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Investing.com - H.C. Wainwright has reiterated a Buy rating on Caribou Biosciences Inc. (NASDAQ:CRBU) with a price target of $3.00 per share. The stock, currently trading at $1.93, has shown strong momentum with an 85% gain over the past six months. According to InvestingPro data, analyst targets range from $1 to $32, reflecting diverse views on this volatile biotech stock.
The firm highlighted upcoming catalysts for investors, including the presentation of additional data on partial HLA matching and CD19 relapsed patients from the ANTLER trial expected in the second half of 2025. While the company maintains a strong balance sheet with more cash than debt and a healthy current ratio of 6.66, InvestingPro analysis indicates rapid cash burn requires close monitoring.
H.C. Wainwright noted that data presented at ASCO 2024 showed patients who received CB-010 with four or more matching HLA alleles had a median progression-free survival (mPFS) of 14.4 months compared to 2.8 months in patients with three or fewer matches.
The research firm believes if the confirmatory cohort of 20 second-line LBCL patients treated with CB-010 with four or more matching HLA alleles demonstrates similar mPFS to Yescarta’s 14.7 months in the ZUMA-7 trial, CB-010’s allogeneic nature could provide a distinct advantage.
Another catalyst mentioned is the presentation of initial dose escalation results from the Phase 1 CaMMouflage trial evaluating CB-011 in relapsed/refractory multiple myeloma, also expected in the second half of 2025.
In other recent news, Caribou Biosciences has regained compliance with Nasdaq’s minimum bid price requirement. The company received confirmation from Nasdaq that it met the Listing Rule 5450(a)(1), which mandates a minimum closing bid price of $1.00 per share. This development follows an SEC filing that confirmed the company’s compliance. Additionally, Citi has reiterated its Buy rating on Caribou Biosciences, maintaining a price target of $6.00. This comes as the company approaches significant clinical data readouts for its CB-010 treatment in B-cell non-Hodgkin lymphoma and CB-011 in multiple myeloma, expected in the second half of 2025. Citi’s engagement included a virtual fireside chat with Caribou CEO Dr. Rachel Haurwitz, emphasizing the potential impact of these upcoming data releases. These developments highlight ongoing activities and expectations surrounding Caribou Biosciences in the market.
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