UPDATE: Citi Upgrades Caribou Biosciences Inc. (CRBU) to Buy

Citi analyst Yigal Nochomovitz upgraded Caribou Biosciences Inc. (NASDAQ: CRBU) from Neutral to Buy with a price target of $27.00.

The analyst comments "We are upgrading CRBU to Buy/High Risk and maintaining our $27 TP as we see an improved risk/reward profile at current levels. We further believe that Caribou’s chRDNA editing platform possesses several advantages that should limit read-through from the single instance of a chromosomal abnormality seen with ALLO-501A in early October that caused a sell-off in the allogeneic cell therapy names, including CRBU. As described in more detail below, we see several reasons why Caribou's editing platform has advantages which should limit off-target editing and minimize risk to genomic integrity. Note that the next catalyst for CRBU is initial Ph1 data for CB-010 (CD19 CAR-T) in R/R B-NHL next year."

For an analyst ratings summary and ratings history on Caribou Biosciences Inc. click here. For more ratings news on Caribou Biosciences Inc. click here.

Shares of Caribou Biosciences Inc. closed at $21.70 yesterday.

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