Caribou Biosciences (CRBU) Stock News

RBC Capital reduced its price target on Caribou Biosciences to $1.00 per share, down from $10.00. The revision was reported via Benzinga.

Leerink Partners downgraded Caribou Biosciences (CRBU) to Market Perform from Outperform, setting a $1 price target. The previous rating was Outperform.

Leerink Partners lowered its price target on Caribou Biosciences (CRBU) to $1.00 from $4.00. No rating change was disclosed.

Caribou Biosciences (CRBU) is discontinuing two cancer programs, cutting most staff, and launching a strategic review that could lead to a merger or sale. Shares dropped 36% after hours.

Caribou Biosciences (CRBU) announced it is exploring strategic alternatives including a possible merger or sale, and will discontinue development of its two allogeneic CAR-T cell therapy programs, vispa-cel and CB-011. The company will implement workforce and cost reductions. It had $113.8 million in cash as of June 30, 2026. Wedbush Securities is financial advisor.

Caribou Biosciences plans to discontinue further development of its allogeneic CAR-T cell therapy programs, including vispa-cel and CB-011, citing a challenging financing environment.

The biotech company is considering a merger, acquisition, or other transaction. It previously discontinued its lead drug candidates and cut most of its workforce, with restructuring costs estimated at $15 million to $19 million. The CFO will step down once a deal is reached.