() experienced a significant increase in short interest throughout the month of march. On March 31, there were 5,220,000 short shares. This is a 10.8% increase from the total of 4,710,000 on March 15. The days-tocover ratio, based on an average trading volume 480,000 shares is 10.9 days. Short selling is currently 9.8% of shares.
Caribou Biosciences Stock Performance
Trading at midday on Friday saw the stock rise $0.15 to $4.47. Stock of the company traded 460,122 shares versus its average of 500,073. Caribou Biosciences's low for the past year was $4.12, and its high is $13.19. The company has a $274.01-million market capitalization, a PE of -2.73, and a beta value of 1.83. The company last announced its quarterly results on March 9th. The company posted ($0.44) per share in earnings for the third quarter, exceeding analysts' consensus estimates ($0.47) by $0.03. Caribou Biosciences reported a negative margin of 717.79%, and a return on equity of 30.41 %. The company had a revenue of $3.69m for the quarter compared to a consensus estimate of $3.7m. Analysts predict that Caribou Biosciences' current fiscal year will result in a -1.97 earnings per share.
Analysts set new price targets
Several analysts have made comments on the stock. HC Wainwright lowered their price target on shares of Caribou Biosciences to $26.00 from $27.00 in a research report on Tuesday, 14th March. They also set a buy' rating for this company. Royal Bank of Canada reiterated an 'outperform rating' and set a price target of $19.00 on Caribou Biosciences shares in a research report on Friday, 10th March. Oppenheimer lowered their Caribou Biosciences target price from $36.00 down to $32.00 in a Friday, 10th report. They also set an "outperform" rating for the stock. Bank of America, in a report published on Friday, 17th March, dropped the target price of Caribou Biosciences, from $27.00 down to $25.00.
Institutional Inflows & Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in CRBU. Elmwood Wealth Management Inc. bought a new position in shares of Caribou Biosciences during the third quarter valued at $24,943,000. Bank of America Corp DE raised its holdings in shares of Caribou Biosciences by 950.6% in the fourth quarter. Bank of America Corp DE now owns 1,843,902 shares of the company's stock valued at $11,580,000 after buying an additional 1,668,395 shares during the last quarter. State Street Corp raised its holdings in shares of Caribou Biosciences by 200.3% in the third quarter. State Street Corp now owns 2,395,470 shares of the company's stock valued at $25,272,000 after buying an additional 1,597,870 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Caribou Biosciences by 88.3% in the first quarter. BlackRock Inc. now owns 3,319,182 shares of the company's stock valued at $30,470,000 after buying an additional 1,556,153 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Caribou Biosciences by 118.9% in the first quarter. Vanguard Group Inc. now owns 2,001,554 shares of the company's stock valued at $18,375,000 after buying an additional 1,087,038 shares during the last quarter. 70.44% of the stock is owned by institutional investors.
Caribou Biosciences Company profile
Caribou Biosciences, Inc, is a biopharmaceutical clinical-stage company that develops genome-edited, allogeneic cells for the treatment of solid tumors and hematologic cancers. The company's leading product candidates include CB-010 - an anti-CD19 CAR T cell therapy in phase 1 clinical trials to treat B cell non Hodgkin lymphoma that has relapsed and refractory. CB-011 - an anti-BCMA CAR T cell therapy in phase 2 clinical trials for multiple myeloma.
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