Caribou Biosciences’ (CRBU) “Buy” Rating Reiterated at Truist Financial

Truist Financial reiterated their buy rating on shares of Caribou Biosciences (NASDAQ:CRBUFree Report) in a research report report published on Thursday, Benzinga reports. The brokerage currently has a $19.00 price objective on the stock.

Separately, HC Wainwright reissued a buy rating and issued a $24.00 price objective on shares of Caribou Biosciences in a research note on Monday, May 13th.

View Our Latest Stock Analysis on Caribou Biosciences

Caribou Biosciences Stock Down 5.6 %

Shares of NASDAQ CRBU opened at $3.39 on Thursday. The business has a fifty day simple moving average of $4.40 and a 200-day simple moving average of $5.39. The company has a market cap of $306.18 million, a price-to-earnings ratio of -2.34 and a beta of 2.56. Caribou Biosciences has a 12 month low of $3.37 and a 12 month high of $8.59.

Caribou Biosciences (NASDAQ:CRBUGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.07). The business had revenue of $2.43 million during the quarter, compared to analysts’ expectations of $3.00 million. Caribou Biosciences had a negative return on equity of 33.42% and a negative net margin of 345.05%. As a group, sell-side analysts expect that Caribou Biosciences will post -1.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CRBU. Deerfield Management Company L.P. Series C acquired a new position in Caribou Biosciences in the 3rd quarter worth about $16,730,000. Avidity Partners Management LP increased its position in Caribou Biosciences by 119.3% in the 3rd quarter. Avidity Partners Management LP now owns 6,050,212 shares of the company’s stock worth $28,920,000 after purchasing an additional 3,291,612 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Caribou Biosciences by 247.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,648,582 shares of the company’s stock worth $12,660,000 after purchasing an additional 1,886,484 shares during the last quarter. Vanguard Group Inc. increased its position in Caribou Biosciences by 49.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,822,151 shares of the company’s stock worth $18,270,000 after purchasing an additional 1,261,920 shares during the last quarter. Finally, Kynam Capital Management LP acquired a new position in Caribou Biosciences in the 3rd quarter worth about $5,108,000. 77.51% of the stock is owned by institutional investors and hedge funds.

Caribou Biosciences Company Profile

(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.

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