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

Caribou Biosciences (NASDAQ:CRBU)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a report issued on Wednesday,Benzinga reports. They currently have a $9.00 target price on the stock.

CRBU has been the topic of several other reports. Bank of America dropped their target price 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 dropped their target price 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 investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $10.33.

Caribou Biosciences Price Performance

CRBU stock opened at $0.95 on Wednesday. The company has a market capitalization of $88.38 million, a PE ratio of -0.58 and a beta of 2.34. Caribou Biosciences has a 12 month low of $0.95 and a 12 month high of $5.77. The firm’s 50-day moving average is $1.33 and its 200 day moving average is $1.76.

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

Hedge Funds Weigh In On Caribou Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of CRBU. JPMorgan Chase & Co. raised its position in Caribou Biosciences by 475.9% during 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 during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Caribou Biosciences during the 4th quarter valued at approximately $1,921,000. Schonfeld Strategic Advisors LLC increased its holdings in shares of Caribou Biosciences by 28.4% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 2,113,272 shares of the company’s stock valued at $3,360,000 after purchasing an additional 467,738 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of Caribou Biosciences by 39.5% during the 4th 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 in the last quarter. Finally, Ameriprise Financial Inc. purchased a new position in shares of Caribou Biosciences during the 4th quarter valued at approximately $649,000. 77.51% of the stock is owned by hedge funds and other institutional investors.

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.