Caribou Biosciences (NASDAQ:CRBU) Stock Price Up 3.8% – Should You Buy?

Shares of Caribou Biosciences, Inc. (NASDAQ:CRBU) traded up 3.8% during trading on Wednesday . The stock traded as high as $1.64 and last traded at $1.62. 2,183,427 shares traded hands during trading, an increase of 98% from the average session volume of 1,105,316 shares. The stock had previously closed at $1.56.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Truist Financial set a $7.00 target price on shares of Caribou Biosciences in a research report on Tuesday, November 4th. HC Wainwright lifted their price target on shares of Caribou Biosciences from $3.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Citigroup increased their price objective on shares of Caribou Biosciences from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Caribou Biosciences in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $8.00.

Caribou Biosciences Trading Up 3.8%

The firm has a market cap of $151.42 million, a P/E ratio of -0.95 and a beta of 2.61. The company’s 50-day moving average is $1.66 and its two-hundred day moving average is $1.95.

Caribou Biosciences (NASDAQ:CRBU) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.06. Caribou Biosciences had a negative return on equity of 69.85% and a negative net margin of 1,690.45%.The firm had revenue of $2.20 million during the quarter, compared to analyst estimates of $1.94 million. Research analysts anticipate that Caribou Biosciences, Inc. will post -1.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Caribou Biosciences

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Caribou Biosciences by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,226,926 shares of the company’s stock worth $9,849,000 after acquiring an additional 137,060 shares during the last quarter. Millennium Management LLC boosted its holdings in Caribou Biosciences by 107.4% during the third quarter. Millennium Management LLC now owns 3,216,535 shares of the company’s stock worth $7,495,000 after purchasing an additional 1,665,946 shares during the last quarter. Aberdeen Group plc grew its position in Caribou Biosciences by 54.7% in the 3rd quarter. Aberdeen Group plc now owns 1,388,905 shares of the company’s stock worth $3,236,000 after purchasing an additional 491,326 shares in the last quarter. Bank of America Corp DE increased its stake in Caribou Biosciences by 32.8% in the 3rd quarter. Bank of America Corp DE now owns 1,074,442 shares of the company’s stock valued at $2,503,000 after buying an additional 265,542 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Caribou Biosciences by 741.6% in the 1st quarter. AQR Capital Management LLC now owns 525,878 shares of the company’s stock valued at $480,000 after buying an additional 463,391 shares during the last quarter. 77.51% of the stock is currently owned by institutional investors.

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.