CRISPR Therapeutics (NASDAQ:CRSP) Given New $53.00 Price Target at Royal Bank of Canada

CRISPR Therapeutics (NASDAQ:CRSP) had its price target trimmed by Royal Bank of Canada from $60.00 to $53.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a sector perform rating on the stock.

Several other analysts also recently commented on the stock. Cantor Fitzgerald reaffirmed a neutral rating on shares of CRISPR Therapeutics in a research report on Thursday, August 8th. StockNews.com raised CRISPR Therapeutics to a sell rating in a research report on Friday, August 16th. Piper Sandler reissued an overweight rating and issued a $105.00 price target on shares of CRISPR Therapeutics in a research report on Monday, June 17th. Rodman & Renshaw initiated coverage on shares of CRISPR Therapeutics in a report on Friday, August 2nd. They set a buy rating and a $90.00 price objective on the stock. Finally, Barclays reduced their price objective on shares of CRISPR Therapeutics from $67.00 to $59.00 and set an equal weight rating for the company in a report on Tuesday, August 6th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and an average target price of $75.19.

CRISPR Therapeutics Stock Up 0.3 %

Shares of CRSP opened at $45.49 on Friday. The business has a 50-day simple moving average of $47.91 and a two-hundred day simple moving average of $54.62. CRISPR Therapeutics has a 12-month low of $37.55 and a 12-month high of $91.10. The stock has a market cap of $3.86 billion, a PE ratio of -16.72 and a beta of 1.68.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly 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 firm had revenue of $0.52 million during the quarter, compared to the consensus estimate of $12.31 million. The company’s revenue for the quarter was down 99.3% on a year-over-year basis. During the same period last year, the firm posted ($0.98) earnings per share. On average, equities research analysts expect that CRISPR Therapeutics will post -5.6 EPS for the current year.

Hedge Funds Weigh In On CRISPR Therapeutics

Institutional investors have recently modified their holdings of the business. CIBC Private Wealth Group LLC bought a new position in CRISPR Therapeutics in the 4th quarter valued at $776,000. Oppenheimer & Co. Inc. grew its position in CRISPR Therapeutics by 20.2% during the fourth quarter. Oppenheimer & Co. Inc. now owns 26,435 shares of the company’s stock valued at $1,655,000 after buying an additional 4,437 shares during the period. 1832 Asset Management L.P. purchased a new stake in CRISPR Therapeutics during the fourth quarter worth about $1,127,000. Seven Eight Capital LP raised its position in CRISPR Therapeutics by 82.7% in the fourth quarter. Seven Eight Capital LP now owns 29,556 shares of the company’s stock worth $1,850,000 after acquiring an additional 13,377 shares during the period. Finally, Soviero Asset Management LP purchased a new position in CRISPR Therapeutics in the fourth quarter valued at about $2,754,000. 69.20% of the stock is owned by 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.