Caribou Biosciences (NASDAQ:CRBU) Price Target Lowered to $11.00 at Bank of America

Caribou Biosciences (NASDAQ:CRBU) had its price target reduced by equities research analysts at Bank of America from $13.00 to $11.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 480.47% from the stock’s current price.

A number of other research firms also recently weighed in on CRBU. HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of Caribou Biosciences in a report on Friday, November 15th. Citigroup dropped their price objective on shares of Caribou Biosciences from $30.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $10.33.

Caribou Biosciences Price Performance

NASDAQ CRBU traded up $0.02 during trading hours on Tuesday, hitting $1.90. The company’s stock had a trading volume of 1,088,002 shares, compared to its average volume of 1,302,220. Caribou Biosciences has a 12 month low of $1.50 and a 12 month high of $8.33. The company’s 50 day simple moving average is $2.03 and its two-hundred day simple moving average is $2.00. The company has a market cap of $171.60 million, a P/E ratio of -1.15 and a beta of 2.34.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Erste Asset Management GmbH purchased a new stake in Caribou Biosciences during the third quarter valued at $28,000. AQR Capital Management LLC bought a new position in shares of Caribou Biosciences in the 2nd quarter valued at about $30,000. China Universal Asset Management Co. Ltd. grew its position in Caribou Biosciences by 63.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 17,380 shares of the company’s stock worth $34,000 after acquiring an additional 6,768 shares in the last quarter. Intech Investment Management LLC bought a new stake in Caribou Biosciences during the third quarter worth approximately $43,000. Finally, Point72 DIFC Ltd raised its position in Caribou Biosciences by 389.4% during the second quarter. Point72 DIFC Ltd now owns 30,157 shares of the company’s stock valued at $49,000 after purchasing an additional 23,995 shares during the period. 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.