Caribou Biosciences (NASDAQ:CRBU) Given New $11.00 Price Target at Bank of America

Caribou Biosciences (NASDAQ:CRBU) had its price objective reduced by Bank of America from $13.00 to $11.00 in a research note released on Tuesday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other analysts have also recently issued reports on CRBU. Citigroup reduced their price target on shares of Caribou Biosciences from $30.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Caribou Biosciences in a research report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $10.33.

Caribou Biosciences Stock Performance

NASDAQ:CRBU opened at $1.87 on Tuesday. Caribou Biosciences has a fifty-two week low of $1.50 and a fifty-two week high of $8.33. The company has a 50 day moving average price of $2.03 and a 200 day moving average price of $2.00. The stock has a market capitalization of $169.33 million, a P/E ratio of -1.13 and a beta of 2.34.

Caribou Biosciences (NASDAQ:CRBU) last issued its quarterly earnings data 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. Caribou Biosciences had a negative return on equity of 45.46% and a negative net margin of 1,290.81%. The business had revenue of $2.02 million during the quarter, compared to analysts’ expectations of $3.37 million. Research analysts forecast that Caribou Biosciences will post -1.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Caribou Biosciences

A number of large investors have recently modified their holdings of CRBU. Erste Asset Management GmbH acquired a new position in shares of Caribou Biosciences during the third quarter worth $28,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Caribou Biosciences by 63.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 17,380 shares of the company’s stock worth $34,000 after acquiring an additional 6,768 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of Caribou Biosciences in the 2nd quarter valued at about $30,000. Intech Investment Management LLC purchased a new stake in Caribou Biosciences during the third quarter worth approximately $43,000. Finally, Point72 DIFC Ltd boosted its holdings in Caribou Biosciences by 389.4% in the second quarter. Point72 DIFC Ltd now owns 30,157 shares of the company’s stock valued at $49,000 after purchasing an additional 23,995 shares in the last quarter. 77.51% of the stock is owned by hedge funds and other institutional investors.

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.