HC Wainwright Reaffirms “Buy” Rating for Caribou Biosciences (NASDAQ:CRBU)

Caribou Biosciences (NASDAQ:CRBUGet Free Report)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research note issued to investors on Monday, Benzinga reports. They currently have a $24.00 price objective on the stock.

Caribou Biosciences Stock Performance

Caribou Biosciences stock traded up $0.22 during trading hours on Monday, hitting $3.76. 1,930,249 shares of the stock were exchanged, compared to its average volume of 1,625,528. Caribou Biosciences has a 12 month low of $3.44 and a 12 month high of $8.59. The business’s 50-day moving average is $4.78 and its two-hundred day moving average is $5.40. The stock has a market capitalization of $339.60 million, a P/E ratio of -2.60 and a beta of 2.56.

Caribou Biosciences (NASDAQ:CRBUGet Free Report) last released its quarterly earnings results on Monday, March 11th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.17). Caribou Biosciences had a negative net margin of 345.05% and a negative return on equity of 33.42%. The company had revenue of $3.56 million for the quarter, compared to the consensus estimate of $5.17 million. On average, equities analysts predict that Caribou Biosciences will post -1.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Caribou Biosciences

Hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC increased its position in shares of Caribou Biosciences by 8.3% during the first quarter. Acadian Asset Management LLC now owns 156,238 shares of the company’s stock worth $802,000 after acquiring an additional 11,921 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Caribou Biosciences by 3.8% during the first quarter. Vanguard Group Inc. now owns 4,110,795 shares of the company’s stock worth $21,129,000 after acquiring an additional 148,751 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of Caribou Biosciences during the first quarter worth $113,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Caribou Biosciences during the first quarter worth $558,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Caribou Biosciences by 32.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 230,192 shares of the company’s stock worth $1,097,000 after acquiring an additional 56,586 shares in the last quarter. 77.51% of the stock is currently owned by institutional investors and hedge funds.

About Caribou Biosciences

(Get Free Report)

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.

Further Reading

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