Caribou Biosciences (NASDAQ:CRBU) Trading Down 0.6% – Time to Sell?

Caribou Biosciences, Inc. (NASDAQ:CRBU)’s share price dropped 0.6% during mid-day trading on Tuesday . The company traded as low as $1.73 and last traded at $1.76. Approximately 1,308,269 shares traded hands during trading, a decline of 46% from the average daily volume of 2,432,427 shares. The stock had previously closed at $1.77.

Analysts Set New Price Targets

Several research firms have commented on CRBU. HC Wainwright increased their price objective on shares of Caribou Biosciences from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Truist Financial upgraded shares of Caribou Biosciences to a “strong-buy” rating in a report on Wednesday, March 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Caribou Biosciences in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $8.67.

Caribou Biosciences Stock Performance

The stock has a market cap of $174.56 million, a PE ratio of -1.24 and a beta of 2.33. The stock has a fifty day moving average price of $1.97 and a 200 day moving average price of $1.82.

Caribou Biosciences (NASDAQ:CRBU) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.07. The company had revenue of $2.40 million for the quarter, compared to analyst estimates of $2.21 million. Caribou Biosciences had a negative return on equity of 84.17% and a negative net margin of 1,189.14%. As a group, equities analysts anticipate that Caribou Biosciences, Inc. will post -1.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Caribou Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in CRBU. CTC Alternative Strategies Ltd. purchased a new position in shares of Caribou Biosciences during the 1st quarter worth about $29,000. Bank of America Corp DE raised its position in Caribou Biosciences by 30.6% in the 1st quarter. Bank of America Corp DE now owns 1,297,167 shares of the company’s stock worth $2,465,000 after purchasing an additional 303,981 shares during the period. Renaissance Technologies LLC lifted its stake in Caribou Biosciences by 58.0% in the first quarter. Renaissance Technologies LLC now owns 2,590,497 shares of the company’s stock worth $4,922,000 after purchasing an additional 950,640 shares during the last quarter. Sei Investments Co. purchased a new position in shares of Caribou Biosciences during the first quarter valued at approximately $59,000. Finally, Westmount Partners LLC purchased a new position in shares of Caribou Biosciences during the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 77.51% of the company’s stock.

Caribou Biosciences Company Profile

Caribou Biosciences, Inc is a clinical-stage biopharmaceutical company that leverages its proprietary CRISPR-Cas gene-editing platform to develop transformative cell therapies and in vivo treatments for a range of cancers and genetic diseases. The company’s core technology enables precise modification of cellular genomes, allowing the design of engineered T-cell and NK-cell therapies aimed at improving safety, efficacy and persistence in patients with hematologic and solid tumor malignancies. Alongside its oncology portfolio, Caribou is advancing in vivo editing programs targeting monogenic disorders, with initiatives in areas such as Duchenne muscular dystrophy and familial amyloidosis.

Established in 2011 and headquartered in Berkeley, California, Caribou Biosciences was co-founded by Nobel laureate Jennifer Doudna, one of the pioneers of CRISPR gene-editing technology.