Assenagon Asset Management S.A. Sells 2,231,947 Shares of Caribou Biosciences, Inc. (NASDAQ:CRBU)

Assenagon Asset Management S.A. trimmed its stake in shares of Caribou Biosciences, Inc. (NASDAQ:CRBU) by 98.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,592 shares of the company’s stock after selling 2,231,947 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Caribou Biosciences were worth $137,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Avidity Partners Management LP boosted its position in shares of Caribou Biosciences by 5.1% in the fourth quarter. Avidity Partners Management LP now owns 6,360,212 shares of the company’s stock valued at $36,444,000 after acquiring an additional 310,000 shares during the period. Vanguard Group Inc. boosted its position in shares of Caribou Biosciences by 49.3% in the third quarter. Vanguard Group Inc. now owns 3,822,151 shares of the company’s stock valued at $18,270,000 after acquiring an additional 1,261,920 shares during the period. Deerfield Management Company L.P. Series C bought a new stake in shares of Caribou Biosciences in the third quarter valued at about $16,730,000. Alkeon Capital Management LLC boosted its position in shares of Caribou Biosciences by 21.2% in the third quarter. Alkeon Capital Management LLC now owns 1,644,863 shares of the company’s stock valued at $7,862,000 after acquiring an additional 287,800 shares during the period. Finally, Kynam Capital Management LP bought a new stake in shares of Caribou Biosciences in the third quarter valued at about $5,108,000. 77.51% of the stock is owned by institutional investors.

Caribou Biosciences Stock Down 3.2 %

CRBU stock traded down $0.10 during midday trading on Thursday, reaching $3.01. The company had a trading volume of 2,723,945 shares, compared to its average volume of 1,749,347. The stock has a 50 day moving average price of $4.23 and a 200-day moving average price of $5.37. Caribou Biosciences, Inc. has a 1-year low of $2.97 and a 1-year high of $8.59.

Caribou Biosciences (NASDAQ:CRBU) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.07). The company had revenue of $2.43 million during the quarter, compared to analyst estimates of $3.00 million. Caribou Biosciences had a negative net margin of 345.05% and a negative return on equity of 33.42%. Sell-side analysts anticipate that Caribou Biosciences, Inc. will post -1.8 EPS for the current fiscal year.

Analysts Set New Price Targets

CRBU has been the subject of a number of recent research reports. Truist Financial reissued a “buy” rating and issued a $19.00 target price on shares of Caribou Biosciences in a research report on Thursday, May 16th. HC Wainwright reissued a “buy” rating and issued a $24.00 target price on shares of Caribou Biosciences in a research report on Monday, May 13th.

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.