Elmwood Wealth Management Inc. Has $428,000 Stock Position in Caribou Biosciences, Inc. (NASDAQ:CRBU)

Elmwood Wealth Management Inc. reduced its position in Caribou Biosciences, Inc. (NASDAQ:CRBU) by 76.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 468,240 shares of the company’s stock after selling 1,557,500 shares during the period. Elmwood Wealth Management Inc.’s holdings in Caribou Biosciences were worth $428,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Caribou Biosciences in the 1st quarter valued at approximately $559,000. Exchange Traded Concepts LLC raised its position in Caribou Biosciences by 51.4% during the first quarter. Exchange Traded Concepts LLC now owns 124,889 shares of the company’s stock valued at $114,000 after acquiring an additional 42,395 shares in the last quarter. Milestone Asset Management LLC lifted its stake in Caribou Biosciences by 100.9% in the first quarter. Milestone Asset Management LLC now owns 329,090 shares of the company’s stock valued at $300,000 after acquiring an additional 165,301 shares during the last quarter. Green Alpha Advisors LLC grew its position in Caribou Biosciences by 138.8% in the first quarter. Green Alpha Advisors LLC now owns 432,325 shares of the company’s stock worth $395,000 after acquiring an additional 251,271 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Caribou Biosciences in the fourth quarter worth approximately $222,000. 77.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CRBU shares. Wall Street Zen downgraded shares of Caribou Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. HC Wainwright restated a “buy” rating and set a $3.00 target price (down from $9.00) on shares of Caribou Biosciences in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.50.

Caribou Biosciences Trading Up 9.6%

Shares of Caribou Biosciences stock opened at $1.37 on Thursday. The firm has a fifty day simple moving average of $1.06 and a 200-day simple moving average of $1.20. The stock has a market capitalization of $127.41 million, a price-to-earnings ratio of -0.85 and a beta of 2.48. Caribou Biosciences, Inc. has a 1-year low of $0.66 and a 1-year high of $3.00.

Caribou Biosciences (NASDAQ:CRBU) last released its earnings results on Thursday, May 8th. The company reported ($0.43) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.43). The firm had revenue of $2.35 million during the quarter, compared to analyst estimates of $1.48 million. Caribou Biosciences had a negative net margin of 1,490.84% and a negative return on equity of 55.70%. As a group, research analysts predict that Caribou Biosciences, Inc. will post -1.64 earnings per share for the current year.

Caribou Biosciences 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.