Caribou Biosciences (NASDAQ:CRBU) Announces Earnings Results

Caribou Biosciences (NASDAQ:CRBU) announced its quarterly earnings results on Thursday. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.07, FiscalAI reports. Caribou Biosciences had a negative return on equity of 78.10% and a negative net margin of 1,189.14%.The company had revenue of $2.40 million during the quarter, compared to the consensus estimate of $2.21 million.

Caribou Biosciences Stock Up 3.2%

Shares of Caribou Biosciences stock traded up $0.06 on Friday, reaching $1.94. The company’s stock had a trading volume of 891,799 shares, compared to its average volume of 1,534,205. The company has a market capitalization of $191.44 million, a P/E ratio of -1.37 and a beta of 2.27. Caribou Biosciences has a 52-week low of $0.75 and a 52-week high of $3.54. The stock has a 50-day moving average price of $1.96 and a 200-day moving average price of $1.87.

Institutional Trading of Caribou Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in CRBU. Creative Planning purchased a new stake in shares of Caribou Biosciences during the second quarter worth approximately $25,000. Hudson Bay Capital Management LP purchased a new stake in shares of Caribou Biosciences during the second quarter worth approximately $30,000. Russell Investments Group Ltd. increased its position in shares of Caribou Biosciences by 80.0% during the fourth quarter. Russell Investments Group Ltd. now owns 24,347 shares of the company’s stock worth $39,000 after purchasing an additional 10,824 shares in the last quarter. Invesco Ltd. increased its position in shares of Caribou Biosciences by 187.2% during the fourth quarter. Invesco Ltd. now owns 35,063 shares of the company’s stock worth $56,000 after purchasing an additional 22,856 shares in the last quarter. Finally, Man Group plc purchased a new stake in shares of Caribou Biosciences during the fourth quarter worth approximately $58,000. 77.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CRBU shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Caribou Biosciences in a report on Monday, April 20th. Truist Financial raised Caribou Biosciences to a “strong-buy” rating in a report on Wednesday, March 25th. Finally, HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Caribou Biosciences in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Caribou Biosciences has an average rating of “Moderate Buy” and a consensus target price of $8.00.

About Caribou Biosciences

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.