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

Caribou Biosciences (NASDAQ:CRBU) had its price objective dropped by research analysts at Citigroup from $30.00 to $6.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 172.73% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $14.00 target price on shares of Caribou Biosciences in a report on Wednesday, August 7th. HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Caribou Biosciences in a report on Friday, November 15th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $10.20.

Caribou Biosciences Price Performance

NASDAQ:CRBU opened at $2.20 on Tuesday. Caribou Biosciences has a 1-year low of $1.50 and a 1-year high of $8.33. The company has a 50-day moving average of $2.04 and a 200 day moving average of $2.14. The firm has a market cap of $199.21 million, a PE ratio of -1.33 and a beta of 2.26.

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

Hedge Funds Weigh In On Caribou Biosciences

Several hedge funds have recently modified their holdings of CRBU. Erste Asset Management GmbH acquired a new position in shares of Caribou Biosciences during the third quarter valued at about $28,000. AQR Capital Management LLC acquired a new position in shares of Caribou Biosciences during the second quarter valued at about $30,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Caribou Biosciences by 63.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 17,380 shares of the company’s stock valued at $34,000 after acquiring an additional 6,768 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Caribou Biosciences during the third quarter valued at about $43,000. Finally, Point72 DIFC Ltd increased its holdings in shares of Caribou Biosciences by 389.4% during the second quarter. Point72 DIFC Ltd now owns 30,157 shares of the company’s stock valued at $49,000 after acquiring an additional 23,995 shares in the last quarter. Institutional investors and hedge funds own 77.51% of the company’s stock.

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.