Caribou Biosciences downgraded to In Line from Outperform at Evercore ISI

Evercore ISI analyst Liisa Bayko downgraded Caribou Biosciences to In Line from Outperform with a price target of $3, down from $13. At ASCO this weekend, Caribou presented details of the HLA subgroup analysis of the Phase 1 ANTLER study for its allogenic CD19 CAR-T, CB010, notes the analyst, who says Caribou “may have unlocked the key to allogenic CAR-T.” However, the firm is not yet convinced that it will be competitive and prefers to wait on the sidelines until data due in the first half of 2025 is reported, the analyst tells investors. ORR looks “strong,” but CR and PFS still fall behind autologous CAR-T, the analyst noted.