Caribou Biosciences (NASDAQ:CRBU) Given New $39.00 Price Target at Citigroup

Caribou Biosciences (NASDAQ:CRBUGet Rating) had its target price raised by research analysts at Citigroup from $29.00 to $39.00 in a report issued on Thursday, The Fly reports. Citigroup’s price target suggests a potential upside of 381.48% from the stock’s current price.

A number of other equities research analysts have also commented on the company. Zacks Investment Research upgraded Caribou Biosciences from a “sell” rating to a “hold” rating in a research report on Wednesday, January 12th. Royal Bank of Canada began coverage on Caribou Biosciences in a research report on Thursday, February 17th. They set an “outperform” rating and a $22.00 price objective for the company. Brookline Capital Management restated a “buy” rating on shares of Caribou Biosciences in a research report on Monday, February 14th. SVB Leerink raised their price objective on Caribou Biosciences from $30.00 to $34.00 in a research report on Thursday. Finally, Brookline Capital Acquisition began coverage on Caribou Biosciences in a research report on Monday, February 14th. They set a “buy” rating and a $19.00 price objective for the company. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Caribou Biosciences has a consensus rating of “Buy” and an average target price of $29.71.

CRBU traded up $1.47 during trading on Thursday, reaching $8.10. The company had a trading volume of 5,508,540 shares, compared to its average volume of 594,844. The firm’s 50-day simple moving average is $8.52 and its 200 day simple moving average is $12.90. Caribou Biosciences has a 12-month low of $6.41 and a 12-month high of $32.65.

Caribou Biosciences (NASDAQ:CRBUGet Rating) last issued its quarterly earnings results on Monday, May 9th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.03. On average, research analysts predict that Caribou Biosciences will post -1.53 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of CRBU. Citigroup Inc. bought a new stake in Caribou Biosciences in the third quarter valued at about $53,000. Royal Bank of Canada acquired a new position in Caribou Biosciences during the third quarter valued at approximately $66,000. Legal & General Group Plc boosted its position in Caribou Biosciences by 353.4% during the fourth quarter. Legal & General Group Plc now owns 8,153 shares of the company’s stock valued at $123,000 after purchasing an additional 6,355 shares during the last quarter. Metropolitan Life Insurance Co NY acquired a new stake in shares of Caribou Biosciences in the third quarter valued at approximately $136,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Caribou Biosciences by 12.4% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,652 shares of the company’s stock valued at $144,000 after buying an additional 1,730 shares during the last quarter. 62.86% of the stock is currently owned by institutional investors and hedge funds.

About Caribou Biosciences (Get Rating)

Caribou Biosciences, Inc, a clinical-stage biopharmaceutical company, engages in the development of genome-edited allogeneic cell therapies for the treatment of hematologic malignancies and solid tumors in the United States and internationally. Its lead product candidates are 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; and CB-011, an allogeneic anti-BCMA CAR-T cell therapy for the treatment of relapsed or refractory multiple myeloma.

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