Short Interest in Caribou Biosciences, Inc. (NASDAQ:CRBU) Drops By 13.7%

Caribou Biosciences, Inc. (NASDAQ:CRBU) was the recipient of a significant decrease in short interest during 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 short-interest ratio is presently 6.8 days. Approximately 10.9% of the company’s shares are sold short.

Caribou Biosciences Stock Performance

Shares of NASDAQ CRBU opened at $0.79 on Friday. The company has a market capitalization of $73.01 million, a price-to-earnings ratio of -0.48 and a beta of 2.34. The company has a 50 day simple moving average of $1.18 and a two-hundred day simple moving average of $1.67. Caribou Biosciences has a fifty-two week low of $0.72 and a fifty-two week high of $4.85.

Caribou Biosciences (NASDAQ:CRBU) last issued its quarterly earnings results on Monday, March 10th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.01. The firm had revenue of $2.08 million during the quarter, compared to the consensus estimate 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, analysts forecast that Caribou Biosciences will post -1.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CRBU has been the topic of a number of research analyst reports. HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Caribou Biosciences in a report on Wednesday, March 19th. Bank of America decreased their price objective 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. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $10.33.

Institutional Trading of Caribou Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. increased its holdings in Caribou Biosciences by 475.9% in the 4th quarter. JPMorgan Chase & Co. now owns 2,495,922 shares of the company’s stock worth $3,969,000 after buying an additional 2,062,563 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Caribou Biosciences during the 4th quarter valued at about $1,921,000. Schonfeld Strategic Advisors LLC grew its stake in shares of Caribou Biosciences by 28.4% in 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 holdings in shares of 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 purchasing an additional 416,600 shares during the last quarter. Finally, Ameriprise Financial Inc. bought a new position in Caribou Biosciences during the fourth quarter valued at approximately $649,000. Institutional investors 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.