Caribou Biosciences (NASDAQ:CRBU) Given New $6.00 Price Target at Citigroup

Caribou Biosciences (NASDAQ:CRBU) had its target price cut by analysts at Citigroup from $30.00 to $6.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 180.37% from the stock’s current price.

Several other research firms also recently issued reports on CRBU. HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Caribou Biosciences in a report on Friday, November 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $14.00 target price on shares of Caribou Biosciences in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $10.20.

Caribou Biosciences Price Performance

NASDAQ CRBU traded up $0.12 on Tuesday, hitting $2.14. 1,234,526 shares of the stock were exchanged, compared to its average volume of 1,706,828. The company’s 50-day moving average price is $2.04 and its two-hundred day moving average price is $2.15. Caribou Biosciences has a 52-week low of $1.50 and a 52-week high of $8.33. The company has a market capitalization of $193.78 million, a price-to-earnings ratio of -1.30 and a beta of 2.26.

Caribou Biosciences (NASDAQ:CRBU) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.06. Caribou Biosciences had a negative return on equity of 45.46% and a negative net margin of 1,290.81%. The firm had revenue of $2.02 million for the quarter, compared to analyst estimates of $3.37 million. Equities analysts predict that Caribou Biosciences will post -1.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Caribou Biosciences

Several large investors have recently modified their holdings of the business. Barclays PLC increased its stake in Caribou Biosciences by 122.4% during the 3rd quarter. Barclays PLC now owns 129,839 shares of the company’s stock worth $255,000 after purchasing an additional 71,463 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Caribou Biosciences by 6.5% in the third quarter. Geode Capital Management LLC now owns 2,030,443 shares of the company’s stock valued at $3,980,000 after buying an additional 124,782 shares during the period. Erste Asset Management GmbH bought a new stake in shares of Caribou Biosciences during the third quarter worth $28,000. PFM Health Sciences LP raised its holdings in shares of Caribou Biosciences by 5.5% during the third quarter. PFM Health Sciences LP now owns 4,306,671 shares of the company’s stock worth $8,441,000 after acquiring an additional 223,299 shares during the period. Finally, Walleye Capital LLC lifted its position in Caribou Biosciences by 45.9% in the 3rd quarter. Walleye Capital LLC now owns 237,599 shares of the company’s stock valued at $466,000 after acquiring an additional 74,799 shares in the last quarter. 77.51% of the stock is currently owned by institutional investors.

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.