Citigroup Cuts Caribou Biosciences (NASDAQ:CRBU) Price Target to $6.00

Caribou Biosciences (NASDAQ:CRBU) had its target price cut by Citigroup from $30.00 to $6.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently issued reports on CRBU. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Caribou Biosciences in a research note on Friday, November 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $14.00 target price on shares of Caribou Biosciences in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $10.20.

Caribou Biosciences Price Performance

NASDAQ:CRBU opened at $2.20 on Tuesday. The business’s 50-day simple moving average is $2.04 and its 200-day simple moving average is $2.14. Caribou Biosciences has a fifty-two week low of $1.50 and a fifty-two week high of $8.33. The stock has a market capitalization of $199.22 million, a PE ratio of -1.33 and a beta of 2.26.

Caribou Biosciences (NASDAQ:CRBU) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $2.02 million during the quarter, compared to analysts’ expectations of $3.37 million. On average, research analysts expect that Caribou Biosciences will post -1.64 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CRBU. Renaissance Technologies LLC acquired a new stake in shares of Caribou Biosciences in the 2nd quarter valued at approximately $2,432,000. Dimensional Fund Advisors LP lifted its stake in Caribou Biosciences by 25.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,623,283 shares of the company’s stock valued at $4,302,000 after acquiring an additional 536,162 shares during the last quarter. PFM Health Sciences LP lifted its stake in Caribou Biosciences by 5.5% in the third quarter. PFM Health Sciences LP now owns 4,306,671 shares of the company’s stock valued at $8,441,000 after acquiring an additional 223,299 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Caribou Biosciences in the 2nd quarter valued at about $341,000. Finally, Vanguard Group Inc. increased its stake in shares of Caribou Biosciences by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 4,110,795 shares of the company’s stock worth $21,129,000 after purchasing an additional 148,751 shares during the last quarter. 77.51% of the stock is currently owned by 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.