Caribou Biosciences, Inc. (NASDAQ:CRBU) Short Interest Down 13.7% in March

by · The Cerbat Gem

Caribou Biosciences, Inc. (NASDAQ:CRBU – Get Free Report) was the recipient of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 8,820,000 shares, a decrease of 13.7% from the February 28th total of 10,220,000 shares. Approximately 10.9% of the shares of the company are sold short. Based on an average daily volume of 1,290,000 shares, the short-interest ratio is currently 6.8 days.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Caribou Biosciences in a research report on Wednesday, March 19th. Bank of America reduced their price objective on Caribou Biosciences from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Caribou Biosciences presently has an average rating of “Buy” and an average price target of $10.33.

Get Our Latest Stock Analysis on Caribou Biosciences

Caribou Biosciences Stock Performance

Shares of Caribou Biosciences stock opened at $0.79 on Friday. The company has a fifty day moving average of $1.18 and a 200 day moving average of $1.67. The company has a market capitalization of $73.01 million, a P/E ratio of -0.48 and a beta of 2.34. Caribou Biosciences has a fifty-two week low of $0.72 and a fifty-two week high of $4.85.

Caribou Biosciences (NASDAQ:CRBU – Get Free Report) last issued its earnings results on Monday, March 10th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.01. Caribou Biosciences had a negative return on equity of 45.46% and a negative net margin of 1,290.81%. The company had revenue of $2.08 million for the quarter, compared to the consensus estimate of $2.11 million. Analysts forecast that Caribou Biosciences will post -1.64 EPS for the current year.

Hedge Funds Weigh In On Caribou Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Centric Wealth Management bought a new position in shares of Caribou Biosciences during the 4th quarter valued at about $27,000. Erste Asset Management GmbH bought a new position in Caribou Biosciences during the third quarter valued at approximately $28,000. Russell Investments Group Ltd. grew its holdings in Caribou Biosciences by 859.0% during the 4th quarter. Russell Investments Group Ltd. now owns 23,909 shares of the company’s stock valued at $38,000 after buying an additional 21,416 shares in the last quarter. MetLife Investment Management LLC increased its stake in Caribou Biosciences by 60.0% in the 4th quarter. MetLife Investment Management LLC now owns 24,404 shares of the company’s stock worth $39,000 after acquiring an additional 9,148 shares during the last quarter. Finally, Diametric Capital LP purchased a new stake in shares of Caribou Biosciences during the 4th quarter worth approximately $42,000. Institutional investors own 77.51% of the company’s stock.

Caribou Biosciences Company Profile

(Get Free Report)

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.

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