Brokerages Set Caribou Biosciences, Inc. (NASDAQ:CRBU) Price Target at $7.75

Caribou Biosciences, Inc. (NASDAQ:CRBU) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $7.75.

A number of research firms have recently weighed in on CRBU. Weiss Ratings reissued a “sell (d-)” rating on shares of Caribou Biosciences in a research report on Friday, July 17th. Bank of America decreased their target price on shares of Caribou Biosciences from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Finally, HC Wainwright boosted their price target on Caribou Biosciences from $9.00 to $11.00 and gave the company a “buy” rating in a report on Monday, May 11th.

Caribou Biosciences Trading Down 1.8%

Caribou Biosciences stock opened at $1.61 on Friday. The stock has a 50-day moving average price of $1.67 and a 200 day moving average price of $1.84. Caribou Biosciences has a 52 week low of $1.38 and a 52 week high of $3.54. The stock has a market cap of $172.61 million, a PE ratio of -1.49 and a beta of 2.38.

Caribou Biosciences (NASDAQ:CRBU) last released its earnings results on Thursday, August 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.08. Caribou Biosciences had a negative net margin of 1,030.42% and a negative return on equity of 89.11%. The company had revenue of $1.50 million for the quarter, compared to analyst estimates of $2.28 million. On average, equities analysts predict that Caribou Biosciences will post -0.88 EPS for the current year.

Institutional Investors Weigh In On Caribou Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. CTC Alternative Strategies Ltd. purchased a new position in Caribou Biosciences during the first quarter worth about $29,000. Bronte Capital Management Pty Ltd. acquired a new stake in Caribou Biosciences in the 4th quarter worth about $25,000. Westmount Partners LLC purchased a new stake in Caribou Biosciences in the 1st quarter valued at about $37,000. Next Capital Management LLC purchased a new stake in Caribou Biosciences in the 2nd quarter valued at about $35,000. Finally, Creative Planning acquired a new position in shares of Caribou Biosciences during the 2nd quarter valued at about $25,000. Hedge funds and other institutional investors own 77.51% of the company’s stock.

Caribou Biosciences Company Profile

Caribou Biosciences, Inc is a clinical-stage biopharmaceutical company that leverages its proprietary CRISPR-Cas gene-editing platform to develop transformative cell therapies and in vivo treatments for a range of cancers and genetic diseases. The company’s core technology enables precise modification of cellular genomes, allowing the design of engineered T-cell and NK-cell therapies aimed at improving safety, efficacy and persistence in patients with hematologic and solid tumor malignancies. Alongside its oncology portfolio, Caribou is advancing in vivo editing programs targeting monogenic disorders, with initiatives in areas such as Duchenne muscular dystrophy and familial amyloidosis.

Established in 2011 and headquartered in Berkeley, California, Caribou Biosciences was co-founded by Nobel laureate Jennifer Doudna, one of the pioneers of CRISPR gene-editing technology.