Bruce & Co. Inc. Raises Position in Caribou Biosciences, Inc. (NASDAQ:CRBU)

Bruce & Co. Inc. increased its holdings in shares of Caribou Biosciences, Inc. (NASDAQ:CRBU) by 50.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 300,000 shares of the company’s stock after buying an additional 100,000 shares during the quarter. Bruce & Co. Inc. owned 0.33% of Caribou Biosciences worth $492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Avidity Partners Management LP grew its stake in shares of Caribou Biosciences by 5.1% during the fourth quarter. Avidity Partners Management LP now owns 6,360,212 shares of the company’s stock worth $36,444,000 after acquiring an additional 310,000 shares during the last quarter. Vanguard Group Inc. grew its position in Caribou Biosciences by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 4,110,795 shares of the company’s stock worth $21,129,000 after purchasing an additional 148,751 shares during the last quarter. Milestone Asset Management LLC acquired a new position in Caribou Biosciences during the 2nd quarter valued at approximately $233,000. Westwood Holdings Group Inc. increased its stake in Caribou Biosciences by 81.9% during the 4th quarter. Westwood Holdings Group Inc. now owns 277,205 shares of the company’s stock valued at $1,588,000 after purchasing an additional 124,769 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Caribou Biosciences by 57.7% in the fourth quarter. Wellington Management Group LLP now owns 314,080 shares of the company’s stock worth $1,800,000 after buying an additional 114,975 shares during the last quarter. 77.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CRBU shares. HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Caribou Biosciences in a report on Tuesday, September 3rd. Evercore ISI lowered Caribou Biosciences from an “outperform” rating to an “inline” rating and cut their price objective for the company from $13.00 to $3.00 in a report on Monday, June 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $14.00 price objective on shares of Caribou Biosciences in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.25.

Caribou Biosciences Stock Performance

NASDAQ CRBU opened at $2.12 on Monday. The firm has a market capitalization of $191.47 million, a P/E ratio of -1.46 and a beta of 2.29. The stock has a 50-day simple moving average of $2.10 and a two-hundred day simple moving average of $3.19. Caribou Biosciences, Inc. has a fifty-two week low of $1.50 and a fifty-two week high of $8.33.

Caribou Biosciences (NASDAQ:CRBU) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.04. Caribou Biosciences had a negative return on equity of 34.76% and a negative net margin of 372.78%. The company had revenue of $3.46 million during the quarter, compared to analysts’ expectations of $3.31 million. As a group, analysts forecast that Caribou Biosciences, Inc. will post -1.76 earnings per share for the current year.

Caribou Biosciences Profile

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.