Caribou Biosciences (NASDAQ:CRBU) Given Buy Rating at HC Wainwright

Caribou Biosciences (NASDAQ:CRBU)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $9.00 price target on the stock.

Other equities research analysts have also issued research reports about the stock. Bank of America cut their price target on shares of Caribou Biosciences from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Citigroup cut their price target on shares of Caribou Biosciences from $30.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $10.33.

Caribou Biosciences Stock Down 6.8 %

Shares of NASDAQ:CRBU opened at $0.95 on Wednesday. The stock has a market cap of $88.38 million, a PE ratio of -0.58 and a beta of 2.34. The company’s fifty day moving average is $1.33 and its 200 day moving average is $1.76. Caribou Biosciences has a 52 week low of $0.95 and a 52 week high of $5.77.

Caribou Biosciences (NASDAQ:CRBU) last announced its quarterly earnings results on Monday, March 10th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. The business had revenue of $2.08 million for the quarter, compared to analyst estimates of $2.11 million. Caribou Biosciences had a negative net margin of 1,290.81% and a negative return on equity of 45.46%. Sell-side analysts anticipate that Caribou Biosciences will post -1.64 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CRBU. Centric Wealth Management purchased a new position in shares of Caribou Biosciences during the fourth quarter valued at approximately $27,000. Erste Asset Management GmbH bought a new position in shares of Caribou Biosciences in the third quarter worth approximately $28,000. Russell Investments Group Ltd. boosted its position in shares of Caribou Biosciences by 859.0% in the fourth quarter. Russell Investments Group Ltd. now owns 23,909 shares of the company’s stock worth $38,000 after purchasing an additional 21,416 shares during the period. MetLife Investment Management LLC boosted its position in shares of Caribou Biosciences by 60.0% during the fourth quarter. MetLife Investment Management LLC now owns 24,404 shares of the company’s stock worth $39,000 after acquiring an additional 9,148 shares during the last quarter. Finally, Diametric Capital LP bought a new position in shares of Caribou Biosciences during the fourth quarter worth $42,000. 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.