10 Most Promising Gene Editing Stocks to Buy According to Hedge Funds

7. Caribou Biosciences Inc. (NASDAQ:CRBU)

Number of Hedge Fund Holders: 21

Average Upside: 350%

Caribou Biosciences, Inc. (NASDAQ:CRBU) is a biotechnology company leading the way in developing cutting-edge therapies using its proprietary HLA-matching strategy. The company’s research focuses on several key areas, including Non-Hodgkin Lymphoma (NHL), multiple myeloma (MM), acute myeloid leukemia (AML), and autoimmune diseases like lupus nephritis. Moreover, the company has developed its proprietary chRDNA genome-editing technology, which Caribou Biosciences, Inc. (NASDAQ:CRBU) claims enhances CRISPR technology by enabling more precise genome edits.

Early in September, H.C. Wainwright reaffirmed its positive outlook on Caribou Biosciences, Inc. (NASDAQ:CRBU), maintaining a Buy rating with a $9 price target. This support followed the announcement that the U.S. Food and Drug Administration (FDA) granted Fast Track designations for two of the company’s therapies. CB-010 is designed to treat refractory systemic lupus erythematosus (SLE), while CB-012 targets relapsed or refractory acute myeloid leukemia (r/r AML), both addressing significant unmet medical needs.

Additionally, Caribou Biosciences (NASDAQ:CRBU) reported a second-quarter EPS of $-0.42, beating the analyst estimate of $-0.46 by $0.04, while its revenue for the quarter totaled $3.46 million, surpassing the consensus estimate of $3.05 million.

As of the second quarter, 21 hedge funds held positions in Caribou Biosciences, Inc. (NASDAQ:CRBU), with a total stake value of $24.6 million.