Caribou Biosciences, Inc. (NASDAQ:CRBU – Get Rating)’s share price traded down 6.7% during mid-day trading on Thursday . The company traded as low as $10.21 and last traded at $10.24. 13,692 shares were traded during trading, a decline of 99% from the average session volume of 923,104 shares. The stock had previously closed at $10.97.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the company. Citigroup cut their target price on Caribou Biosciences from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, August 29th. HC Wainwright dropped their price target on Caribou Biosciences from $28.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, August 18th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Caribou Biosciences presently has an average rating of “Buy” and an average target price of $29.33.
Caribou Biosciences Stock Down 6.9 %
The stock has a market capitalization of $621.18 million, a price-to-earnings ratio of -6.73 and a beta of 2.82. The firm has a 50-day moving average of $9.66 and a two-hundred day moving average of $8.49.
Insiders Place Their Bets
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Caribou Biosciences by 88.3% during the 1st quarter. BlackRock Inc. now owns 3,319,182 shares of the company’s stock worth $30,470,000 after acquiring an additional 1,556,153 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Caribou Biosciences by 118.9% during the 1st quarter. Vanguard Group Inc. now owns 2,001,554 shares of the company’s stock worth $18,375,000 after acquiring an additional 1,087,038 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Caribou Biosciences during the 2nd quarter worth about $6,027,000. State Street Corp boosted its stake in shares of Caribou Biosciences by 7.3% during the 2nd quarter. State Street Corp now owns 797,600 shares of the company’s stock worth $4,331,000 after acquiring an additional 54,578 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Caribou Biosciences by 2,754.9% during the 1st quarter. JPMorgan Chase & Co. now owns 515,758 shares of the company’s stock worth $4,735,000 after acquiring an additional 497,692 shares in the last quarter. 64.73% of the stock is owned by institutional investors and hedge funds.
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 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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