Caribou Biosciences (NASDAQ:CRBU) Given New $8.00 Price Target at Citigroup

Caribou Biosciences (NASDAQ:CRBU) had its price target boosted by equities research analysts at Citigroup from $5.00 to $8.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 176.34% from the stock’s current price.

Several other equities analysts have also recently weighed in on CRBU. Wall Street Zen raised shares of Caribou Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, August 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Caribou Biosciences in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Caribou Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.33.

Caribou Biosciences Stock Up 19.6%

CRBU traded up $0.48 during trading on Monday, hitting $2.90. The company had a trading volume of 55,509,737 shares, compared to its average volume of 1,506,888. The firm’s 50-day moving average price is $2.18 and its 200 day moving average price is $1.66. The company has a market capitalization of $269.58 million, a PE ratio of -1.64 and a beta of 2.59. Caribou Biosciences has a one year low of $0.66 and a one year high of $3.54.

Caribou Biosciences (NASDAQ:CRBU) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. The company had revenue of $2.67 million for the quarter, compared to analyst estimates of $1.64 million. Caribou Biosciences had a negative return on equity of 62.35% and a negative net margin of 1,800.93%. Sell-side analysts forecast that Caribou Biosciences will post -1.64 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CRBU. Nuveen LLC acquired a new position in shares of Caribou Biosciences in the first quarter valued at $302,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Caribou Biosciences by 19.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,442,121 shares of the company’s stock worth $1,317,000 after buying an additional 234,052 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in Caribou Biosciences in the 1st quarter valued at about $559,000. Aberdeen Group plc grew its stake in Caribou Biosciences by 118.3% in the 2nd quarter. Aberdeen Group plc now owns 897,579 shares of the company’s stock valued at $1,131,000 after buying an additional 486,435 shares during the last quarter. Finally, Pale Fire Capital SE raised its holdings in Caribou Biosciences by 7.2% in the 1st quarter. Pale Fire Capital SE now owns 786,722 shares of the company’s stock valued at $718,000 after acquiring an additional 52,518 shares during the period. 77.51% of the stock is currently owned by institutional investors.

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.