Caribou Biosciences (CRBU) AI Stock Analysis

• Market Cap: $190.38M
• Dividend Yield: N/A
• Average Volume (3M): 1.20M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.20
• Revenue Growth: -19.00%
• EPS Growth: -2.72%
• Country: US
• Employees: 147
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.28
• Shares Outstanding: 96,637,200
• 10 Day Avg. Volume: 1,354,975
• 30 Day Avg. Volume: 1,199,069
• PEG Ratio: 0.28
• Price to Book (P/B): 1.22
• Price to Sales (P/S): 13.31
• P/FCF Ratio: -1.32
• Enterprise Value/Market Cap: 1.08
• Enterprise Value/Revenue: 18.39
• Enterprise Value/Gross Profit: 20.85
• Enterprise Value/Ebitda: -1.57
• 1Y Price Target: $8.75
• Price Target Upside: 344.16% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): -1.34
• Revenue Forecast (FY): $21.44M

• Rating: 45 Neutral
• Price Target: $2.00 ▲(1.52% Upside)
• Action: Reiterated Date: 03/06/26
• Date: Action: Reiterated 03/06/26

The score is primarily constrained by weak financial performance, including a 2025 revenue collapse, persistent large losses, and significant ongoing cash burn with declining equity. Technical indicators are neutral-to-mixed and provide only limited support, while valuation is not compelling due to negative earnings and no dividend.

Positive Factors

Proprietary platform

Caribou’s proprietary chRDNA CRISPR platform is a durable competitive asset: it underpins multiple allogeneic CAR-T/CAR-NK programs, supports partner collaborations, and can enable scalable off-the-shelf cell therapies if clinical and manufacturing hurdles are cleared, sustaining strategic value over months.

Collaboration-driven revenue model

A business model centered on collaborations, licensing and grants provides recurring non‑dilutive and milestone-linked funding that buffers R&D spending while clinical programs advance. This structure reduces immediate reliance on product sales and supports development runway in the medium term.

Low financial leverage

Relatively low debt levels mean interest burden and covenant risk are limited, giving the company financial flexibility to finance trials or pursue partnerships. Manageable leverage improves resilience to operational setbacks and preserves options for strategic funding over the next several months.

Negative Factors

Revenue collapse

A precipitous drop to essentially zero revenue in 2025 signals a severe deterioration in partner payments or grant activity and removes near-term operating revenue support. This materially weakens visibility into sustainable cash inflows and strains the company’s ability to fund R&D without external financing.

Persistent cash burn

Consistent multi-year negative operating cash flow and deeply negative free cash flow (hundreds of millions) create ongoing financing pressure. Without a reliable revenue rebound or new partner funding, continued cash burn elevates dilution and liquidity risk and constrains strategic flexibility over months.

Equity erosion & losses

Large, sustained net losses that materially reduced shareholders’ equity indicate capital consumption and negative returns on invested capital. This trend highlights a weakened balance sheet that may force fundraising, dilution, or cost cuts and undermines long‑term resilience absent clinical progress or new funding.

Caribou Biosciences Business Overview & Revenue Model

Company Description

Caribou Biosciences, Inc., a clinical-stage biopharmaceutical company, engages in the development of genome-edited allogeneic cell therapies for the treatment of hematologic malignancies and solid tumors in the United States and internationally. Its lead product candidates are CB-010, an allogeneic anti-CD19 CAR-T cell therapy that is in phase 1 clinical trial to treat relapsed or refractory B cell non-Hodgkin lymphoma; and CB-011, an allogeneic anti-BCMA CAR-T cell therapy for the treatment of relapsed or refractory multiple myeloma. The company also develops CB-012, an allogeneic anti-CD371 CAR-T cell therapy for the treatment of relapsed or refractory acute myeloid leukemia; and CB-020, an allogeneic CAR-NK cell therapy for the treatment of solid tumors. It has collaboration with AbbVie Manufacturing Management Unlimited Company to develop CAR-T cell therapies. The company was incorporated in 2011 and is headquartered in Berkeley, California.

How the Company Makes Money

Caribou Biosciences primarily makes money through (1) collaboration and license revenue and (2) government/other grant revenue, with the potential for future product sales if its therapy candidates receive regulatory approval. 1) Collaboration and licensing agreements: As a clinical-stage company without widely marketed products, Caribou’s revenue has historically been driven largely by payments from strategic partnerships. These arrangements typically include upfront payments (paid when a collaboration starts), research funding and reimbursed costs (payments to support ongoing R&D work), and potential future milestone payments (triggered by development, regulatory, or commercial achievements) plus royalties on any partnered products that reach the market. If specific counterparties, payment sizes, or royalty rates are required: null. 2) Grants and other revenue: Caribou may also recognize revenue from grants or similar non-dilutive funding sources tied to specific research activities. If specific granting agencies or amounts are required: null. 3) Future commercial revenue (conditional): If Caribou obtains regulatory approval for any of its internal cell therapy programs, it could generate revenue from product sales to hospitals/clinics and potential reimbursement by payers. As of the latest publicly available context for a clinical-stage issuer, the extent and timing of any product-sales revenue is uncertain and dependent on clinical trial success, regulatory approvals, manufacturing scale-up, and commercialization strategy.

