Caribou Biosciences, Inc. (NASDAQ:CRBU) Receives Average Recommendation of “Buy” from Brokerages

Shares of Caribou Biosciences, Inc. (NASDAQ:CRBU – Get Rating) have received an average rating of “Buy” from the nine ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $29.71.

Several analysts recently weighed in on the company. Royal Bank of Canada assumed coverage on Caribou Biosciences in a research note on Thursday, February 17th. They issued an “outperform” rating and a $22.00 price objective on the stock. Brookline Capital Management reaffirmed a “buy” rating on shares of Caribou Biosciences in a research note on Monday, February 14th. Brookline Capital Acquisition started coverage on Caribou Biosciences in a research report on Monday, February 14th. They issued a “buy” rating and a $19.00 target price for the company. SVB Leerink increased their target price on Caribou Biosciences from $30.00 to $34.00 in a research report on Thursday, May 12th. Finally, Citigroup increased their target price on Caribou Biosciences from $29.00 to $39.00 in a research report on Thursday, May 12th.

CRBU stock traded down $0.40 during trading hours on Tuesday, hitting $7.91. 12,889 shares of the stock were exchanged, compared to its average volume of 642,224. The firm has a market capitalization of $480.18 million and a P/E ratio of -3.22. Caribou Biosciences has a 12 month low of $6.41 and a 12 month high of $32.65. The company has a 50-day simple moving average of $8.48 and a two-hundred day simple moving average of $11.99.

Caribou Biosciences (NASDAQ:CRBU – Get Rating) last released its earnings results on Monday, May 9th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.03. Caribou Biosciences had a negative return on equity of 27.80% and a negative net margin of 682.39%. Equities research analysts anticipate that Caribou Biosciences will post -1.54 EPS for the current year.

A number of hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in Caribou Biosciences in the third quarter valued at approximately $206,000. Deutsche Bank AG purchased a new position in shares of Caribou Biosciences during the third quarter valued at approximately $279,000. BlackRock Inc. purchased a new position in shares of Caribou Biosciences during the third quarter valued at approximately $28,204,000. Alliancebernstein L.P. purchased a new position in shares of Caribou Biosciences during the third quarter valued at approximately $585,000. Finally, Citigroup Inc. purchased a new position in shares of Caribou Biosciences during the third quarter valued at approximately $53,000. Institutional investors and hedge funds own 62.86% of the company’s stock.

About Caribou Biosciences (Get Rating)

Caribou Biosciences, Inc, a clinical-stage biopharmaceutical company, engages in the development of genome-edited allogeneic cell therapies for the treatment of hematologic malignancies and solid tumors in the United States and internationally. Its lead product candidates are 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; and CB-011, an allogeneic anti-BCMA CAR-T cell therapy for the treatment of relapsed or refractory multiple myeloma.

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