The Manufacturers Life Insurance Company Boosts Holdings in Caribou Biosciences, Inc. (NASDAQ:CRBU)

The Manufacturers Life Insurance Company increased its holdings in shares of Caribou Biosciences, Inc. (NASDAQ:CRBU) by 16.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,489 shares of the company’s stock after buying an additional 5,244 shares during the period. The Manufacturers Life Insurance Company’s holdings in Caribou Biosciences were worth $60,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CRBU. Allspring Global Investments Holdings LLC boosted its holdings in Caribou Biosciences by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 42,653 shares of the company’s stock valued at $219,000 after purchasing an additional 3,594 shares during the period. Acadian Asset Management LLC raised its position in Caribou Biosciences by 8.3% in the 1st quarter. Acadian Asset Management LLC now owns 156,238 shares of the company’s stock valued at $802,000 after purchasing an additional 11,921 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Caribou Biosciences by 15.2% in the 2nd quarter. American Century Companies Inc. now owns 125,029 shares of the company’s stock valued at $205,000 after buying an additional 16,530 shares during the period. AQR Capital Management LLC acquired a new position in shares of Caribou Biosciences during the second quarter worth about $30,000. Finally, Entropy Technologies LP purchased a new stake in shares of Caribou Biosciences during the first quarter worth approximately $113,000. 77.51% of the stock is owned by hedge funds and other institutional investors.

Caribou Biosciences Stock Down 1.5 %

CRBU stock opened at $1.97 on Tuesday. The stock has a market cap of $177.93 million, a price-to-earnings ratio of -1.36 and a beta of 2.27. Caribou Biosciences, Inc. has a fifty-two week low of $1.50 and a fifty-two week high of $8.33. The business has a 50 day moving average price of $1.99 and a 200 day moving average price of $2.46.

Caribou Biosciences (NASDAQ:CRBU) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.04. The business had revenue of $3.46 million during the quarter, compared to the consensus estimate of $3.31 million. Caribou Biosciences had a negative net margin of 372.78% and a negative return on equity of 34.76%. As a group, sell-side analysts anticipate that Caribou Biosciences, Inc. will post -1.76 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on CRBU shares. HC Wainwright reiterated a “buy” rating and set a $9.00 price target on shares of Caribou Biosciences in a report on Tuesday, September 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $14.00 target price on shares of Caribou Biosciences in a research note on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.25.

Caribou Biosciences Company Profile

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.