Caribou Biosciences Financial Statement Overview

Summary

Financial quality is weak: 2025 revenue fell to essentially zero after $10.0M in 2024, losses remain very large (2025 net loss ~$148.1M), and cash burn is heavy with deeply negative free cash flow (~-$112.4M in 2025). Low leverage offers some flexibility, but equity has eroded sharply (~$368.4M in 2023 to ~$122.2M in 2025).

Income Statement

Revenue has been volatile and recently deteriorated sharply—2025 annual revenue fell to essentially zero after $10.0M in 2024 and $34.5M in 2023 (with 2025 showing a -100% revenue growth rate). Profitability remains deeply negative across the period, with persistent large operating and net losses (2025 net loss of ~$148.1M; 2024 net loss of ~$149.1M). While gross margin was strong in 2021–2023 and positive in 2024, the current revenue collapse and continued heavy losses signal weak operating leverage and limited near-term earnings visibility.

Balance Sheet

Leverage appears manageable with relatively low debt versus equity in recent years (debt-to-equity ~0.07–0.22 from 2023–2025), which provides some financial flexibility. However, the equity base has declined materially (stockholders’ equity fell from ~$368.4M in 2023 to ~$122.2M in 2025) alongside ongoing losses, and returns on equity are strongly negative (2025 ROE ~-1.21). Overall, the balance sheet is not heavily levered, but it is weakening as losses consume capital.

Cash Flow

Cash burn is significant and persistent, with negative operating cash flow every year and worsening again in 2024–2025 (about -$138.2M in 2024 and -$111.0M in 2025). Free cash flow is also deeply negative (about -$144.7M in 2024 and -$112.4M in 2025), and 2025 free cash flow declined versus the prior year (free cash flow growth of about -12%). While free cash flow has been roughly in line with net loss (free cash flow to net income near ~1.0), the scale and durability of cash outflows elevate financing risk without a clearer path to revenue rebound.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	11.16M	9.99M	34.48M	13.85M	9.60M
Gross Profit	7.51M	6.07M	30.95M	10.21M	8.61M
EBITDA	-132.55M	-162.69M	-112.53M	-95.71M	-65.61M
Net Income	-148.13M	-149.10M	-102.07M	-99.42M	-66.92M
Balance Sheet
Total Assets	175.37M	313.31M	432.21M	373.76M	442.36M
Cash, Cash Equivalents and Short-Term Investments	139.34M	209.54M	328.83M	247.66M	375.83M
Total Debt	27.23M	26.49M	27.11M	27.75M	259.00K
Total Liabilities	53.19M	60.36M	63.81M	72.89M	54.53M
Stockholders Equity	122.17M	252.95M	368.40M	300.87M	387.82M
Cash Flow
Free Cash Flow	-112.35M	-144.71M	-104.90M	-97.42M	-35.64M
Operating Cash Flow	-110.99M	-138.20M	-93.29M	-90.97M	-32.52M
Investing Cash Flow	102.24M	86.61M	-68.18M	-93.25M	-176.40M
Financing Cash Flow	4.82M	16.72M	154.30M	2.13M	433.43M

Caribou Biosciences Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.97
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CRBU, the sentiment is Positive. The current price of 1.97 is above the 20-day moving average (MA) of 1.90, above the 50-day MA of 1.70, and above the 200-day MA of 1.84, indicating a bullish trend. The MACD of 0.07 indicates Positive momentum. The RSI at 57.05 is Neutral, neither overbought nor oversold. The STOCH value of 68.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CRBU.

Caribou Biosciences Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CLLS	54 Neutral	$248.42M	121.36	-31.79%	―	158.54%	66.90%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SGMO	51 Neutral	$126.74M	-1.47	-813.95%	―	-37.13%	40.47%
CABA	50 Neutral	$292.65M	-1.33	-107.14%	―	―	-17.21%
ELTX	50 Neutral	$220.38M	-3.08	-5657.87%	―	―	17.36%
VOR	50 Neutral	$546.82M	―	274.58%	―	―	-1072.48%
CRBU	45 Neutral	$190.38M	-1.00	-74.28%	―	-19.00%	-2.72%