Citigroup Has Lowered Expectations for Caribou Biosciences (NASDAQ:CRBU) Stock Price

Caribou Biosciences (NASDAQ:CRBU) had its price target decreased by Citigroup from $30.00 to $6.00 in a research note released on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on CRBU. Royal Bank of Canada restated an “outperform” rating and issued a $14.00 price target on shares of Caribou Biosciences in a research note on Wednesday, August 7th. HC Wainwright restated a “buy” rating and issued a $9.00 price target on shares of Caribou Biosciences in a research note on Friday, November 15th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $10.20.

Caribou Biosciences Price Performance

NASDAQ CRBU opened at $2.02 on Tuesday. The firm has a market cap of $182.91 million, a P/E ratio of -1.22 and a beta of 2.26. The stock’s 50-day moving average is $2.04 and its 200-day moving average is $2.15. Caribou Biosciences has a one year low of $1.50 and a one year high of $8.33.

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

Institutional Investors Weigh In On Caribou Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the company. Erste Asset Management GmbH bought a new stake in shares of Caribou Biosciences during the third 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 third quarter. China Universal Asset Management Co. Ltd. now owns 17,380 shares of the company’s stock valued at $34,000 after buying an additional 6,768 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Caribou Biosciences during the second quarter valued at approximately $30,000. Intech Investment Management LLC purchased a new position in shares of Caribou Biosciences during the third quarter valued at approximately $43,000. Finally, Bayesian Capital Management LP purchased a new position in shares of Caribou Biosciences during the first quarter valued at approximately $151,000. Institutional investors 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.