Caribou Biosciences, Inc. (NASDAQ:CRBU) Sees Significant Growth in Short Interest

Caribou Biosciences, Inc. (NASDAQ:CRBU) saw a significant growth in short interest in November. As of November 30th, there was short interest totalling 8,620,000 shares, a growth of 16.2% from the November 15th total of 7,420,000 shares. Currently, 10.9% of the shares of the company are short sold. Based on an average daily trading volume, of 1,280,000 shares, the short-interest ratio is currently 6.7 days.

Analysts Set New Price Targets

CRBU has been the subject of a number of recent analyst reports. Citigroup cut their price objective on shares of Caribou Biosciences from $30.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Caribou Biosciences in a research note on Friday, November 15th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $10.20.

Caribou Biosciences Stock Performance

Shares of CRBU stock traded down $0.02 on Monday, reaching $1.89. 752,481 shares of the company were exchanged, compared to its average volume of 1,696,935. The company has a market cap of $171.15 million, a price-to-earnings ratio of -1.16 and a beta of 2.27. The business has a 50-day moving average price of $2.09 and a 200 day moving average price of $2.04. Caribou Biosciences has a 1 year low of $1.50 and a 1 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, topping analysts’ consensus estimates of ($0.44) by $0.06. The firm had revenue of $2.02 million for the quarter, compared to analyst estimates of $3.37 million. Caribou Biosciences had a negative net margin of 1,290.81% and a negative return on equity of 45.46%. As a group, equities analysts anticipate that Caribou Biosciences will post -1.64 earnings per share for the current year.

Hedge Funds Weigh In On Caribou Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the business. Erste Asset Management GmbH acquired a new position in Caribou Biosciences during the third quarter worth about $28,000. AQR Capital Management LLC purchased a new stake in shares of Caribou Biosciences in the 2nd quarter valued at approximately $30,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Caribou Biosciences by 63.8% in the 3rd 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 period. Intech Investment Management LLC purchased a new stake in shares of Caribou Biosciences in the 3rd quarter valued at approximately $43,000. Finally, Point72 DIFC Ltd grew its stake in shares of Caribou Biosciences by 389.4% in the 2nd quarter. Point72 DIFC Ltd now owns 30,157 shares of the company’s stock valued at $49,000 after buying an additional 23,995 shares during the period. 77.51% of the stock is currently owned by institutional investors and hedge funds.

Caribou Biosciences Company 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.