Caribou Biosciences (NASDAQ:CRBU) Trading 1.9% Higher – What’s Next?

Caribou Biosciences, Inc. (NASDAQ:CRBU)’s stock price shot up 1.9% on Tuesday . The company traded as high as $1.7250 and last traded at $1.65. Approximately 1,605,749 shares changed hands during trading, a decline of 38% from the average daily volume of 2,591,512 shares. The stock had previously closed at $1.62.

Wall Street Analyst Weigh In

Several research firms have issued reports on CRBU. Truist Financial upgraded shares of Caribou Biosciences to a “strong-buy” rating in a report on Wednesday, March 25th. HC Wainwright upped their price objective on shares of Caribou Biosciences from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Caribou Biosciences in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Caribou Biosciences currently has an average rating of “Moderate Buy” and an average price target of $8.67.

Caribou Biosciences Trading Up 1.9%

The company has a 50-day moving average price of $1.88 and a two-hundred day moving average price of $1.84. The stock has a market capitalization of $163.65 million, a P/E ratio of -1.16 and a beta of 2.36.

Caribou Biosciences (NASDAQ:CRBU) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.07. Caribou Biosciences had a negative return on equity of 84.17% and a negative net margin of 1,189.14%.The company had revenue of $2.40 million for the quarter, compared to the consensus estimate of $2.21 million. Research analysts forecast that Caribou Biosciences, Inc. will post -1.15 earnings per share for the current year.

Hedge Funds Weigh In On Caribou Biosciences

Institutional investors have recently added to or reduced their stakes in the business. Creative Planning bought a new position in shares of Caribou Biosciences during the 2nd quarter worth approximately $25,000. Bronte Capital Management Pty Ltd. acquired a new stake in shares of Caribou Biosciences during the 4th quarter worth approximately $25,000. CTC Alternative Strategies Ltd. bought a new stake in shares of Caribou Biosciences in the 1st quarter valued at $29,000. Hudson Bay Capital Management LP bought a new stake in shares of Caribou Biosciences in the 2nd quarter valued at $30,000. Finally, Westmount Partners LLC bought a new stake in shares of Caribou Biosciences in the 1st quarter valued at $37,000. 77.51% of the stock is owned by institutional investors and hedge funds.

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.