Royal Bank of Canada Trims CRISPR Therapeutics (NASDAQ:CRSP) Target Price to $53.00

CRISPR Therapeutics (NASDAQ:CRSP) had its price objective cut by equities research analysts at Royal Bank of Canada from $60.00 to $53.00 in a research note issued to investors on Friday, October 4th, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 8.38% from the company’s current price.

CRSP has been the topic of a number of other research reports. Guggenheim reissued a “neutral” rating on shares of CRISPR Therapeutics in a report on Friday, June 28th. Truist Financial lowered their price target on CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Stifel Nicolaus cut their price objective on CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. Rodman & Renshaw initiated coverage on 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 cut their target price on CRISPR Therapeutics from $67.00 to $59.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $75.19.

CRISPR Therapeutics Trading Up 1.8 %

Shares of CRSP traded up $0.85 during mid-day trading on Friday, reaching $48.90. 663,997 shares of the stock traded hands, compared to its average volume of 1,456,907. CRISPR Therapeutics has a 1 year low of $37.55 and a 1 year high of $91.10. The company has a market cap of $4.15 billion, a price-to-earnings ratio of -17.67 and a beta of 1.68. The firm has a fifty day moving average price of $47.11 and a 200 day moving average price of $53.62.

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 analysts’ consensus estimates of ($1.43) by ($0.06). The business had revenue of $0.52 million during the quarter, compared to analyst estimates of $12.31 million. The firm’s revenue was down 99.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.98) EPS. On average, sell-side analysts anticipate that CRISPR Therapeutics will post -5.6 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Samarth Kulkarni sold 4,293 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $46.28, for a total value of $198,680.04. Following the completion of the transaction, the chief executive officer now owns 226,540 shares in the company, valued at $10,484,271.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Samarth Kulkarni sold 4,293 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $46.28, for a total value of $198,680.04. Following the sale, the chief executive officer now directly owns 226,540 shares of the company’s stock, valued at $10,484,271.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel James R. Kasinger sold 1,089 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $46.28, for a total value of $50,398.92. Following the completion of the sale, the general counsel now directly owns 62,597 shares in the company, valued at $2,896,989.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

Institutional Trading of CRISPR Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Capital International Investors lifted its holdings in shares of CRISPR Therapeutics by 27.8% during the first quarter. Capital International Investors now owns 7,837,074 shares of the company’s stock valued at $534,175,000 after purchasing an additional 1,702,624 shares in the last quarter. Vanguard Group Inc. grew its position in CRISPR Therapeutics by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 1,636,799 shares of the company’s stock worth $111,564,000 after purchasing an additional 46,148 shares during the period. SR One Capital Management LP bought a new stake in shares of CRISPR Therapeutics in the first quarter worth $71,496,000. Dimensional Fund Advisors LP increased its position in CRISPR Therapeutics by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 950,149 shares of the company’s stock valued at $51,326,000 after acquiring an additional 19,094 shares during the last quarter. Finally, Farallon Capital Management LLC bought a new position in CRISPR Therapeutics in the second quarter valued at about $28,625,000. 69.20% of the stock is currently 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.