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

Caribou Biosciences (NASDAQ:CRBU)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a note issued to investors on Friday,Benzinga reports. They presently have a $9.00 target price on the stock. HC Wainwright’s price target would suggest a potential upside of 352.26% from the stock’s current price.

Separately, Royal Bank of Canada reiterated an “outperform” rating and set a $14.00 price objective on shares of Caribou Biosciences in a research note on Wednesday, August 7th.

Caribou Biosciences Stock Down 4.8 %

Shares of NASDAQ:CRBU opened at $1.99 on Friday. The business’s 50 day moving average is $2.04 and its 200 day moving average is $2.23. The stock has a market cap of $180.20 million, a P/E ratio of -1.21 and a beta of 2.26. Caribou Biosciences has a 52-week low of $1.50 and a 52-week high of $8.33.

Caribou Biosciences (NASDAQ:CRBU) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.38) EPS 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. On average, sell-side analysts anticipate that Caribou Biosciences will post -1.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Renaissance Technologies LLC purchased a new position in Caribou Biosciences in the second quarter worth $2,432,000. Dimensional Fund Advisors LP grew its stake in Caribou Biosciences by 25.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,623,283 shares of the company’s stock worth $4,302,000 after buying an additional 536,162 shares during the last quarter. PFM Health Sciences LP increased its position in Caribou Biosciences by 5.5% during the 3rd quarter. PFM Health Sciences LP now owns 4,306,671 shares of the company’s stock valued at $8,441,000 after buying an additional 223,299 shares in the last quarter. XTX Topco Ltd purchased a new stake in Caribou Biosciences in the second quarter valued at about $341,000. Finally, Vanguard Group Inc. boosted its holdings in Caribou Biosciences by 3.8% in 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. 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.