Caribou should be bought on ‘illogical weakness,’ says Citi

Citi did not expect the delay in the Phase 3 relapsed or refractory large B cell lymphoma trial start to generate a 30% selloff in the shares of Caribou Biosciences. The “market overreaction erroneously implies bears believe there’s a deeper problem with CB-010,” the analyst tells investors in a research note. Citi “strongly” disagrees and recommends buying Caribou on the “illogical weakness.” The firm expects the company and FDA to align on the full Phase 3 design in the coming quarters.