Caribou Biosciences, Inc. (NASDAQ:CRBU) Short Interest Update

Caribou Biosciences, Inc. (NASDAQ:CRBU) was the target of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 11,510,000 shares, a growth of 9.7% from the May 15th total of 10,490,000 shares. Approximately 14.4% of the company’s shares are short sold. Based on an average trading volume of 2,210,000 shares, the days-to-cover ratio is currently 5.2 days.

Caribou Biosciences Price Performance

Shares of NASDAQ CRBU opened at $1.64 on Wednesday. The company has a market cap of $148.12 million, a PE ratio of -1.14 and a beta of 2.43. Caribou Biosciences has a 1-year low of $1.64 and a 1-year high of $8.59. The stock has a fifty day moving average price of $3.25 and a 200 day moving average price of $5.03.

Caribou Biosciences (NASDAQ:CRBU) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.07). The company had revenue of $2.43 million during the quarter, compared to analysts’ expectations of $3.00 million. Caribou Biosciences had a negative net margin of 345.05% and a negative return on equity of 33.42%. Analysts anticipate that Caribou Biosciences will post -1.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Caribou Biosciences

A number of large investors have recently added to or reduced their stakes in the business. Barclays PLC boosted its holdings in shares of Caribou Biosciences by 1,296.0% in the 3rd quarter. Barclays PLC now owns 254,231 shares of the company’s stock valued at $1,215,000 after purchasing an additional 236,020 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Caribou Biosciences by 32.0% during the third quarter. State Board of Administration of Florida Retirement System now owns 21,320 shares of the company’s stock worth $102,000 after purchasing an additional 5,170 shares during the last quarter. Citigroup Inc. grew its position in shares of Caribou Biosciences by 739.3% during the 3rd quarter. Citigroup Inc. now owns 221,166 shares of the company’s stock valued at $1,057,000 after buying an additional 194,816 shares during the last quarter. Rafferty Asset Management LLC bought a new stake in shares of Caribou Biosciences in the 3rd quarter worth approximately $2,425,000. Finally, Silverarc Capital Management LLC acquired a new stake in shares of Caribou Biosciences in the 3rd quarter worth about $4,268,000. 77.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on CRBU. Evercore ISI cut Caribou Biosciences from an “outperform” rating to an “inline” rating and cut their target price for the stock from $13.00 to $3.00 in a research note on Monday, June 3rd. Truist Financial restated a “buy” rating and issued a $19.00 price target on shares of Caribou Biosciences in a research note on Thursday, May 16th. Finally, HC Wainwright reduced their price target on shares of Caribou Biosciences from $24.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, June 4th.

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.