Bank of America Has Lowered Expectations for Caribou Biosciences (NASDAQ:CRBU) Stock Price

Caribou Biosciences (NASDAQ:CRBU) had its price target cut by Bank of America from $13.00 to $11.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently commented on CRBU. 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. HC Wainwright reaffirmed a “buy” rating and set a $9.00 target price on shares of Caribou Biosciences in a research note on Friday, November 15th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $10.33.

Caribou Biosciences Price Performance

NASDAQ:CRBU opened at $1.72 on Tuesday. The firm has a market capitalization of $155.75 million, a price-to-earnings ratio of -1.04 and a beta of 2.34. The business has a 50 day simple moving average of $2.02 and a 200-day simple moving average of $2.00. Caribou Biosciences has a 1 year low of $1.50 and a 1 year high of $8.33.

Caribou Biosciences (NASDAQ:CRBU) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.02 million during the quarter, compared to the consensus estimate of $3.37 million. As a group, analysts expect that Caribou Biosciences will post -1.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CRBU. Renaissance Technologies LLC purchased a new stake in shares of Caribou Biosciences in the 2nd quarter worth $2,432,000. Dimensional Fund Advisors LP raised its holdings in shares of Caribou Biosciences by 25.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,623,283 shares of the company’s stock valued at $4,302,000 after acquiring an additional 536,162 shares in the last quarter. Geode Capital Management LLC lifted its stake in Caribou Biosciences by 6.5% in the third quarter. Geode Capital Management LLC now owns 2,030,443 shares of the company’s stock worth $3,980,000 after acquiring an additional 124,782 shares during the period. Exchange Traded Concepts LLC grew its holdings in Caribou Biosciences by 103.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 82,494 shares of the company’s stock worth $162,000 after acquiring an additional 41,948 shares in the last quarter. Finally, Barclays PLC increased its position in Caribou Biosciences by 122.4% during the 3rd quarter. Barclays PLC now owns 129,839 shares of the company’s stock valued at $255,000 after purchasing an additional 71,463 shares during the period. Institutional investors own 77.51% of the company’s stock.

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.