Caribou Biosciences (NASDAQ:CRBU) Price Target Lowered to $6.00 at Citigroup

Caribou Biosciences (NASDAQ:CRBU) had its target price dropped by equities researchers at Citigroup from $30.00 to $6.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 180.37% from the stock’s current price.

CRBU has been the topic of a number of other research reports. Royal Bank of Canada reissued an “outperform” rating and set a $14.00 price target on shares of Caribou Biosciences in a report on Wednesday, August 7th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of Caribou Biosciences in a research note on Friday, November 15th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $10.20.

Caribou Biosciences Price Performance

Shares of Caribou Biosciences stock traded up $0.12 on Tuesday, reaching $2.14. 1,234,526 shares of the company were exchanged, compared to its average volume of 1,706,828. The stock’s 50 day moving average price is $2.04 and its 200-day moving average price is $2.15. The company has a market cap of $193.78 million, a P/E ratio of -1.30 and a beta of 2.26. Caribou Biosciences has a 1-year low of $1.50 and a 1-year high of $8.33.

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

Institutional Investors Weigh In On Caribou Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of CRBU. PFM Health Sciences LP lifted its stake in Caribou Biosciences by 5.5% in the third 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 during the last quarter. Vanguard Group Inc. increased its position in Caribou Biosciences by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 4,110,795 shares of the company’s stock valued at $21,129,000 after acquiring an additional 148,751 shares during the period. Dimensional Fund Advisors LP raised 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 valued at $4,302,000 after acquiring an additional 536,162 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Caribou Biosciences by 6.5% during the third quarter. Geode Capital Management LLC now owns 2,030,443 shares of the company’s stock valued at $3,980,000 after purchasing an additional 124,782 shares during the period. Finally, FMR LLC lifted its holdings in Caribou Biosciences by 7.4% in the third quarter. FMR LLC now owns 1,581,493 shares of the company’s stock worth $3,100,000 after purchasing an additional 109,606 shares during the period. Institutional investors and hedge funds 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.