Barclays Cuts CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $55.00

CRISPR Therapeutics (NASDAQ:CRSP) had its target price trimmed by Barclays from $59.00 to $55.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other brokerages have also recently issued reports on CRSP. Truist Financial cut their target price 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. StockNews.com upgraded CRISPR Therapeutics to a “sell” rating in a report on Tuesday, October 29th. Stifel Nicolaus lowered their price target on CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Needham & Company LLC reissued a “buy” rating and issued a $84.00 target price on shares of CRISPR Therapeutics in a research report on Wednesday. Finally, Royal Bank of Canada cut their target price on CRISPR Therapeutics from $60.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $74.94.

CRISPR Therapeutics Stock Performance

Shares of CRISPR Therapeutics stock traded down $0.26 during trading on Wednesday, reaching $51.62. 1,306,222 shares of the company’s stock were exchanged, compared to its average volume of 1,455,758. CRISPR Therapeutics has a 1-year low of $43.42 and a 1-year high of $91.10. The company has a market cap of $4.39 billion, a P/E ratio of -15.98 and a beta of 1.67. The firm’s 50-day moving average price is $47.45 and its 200 day moving average price is $52.21.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) EPS for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.41. The company had revenue of $0.60 million during the quarter, compared to the consensus estimate of $6.65 million. During the same quarter last year, the firm posted ($1.41) EPS. As a group, equities research analysts predict that CRISPR Therapeutics will post -5.57 EPS for the current year.

Insider Buying and Selling at CRISPR Therapeutics

In related news, General Counsel James R. Kasinger sold 1,089 shares of CRISPR Therapeutics stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $46.28, for a total value of $50,398.92. Following 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other CRISPR Therapeutics news, General Counsel James R. Kasinger sold 1,089 shares of CRISPR Therapeutics stock in a transaction that occurred on Monday, October 14th. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Samarth Kulkarni sold 4,293 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 transaction of $198,680.04. Following the transaction, the chief executive officer now directly owns 226,540 shares in the company, valued at $10,484,271.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital International Investors lifted its position 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 purchasing an additional 1,702,624 shares during the period. Vanguard Group Inc. increased its stake in CRISPR Therapeutics by 2.9% during 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 in the last quarter. SR One Capital Management LP bought a new stake in CRISPR Therapeutics during the 1st quarter worth approximately $71,496,000. Dimensional Fund Advisors LP boosted its position in CRISPR Therapeutics by 2.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 950,149 shares of the company’s stock worth $51,326,000 after acquiring an additional 19,094 shares during the last quarter. Finally, Farallon Capital Management LLC acquired a new position in CRISPR Therapeutics during the 2nd quarter worth approximately $28,625,000. Institutional investors and hedge funds own 69.20% of the company’s stock.

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.