CRISPR Therapeutics (NASDAQ:CRSP) PT Lowered to $59.00

CRISPR Therapeutics (NASDAQ:CRSP) had its target price trimmed by Stifel Nicolaus from $60.00 to $59.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a hold rating on the stock.

Other equities analysts have also issued reports about the company. Piper Sandler reiterated an overweight rating and issued a $105.00 target price on shares of CRISPR Therapeutics in a research note on Monday, June 17th. JMP Securities reissued a market outperform rating and issued a $86.00 target price on shares of CRISPR Therapeutics in a research report on Thursday, May 9th. Barclays dropped their price target on shares of CRISPR Therapeutics from $80.00 to $67.00 and set an equal weight rating for the company in a research report on Thursday, May 9th. Robert W. Baird lifted their price target on shares of CRISPR Therapeutics from $46.00 to $52.00 and gave the company a neutral rating in a report on Thursday, May 9th. Finally, Wells Fargo & Company dropped their price objective on CRISPR Therapeutics from $70.00 to $65.00 and set an equal weight rating for the company in a report on Thursday, May 9th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $74.00.

CRISPR Therapeutics Trading Down 1.8 %

Shares of NASDAQ CRSP traded down $0.85 during trading on Tuesday, reaching $47.01. The company had a trading volume of 998,709 shares, compared to its average volume of 1,596,176. The stock has a market capitalization of $3.99 billion, a PE ratio of -17.28 and a beta of 1.70. CRISPR Therapeutics has a twelve month low of $37.55 and a twelve month high of $91.10. The stock has a 50-day moving average price of $56.58 and a two-hundred day moving average price of $62.73.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its earnings results on Monday, August 5th. The company reported ($1.49) earnings per share for the quarter, missing the consensus estimate of ($1.43) by ($0.06). The company had revenue of $0.52 million for the quarter, compared to analysts’ expectations of $12.31 million. The company’s revenue was down 99.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.98) earnings per share. On average, sell-side analysts predict that CRISPR Therapeutics will post -5.52 EPS for the current year.

Insider Activity

In other news, COO Julianne Bruno sold 3,366 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $56.09, for a total transaction of $188,798.94. Following the completion of the sale, the chief operating officer now directly owns 6,745 shares in the company, valued at $378,327.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Capital International Investors boosted its stake in CRISPR Therapeutics by 27.8% during the 1st quarter. Capital International Investors now owns 7,837,074 shares of the company’s stock valued at $534,175,000 after acquiring an additional 1,702,624 shares during the last quarter. SR One Capital Management LP acquired a new stake in shares of CRISPR Therapeutics in the 1st quarter valued at about $71,496,000. Norges Bank bought a new position in shares of CRISPR Therapeutics during the fourth quarter worth about $38,661,000. Avoro Capital Advisors LLC acquired a new position in CRISPR Therapeutics in the first quarter worth about $28,599,000. Finally, Vestmark Advisory Solutions Inc. bought a new stake in CRISPR Therapeutics in the fourth quarter valued at about $10,848,000. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

About CRISPR Therapeutics

CRISPR Therapeutics is a gene-editing company focused on developing transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 platform. CRISPR/Cas9 is a revolutionary gene-editing technology that allows for precise, directed changes to genomic DNA. CRISPR Therapeutics has established a portfolio of therapeutic programs across a broad range of disease areas including hemoglobinopathies, oncology, regenerative medicine and rare diseases.