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

Caribou Biosciences (NASDAQ:CRBU)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They currently have a $9.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 330.62% from the company’s previous close.

Separately, Royal Bank of Canada restated an “outperform” rating and set a $14.00 target price on shares of Caribou Biosciences in a report on Wednesday, August 7th.

Caribou Biosciences Stock Performance

Caribou Biosciences stock opened at $2.09 on Friday. Caribou Biosciences has a one year low of $1.50 and a one year high of $8.33. The company has a market cap of $189.25 million, a P/E ratio of -1.27 and a beta of 2.26. The business has a fifty day moving average of $2.04 and a two-hundred day moving average of $2.26.

Caribou Biosciences (NASDAQ:CRBU) last issued its 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 company had revenue of $2.02 million during the quarter, compared to analysts’ expectations of $3.37 million. Caribou Biosciences had a negative net margin of 1,290.81% and a negative return on equity of 45.46%. Sell-side analysts predict that Caribou Biosciences will post -1.67 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. PFM Health Sciences LP grew its position in shares of 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 purchasing an additional 223,299 shares during the period. Vanguard Group Inc. increased its stake in shares of Caribou Biosciences by 3.8% during 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 last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of 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 acquiring an additional 536,162 shares during the period. FMR LLC grew 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 valued at $3,100,000 after purchasing an additional 109,606 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Caribou Biosciences during the second quarter worth approximately $2,432,000. Hedge funds and other institutional investors own 77.51% of the company’s stock.

Caribou Biosciences Company Profile

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.