Caribou Biosciences (NASDAQ:CRBU) Issues Earnings Results, Beats Expectations By $0.03 EPS

Caribou Biosciences (NASDAQ:CRBUGet Rating) posted its quarterly earnings data on Monday. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.03, MarketWatch Earnings reports.

CRBU stock traded up $1.47 during trading on Thursday, hitting $8.10. 5,515,790 shares of the company’s stock traded hands, compared to its average volume of 594,844. The business has a fifty day simple moving average of $8.52 and a two-hundred day simple moving average of $12.90. Caribou Biosciences has a 1 year low of $6.41 and a 1 year high of $32.65.

A number of analysts recently weighed in on CRBU shares. SVB Leerink reduced their price objective on shares of Caribou Biosciences from $32.00 to $29.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 22nd. Zacks Investment Research raised shares of Caribou Biosciences from a “sell” rating to a “hold” rating in a research report on Wednesday, January 12th. Royal Bank of Canada started coverage on shares of Caribou Biosciences in a research report on Thursday, February 17th. They set an “outperform” rating and a $22.00 target price on the stock. Brookline Capital Management reaffirmed a “buy” rating on shares of Caribou Biosciences in a research report on Monday, February 14th. Finally, Brookline Capital Acquisition started coverage on shares of Caribou Biosciences in a research report on Monday, February 14th. They set a “buy” rating and a $19.00 target price on the stock. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $27.29.

A number of hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its holdings in Caribou Biosciences by 12.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 10,912 shares of the company’s stock valued at $165,000 after buying an additional 1,165 shares during the period. Deutsche Bank AG boosted its stake in Caribou Biosciences by 11.1% in the fourth quarter. Deutsche Bank AG now owns 13,014 shares of the company’s stock valued at $196,000 after acquiring an additional 1,296 shares in the last quarter. Rhumbline Advisers boosted its stake in Caribou Biosciences by 12.1% in the fourth quarter. Rhumbline Advisers now owns 19,725 shares of the company’s stock valued at $298,000 after acquiring an additional 2,126 shares in the last quarter. Royal Bank of Canada acquired a new stake in Caribou Biosciences in the third quarter valued at approximately $66,000. Finally, ProShare Advisors LLC boosted its stake in Caribou Biosciences by 22.1% in the first quarter. ProShare Advisors LLC now owns 15,766 shares of the company’s stock valued at $145,000 after acquiring an additional 2,856 shares in the last quarter. 62.86% of the stock is currently owned by institutional investors.

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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