Caribou Biosciences (NASDAQ:CRBU) Stock Rating Reaffirmed by Royal Bank of Canada

Caribou Biosciences (NASDAQ:CRBU)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a report issued on Wednesday, Benzinga reports. They currently have a $14.00 price target on the stock.

CRBU has been the subject of several other research reports. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Caribou Biosciences in a research report on Wednesday, July 17th. Truist Financial reissued a “buy” rating and issued a $19.00 price target on shares of Caribou Biosciences in a research report on Thursday, May 16th. Finally, Evercore ISI cut shares of Caribou Biosciences from an “outperform” rating to an “inline” rating and decreased their price target for the company from $13.00 to $3.00 in a research report on Monday, June 3rd. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Caribou Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Caribou Biosciences Stock Performance

Shares of NASDAQ CRBU traded up $0.04 during midday trading on Wednesday, reaching $1.99. 780,193 shares of the stock were exchanged, compared to its average volume of 1,995,843. The company has a 50 day simple moving average of $2.04 and a 200 day simple moving average of $4.09. The stock has a market capitalization of $179.73 million, a P/E ratio of -1.37 and a beta of 2.30. Caribou Biosciences has a twelve month low of $1.50 and a twelve month high of $8.33.

Caribou Biosciences (NASDAQ:CRBU) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.04. The firm had revenue of $3.46 million during the quarter, compared to analysts’ expectations of $3.31 million. Caribou Biosciences had a negative net margin of 345.05% and a negative return on equity of 33.42%. On average, research analysts expect that Caribou Biosciences will post -1.8 earnings per share for the current year.

Hedge Funds Weigh In On Caribou Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in shares of Caribou Biosciences by 14.1% during the second quarter. Bank of New York Mellon Corp now owns 308,273 shares of the company’s stock worth $506,000 after purchasing an additional 38,098 shares in the last quarter. Milestone Asset Management LLC purchased a new stake in Caribou Biosciences in the second quarter valued at $233,000. Virtu Financial LLC lifted its position in Caribou Biosciences by 395.8% in the first quarter. Virtu Financial LLC now owns 82,100 shares of the company’s stock valued at $422,000 after acquiring an additional 65,542 shares during the last quarter. Walleye Trading LLC purchased a new stake in Caribou Biosciences in the first quarter valued at $155,000. Finally, Bayesian Capital Management LP purchased a new stake in Caribou Biosciences in the first quarter valued at $151,000. Institutional investors and hedge funds own 77.51% of the company’s stock.

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.