Caribou Biosciences (NASDAQ:CRBU) Releases Earnings Results, Beats Estimates By $0.02 EPS

Caribou Biosciences (NASDAQ:CRBU) released its earnings results on Thursday. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.02, FiscalAI reports. Caribou Biosciences had a negative net margin of 1,030.42% and a negative return on equity of 89.11%. The firm had revenue of $1.61 million during the quarter, compared to the consensus estimate of $1.60 million.

Caribou Biosciences Stock Up 8.8%

NASDAQ:CRBU traded up $0.04 during mid-day trading on Friday, hitting $0.45. 1,699,805 shares of the stock traded hands, compared to its average volume of 6,005,073. The business’s 50-day moving average price is $0.95 and its 200 day moving average price is $1.60. The company has a market cap of $48.11 million, a PE ratio of -0.44 and a beta of 2.50. Caribou Biosciences has a 12-month low of $0.40 and a 12-month high of $2.49.

Wall Street Analyst Weigh In

A number of research firms recently commented on CRBU. Wall Street Zen cut shares of Caribou Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, September 19th. Royal Bank Of Canada lowered Caribou Biosciences from an “outperform” rating to a “sector perform” rating and set a $1.00 price objective for the company. in a report on Wednesday, October 7th. Bank of America reduced their price objective on Caribou Biosciences from $6.00 to $5.00 and set a “buy” rating for the company in a report on Friday, August 14th. HC Wainwright downgraded Caribou Biosciences from a “buy” rating to a “neutral” rating in a research report on Thursday, October 8th. Finally, Leerink Partners lowered Caribou Biosciences from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $4.00 to $1.00 in a research note on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Caribou Biosciences presently has a consensus rating of “Hold” and an average price target of $4.50.

About Caribou Biosciences

Caribou Biosciences, Inc is a clinical-stage biotechnology company developing genome-edited cell therapies for cancer and other serious diseases. The company uses CRISPR gene-editing technology to engineer allogeneic, or “off-the-shelf,” immune-cell therapies designed to target cancer cells while reducing limitations associated with individualized cell treatments.

Caribou’s research platform is based on CRISPR hybrid RNA-DNA guide technology, which is intended to support precise and efficient genome editing.