Caribou Biosciences, Inc. (NASDAQ:CRBU) Short Interest Up 13.6% in July

Caribou Biosciences, Inc. (NASDAQ:CRBU) saw a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 11,640,000 shares, an increase of 13.6% from the June 30th total of 10,250,000 shares. Based on an average daily trading volume, of 2,550,000 shares, the days-to-cover ratio is presently 4.6 days. Approximately 14.6% of the shares of the company are sold short.

Institutional Trading of Caribou Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. boosted its position in Caribou Biosciences by 352.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,226 shares of the company’s stock worth $59,000 after buying an additional 7,968 shares during the period. Entropy Technologies LP bought a new position in Caribou Biosciences during the 1st quarter worth $113,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Caribou Biosciences in the fourth quarter valued at about $150,000. Bayesian Capital Management LP acquired a new position in shares of Caribou Biosciences in the first quarter worth approximately $151,000. Finally, Walleye Trading LLC bought a new stake in Caribou Biosciences in the first quarter valued at approximately $155,000. 77.51% of the stock is currently owned by institutional investors.

Caribou Biosciences Stock Down 0.4 %

Shares of CRBU stock traded down $0.01 on Wednesday, reaching $2.29. The company had a trading volume of 471,708 shares, compared to its average volume of 2,021,731. The stock has a market capitalization of $206.83 million, a PE ratio of -1.57 and a beta of 2.29. The business’s 50-day moving average is $2.12 and its 200 day moving average is $4.20. Caribou Biosciences has a one year low of $1.50 and a one year high of $8.33.

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

Wall Street Analyst Weigh In

CRBU has been the topic of a number of research reports. Truist Financial reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Caribou Biosciences in a report on Thursday, May 16th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Caribou Biosciences in a report on Wednesday, July 17th. Finally, Evercore ISI lowered Caribou Biosciences from an “outperform” rating to an “inline” rating and reduced their target price for the stock from $13.00 to $3.00 in a report on Monday, June 3rd.

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 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.