Caribou Biosciences (NASDAQ:CRBU) Stock Rating Reaffirmed by Royal Bank of Canada

Caribou Biosciences (NASDAQ:CRBU)‘s stock had its “outperform” rating restated by analysts at Royal Bank of Canada in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $14.00 target price on the stock.

Several other brokerages also recently commented on CRBU. Evercore ISI downgraded shares of Caribou Biosciences from an “outperform” rating to an “inline” rating and reduced their price objective for the stock from $13.00 to $3.00 in a research report on Monday, June 3rd. HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of Caribou Biosciences in a research note on Wednesday, July 17th. Finally, Truist Financial restated a “buy” rating and set a $19.00 price objective on shares of Caribou Biosciences in a research note on Thursday, May 16th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Caribou Biosciences Price Performance

CRBU stock traded up $0.04 during midday trading on Wednesday, reaching $1.99. The company had a trading volume of 780,193 shares, compared to its average volume of 1,995,843. The company has a market capitalization of $179.73 million, a price-to-earnings ratio of -1.37 and a beta of 2.30. The stock has a 50 day moving average price of $2.04 and a 200-day moving average price of $4.09. Caribou Biosciences has a 1-year low of $1.50 and a 1-year high of $8.33.

Caribou Biosciences (NASDAQ:CRBU) last issued its earnings results on Tuesday, August 6th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.04. The firm had revenue of $3.46 million during the quarter, compared to the consensus estimate of $3.31 million. Caribou Biosciences had a negative return on equity of 33.42% and a negative net margin of 345.05%. As a group, research analysts anticipate that Caribou Biosciences will post -1.8 earnings per share for the current year.

Hedge Funds Weigh In On Caribou Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in CRBU. China Universal Asset Management Co. Ltd. grew its stake in shares of Caribou Biosciences by 66.5% in the first quarter. China Universal Asset Management Co. Ltd. now owns 17,024 shares of the company’s stock worth $88,000 after acquiring an additional 6,798 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Caribou Biosciences in the first quarter worth about $113,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Caribou Biosciences in the fourth quarter worth about $150,000. Bayesian Capital Management LP bought a new position in shares of Caribou Biosciences in the first quarter worth about $151,000. Finally, Walleye Trading LLC bought a new stake in Caribou Biosciences during the 1st quarter valued at approximately $155,000. Institutional investors own 77.51% of the company’s stock.

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.