Bank of America Cuts Caribou Biosciences (NASDAQ:CRBU) Price Target to $11.00

Caribou Biosciences (NASDAQ:CRBU) had its price target decreased by Bank of America from $13.00 to $11.00 in a research note published on Tuesday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

CRBU has been the subject of a number of other reports. Citigroup reduced their target price on shares of Caribou Biosciences from $30.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Caribou Biosciences in a research note on Friday, November 15th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $10.33.

Caribou Biosciences Stock Down 0.5 %

NASDAQ:CRBU opened at $1.87 on Tuesday. The company has a market capitalization of $169.33 million, a PE ratio of -1.13 and a beta of 2.34. Caribou Biosciences has a 52-week low of $1.50 and a 52-week high of $8.33. The stock’s 50 day moving average price is $2.03 and its 200 day moving average price is $2.00.

Caribou Biosciences (NASDAQ:CRBU) last announced its earnings results on Wednesday, November 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.06. Caribou Biosciences had a negative net margin of 1,290.81% and a negative return on equity of 45.46%. The business had revenue of $2.02 million for the quarter, compared to analyst estimates of $3.37 million. As a group, sell-side analysts anticipate that Caribou Biosciences will post -1.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Caribou Biosciences

Large investors have recently modified their holdings of the business. Erste Asset Management GmbH acquired a new position in Caribou Biosciences during the third quarter worth $28,000. AQR Capital Management LLC purchased a new stake in shares of Caribou Biosciences during the 2nd quarter worth $30,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Caribou Biosciences by 63.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 17,380 shares of the company’s stock worth $34,000 after purchasing an additional 6,768 shares during the period. Intech Investment Management LLC purchased a new position in shares of Caribou Biosciences in the 3rd quarter valued at about $43,000. Finally, Point72 DIFC Ltd lifted its stake in shares of Caribou Biosciences by 389.4% in the second quarter. Point72 DIFC Ltd now owns 30,157 shares of the company’s stock valued at $49,000 after purchasing an additional 23,995 shares during the period. 77.51% of the stock is owned by hedge funds and other institutional investors.

About Caribou Biosciences

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.