H.C. Wainwright analyst Robert Burns lowered the firm’s price target on Caribou Biosciences (CRBU) to $3 from $9 and keeps a Buy rating on the shares. Caribou announced a strategic pipeline prioritization with workforce and cost reduction initiatives to focus resources on its lead oncology clinical programs, the analyst tells investors in a research note. The firm says the reprioritization includes discontinuing the Phase 1 GALLOP trial, which was evaluating CB-010 in patients with lupus nephritis and extrarenal lupus, and the Phase 1 AMpLify trial, which was evaluating CB-012 in relapsed or refractory acute myeloid leukemia.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CRBU:
- Strategic Restructuring and Focus on Oncology Drive Buy Rating for Caribou Biosciences
- Caribou reduces workforce by 32%, discontinues GALLOP and AMpLify trials
- Analysts Remain Bullish on Caribou Biosciences (CRBU) Despite Ongoing Slump in its Shares
- Caribou Biosciences Advances CRISPR Therapies Amid Financial Challenges
- Caribou Biosciences reports Q4 EPS (39c), consensus (42c)
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue