Caribou Biosciences (NASDAQ:CRBU) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Caribou Biosciences (NASDAQ:CRBU) issued its quarterly earnings results on Tuesday. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.04, Yahoo Finance reports. 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%.

Caribou Biosciences Stock Down 2.8 %

CRBU stock traded down $0.06 on Wednesday, reaching $1.90. 1,610,942 shares of the company’s stock were exchanged, compared to its average volume of 2,001,304. The stock has a fifty day moving average of $2.04 and a 200-day moving average of $4.09. The firm has a market cap of $171.60 million, a PE ratio of -1.31 and a beta of 2.30. Caribou Biosciences has a twelve month low of $1.50 and a twelve month high of $8.33.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CRBU shares. Truist Financial reaffirmed a “buy” rating and issued a $19.00 target price on shares of Caribou Biosciences in a report on Thursday, May 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Caribou Biosciences in a research report on Wednesday. HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of Caribou Biosciences in a report on Wednesday, July 17th. Finally, Evercore ISI downgraded Caribou Biosciences from an “outperform” rating to an “inline” rating and decreased their price target for the stock from $13.00 to $3.00 in a report on Monday, June 3rd. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

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.