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

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

Several other equities analysts also recently commented on CRBU. Citigroup lowered their price objective on Caribou Biosciences from $30.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Caribou Biosciences in a report on Friday, November 15th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $10.33.

Caribou Biosciences Trading Down 8.0 %

Caribou Biosciences stock opened at $1.72 on Tuesday. Caribou Biosciences has a 12-month low of $1.50 and a 12-month high of $8.33. The firm has a market capitalization of $155.75 million, a price-to-earnings ratio of -1.04 and a beta of 2.34. The firm has a 50 day moving average of $2.02 and a 200 day moving average of $2.00.

Caribou Biosciences (NASDAQ:CRBU) last announced its quarterly earnings data 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 firm had revenue of $2.02 million during the quarter, compared to analysts’ expectations of $3.37 million. On average, analysts predict that Caribou Biosciences will post -1.64 EPS for the current year.

Institutional Investors Weigh In On Caribou Biosciences

Several large investors have recently made changes to their positions in the company. Erste Asset Management GmbH purchased a new position in Caribou Biosciences during the 3rd quarter valued at approximately $28,000. China Universal Asset Management Co. Ltd. boosted its position 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 valued at $34,000 after acquiring an additional 6,768 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Caribou Biosciences in the second quarter valued at $30,000. Intech Investment Management LLC bought a new stake in Caribou Biosciences in the third quarter worth $43,000. Finally, Point72 DIFC Ltd raised its stake in 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 purchasing an additional 23,995 shares in the last quarter. 77.51% of the stock is 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.