Insider Selling: Caribou Biosciences (NASDAQ:CRBU) Insider Sells 6,938 Shares of Stock

Caribou Biosciences, Inc. (NASDAQ:CRBU) insider Barbara Mcclung sold 6,938 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $1.96, for a total value of $13,598.48. Following the transaction, the insider directly owned 481,564 shares in the company, valued at $943,865.44. This trade represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Caribou Biosciences Trading Up 11.5%

NASDAQ CRBU traded up $0.22 during mid-day trading on Tuesday, reaching $2.14. 4,611,005 shares of the company’s stock traded hands, compared to its average volume of 1,124,577. Caribou Biosciences, Inc. has a 1-year low of $0.66 and a 1-year high of $3.54. The company has a fifty day simple moving average of $1.61 and a 200-day simple moving average of $1.90. The company has a market cap of $200.03 million, a price-to-earnings ratio of -1.26 and a beta of 2.61.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. HC Wainwright boosted their target price on shares of Caribou Biosciences from $3.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Citigroup lifted their price target on Caribou Biosciences from $5.00 to $8.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Caribou Biosciences in a report on Wednesday, January 21st. Finally, Truist Financial set a $7.00 target price on Caribou Biosciences in a research report on Tuesday, November 4th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.00.

Institutional Investors Weigh In On Caribou Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of CRBU. Vanguard Group Inc. boosted its stake in Caribou Biosciences by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,226,926 shares of the company’s stock worth $9,849,000 after purchasing an additional 137,060 shares during the period. Millennium Management LLC lifted its holdings in shares of Caribou Biosciences by 107.4% in the third quarter. Millennium Management LLC now owns 3,216,535 shares of the company’s stock valued at $7,495,000 after purchasing an additional 1,665,946 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Caribou Biosciences by 110.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,639,857 shares of the company’s stock worth $2,607,000 after buying an additional 859,436 shares during the period. Aberdeen Group plc boosted its position in shares of Caribou Biosciences by 54.7% in the third quarter. Aberdeen Group plc now owns 1,388,905 shares of the company’s stock worth $3,236,000 after buying an additional 491,326 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of Caribou Biosciences by 32.8% during the third quarter. Bank of America Corp DE now owns 1,074,442 shares of the company’s stock valued at $2,503,000 after buying an additional 265,542 shares in the last quarter. 77.51% of the stock is owned by institutional investors and hedge funds.

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.