Caribou Biosciences (NASDAQ:CRBU) Given New $6.00 Price Target at Citigroup

Caribou Biosciences (NASDAQ:CRBU) had its price target reduced by Citigroup from $30.00 to $6.00 in a report released on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other analysts have also commented on CRBU. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $14.00 price target on shares of Caribou Biosciences in a research note on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Caribou Biosciences in a research note on Friday, November 15th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Caribou Biosciences currently has an average rating of “Buy” and an average price target of $10.20.

Caribou Biosciences Stock Performance

Shares of NASDAQ:CRBU opened at $2.02 on Tuesday. The business’s 50 day moving average is $2.04 and its 200-day moving average is $2.15. The firm has a market capitalization of $182.91 million, a PE ratio of -1.22 and a beta of 2.26. Caribou Biosciences has a 1-year low of $1.50 and a 1-year high of $8.33.

Caribou Biosciences (NASDAQ:CRBU) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.06. The business had revenue of $2.02 million for the quarter, compared to analyst estimates of $3.37 million. Caribou Biosciences had a negative return on equity of 45.46% and a negative net margin of 1,290.81%. On average, sell-side analysts predict that Caribou Biosciences will post -1.64 EPS for the current year.

Hedge Funds Weigh In On Caribou Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of CRBU. The Manufacturers Life Insurance Company raised its position in shares of Caribou Biosciences by 16.8% during the second quarter. The Manufacturers Life Insurance Company now owns 36,489 shares of the company’s stock worth $60,000 after acquiring an additional 5,244 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Caribou Biosciences by 63.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 17,380 shares of the company’s stock worth $34,000 after acquiring an additional 6,768 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of Caribou Biosciences during the third quarter worth $28,000. American Century Companies Inc. raised its position in shares of Caribou Biosciences by 15.2% during the second quarter. American Century Companies Inc. now owns 125,029 shares of the company’s stock worth $205,000 after acquiring an additional 16,530 shares during the last quarter. Finally, AQR Capital Management LLC bought a new stake in shares of Caribou Biosciences during the second quarter worth $30,000. Institutional investors and hedge funds 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.