesday, August 7th.

Caribou Biosciences Price Performance

Shares of CRBU stock traded down $0.10 during trading hours on Friday, reaching $1.99. 1,725,564 shares of the company were exchanged, compared to its average volume of 1,717,995. The stock's fifty day moving average is $2.04 and its two-hundred day moving average is $2.26. Caribou Biosciences has a fifty-two week low of $1.50 and a fifty-two week high of $8.33. The company has a market cap of $180.19 million, a price-to-earnings ratio of -1.27 and a beta of 2.26.

Caribou Biosciences (NASDAQ:CRBU - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.38) earnings per share for the quarter, beating analysts' consensus estimates of ($0.44) by $0.06. The business had revenue of $2.02 million during the quarter, compared to the consensus estimate of $3.37 million. Caribou Biosciences had a negative net margin of 1,290.81% and a negative return on equity of 45.46%. On average, research analysts anticipate that Caribou Biosciences will post -1.67 earnings per share for the current year.

Institutional Investors Weigh In On Caribou Biosciences

Several institutional investors have recently added to or reduced their stakes in CRBU. Erste Asset Management GmbH bought a new position in Caribou Biosciences during the third quarter valued at approximately $28,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Caribou Biosciences by 63.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 17,380 shares of the company's stock worth $34,000 after purchasing an additional 6,768 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of Caribou Biosciences in the second quarter worth approximately $30,000. Entropy Technologies LP bought a new position in shares of Caribou Biosciences in the first quarter worth approximately $113,000. Finally, Intech Investment Management LLC bought a new position in shares of Caribou Biosciences in the third quarter worth approximately $43,000. 77.51% of the stock is owned by hedge funds and other institutional investors.

About Caribou Biosciences

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.