Caribou Biosciences, Inc. (NASDAQ:CRBU) Sees Significant Increase in Short Interest

Caribou Biosciences, Inc. (NASDAQ:CRBU) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 12,270,000 shares, a growth of 6.6% from the May 31st total of 11,510,000 shares. Currently, 15.4% of the company’s stock are sold short. Based on an average daily volume of 2,310,000 shares, the days-to-cover ratio is presently 5.3 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Avidity Partners Management LP grew its position in Caribou Biosciences by 5.1% in the 4th quarter. Avidity Partners Management LP now owns 6,360,212 shares of the company’s stock valued at $36,444,000 after buying an additional 310,000 shares in the last quarter. Vanguard Group Inc. raised its position in Caribou Biosciences by 3.8% in the first quarter. Vanguard Group Inc. now owns 4,110,795 shares of the company’s stock worth $21,129,000 after acquiring an additional 148,751 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Caribou Biosciences by 57.7% during the fourth quarter. Wellington Management Group LLP now owns 314,080 shares of the company’s stock worth $1,800,000 after buying an additional 114,975 shares in the last quarter. Westwood Holdings Group Inc. increased its holdings in shares of Caribou Biosciences by 81.9% in the fourth quarter. Westwood Holdings Group Inc. now owns 277,205 shares of the company’s stock valued at $1,588,000 after buying an additional 124,769 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Caribou Biosciences by 32.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 230,192 shares of the company’s stock valued at $1,097,000 after acquiring an additional 56,586 shares during the last quarter. 77.51% of the stock is owned by institutional investors and hedge funds.

Caribou Biosciences Stock Performance

NASDAQ:CRBU opened at $1.60 on Thursday. The company has a market capitalization of $144.51 million, a price-to-earnings ratio of -1.10 and a beta of 2.29. Caribou Biosciences has a one year low of $1.54 and a one year high of $8.59. The stock has a 50-day simple moving average of $2.68 and a 200 day simple moving average of $4.69.

Caribou Biosciences (NASDAQ:CRBU) last released its earnings results on Tuesday, May 7th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.07). Caribou Biosciences had a negative return on equity of 33.42% and a negative net margin of 345.05%. The firm had revenue of $2.43 million for the quarter, compared to the consensus estimate of $3.00 million. On average, equities research analysts forecast that Caribou Biosciences will post -1.8 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CRBU shares. Truist Financial reaffirmed a “buy” rating and set a $19.00 price target on shares of Caribou Biosciences in a research note on Thursday, May 16th. HC Wainwright dropped their target price on Caribou Biosciences from $24.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. Finally, Evercore ISI downgraded Caribou Biosciences from an “outperform” rating to an “inline” rating and reduced their price target for the company from $13.00 to $3.00 in a report on Monday, June 3rd.

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.