Caribou Biosciences, Inc. (CRBU) Surges 45.6%: Is This an Indication of Further Gains?
Caribou Biosciences, Inc. CRBU shares ended the last trading session 45.6% higher at $5.94. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 14.6% loss over the past four weeks.
Caribou Biosciences has gained substantial momentum in advancing its innovative clinical programs through a $25 million equity investment from Pfizer. The investment signifies a strategic partnership, highlighting the potential of Caribou's clinical initiatives. This infusion will let CRBU to retain complete ownership and control over its allogeneic CAR-T and CAR-NK cell therapy pipeline, positioning the company to seize future revenue prospects and sustain its leading position in genome-editing industry.
This company is expected to post quarterly loss of $0.49 per share in its upcoming report, which represents a year-over-year change of -6.5%. Revenues are expected to be $3.38 million, down 19.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Caribou Biosciences, Inc., the consensus EPS estimate for the quarter has been revised 3.9% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on CRBU going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Caribou Biosciences, Inc. is part of the Zacks Medical - Biomedical and Genetics industry. Zymeworks Inc. ZYME, another stock in the same industry, closed the last trading session 4.6% lower at $8.18. ZYME has returned -3.6% in the past month.
For Zymeworks Inc. , the consensus EPS estimate for the upcoming report has changed +15.9% over the past month to -$0.51. This represents a change of +47.4% from what the company reported a year ago. Zymeworks Inc. currently has a Zacks Rank of #3 (Hold).
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