Citigroup Lowers CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $82.00

CRISPR Therapeutics (NASDAQ:CRSP) had its price objective reduced by Citigroup from $89.00 to $82.00 in a research report sent to investors on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the company. Needham & Company LLC reiterated a “buy” rating and issued a $84.00 price objective on shares of CRISPR Therapeutics in a research note on Wednesday, February 12th. JMP Securities reiterated a “market outperform” rating and issued a $86.00 target price on shares of CRISPR Therapeutics in a research note on Thursday, February 13th. Barclays upped their price target on shares of CRISPR Therapeutics from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Evercore ISI upgraded shares of CRISPR Therapeutics from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $60.00 to $99.00 in a research note on Friday, February 14th. Finally, StockNews.com upgraded CRISPR Therapeutics to a “sell” rating in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $74.40.

CRISPR Therapeutics Trading Down 4.8 %

CRSP opened at $50.46 on Tuesday. CRISPR Therapeutics has a 1-year low of $36.52 and a 1-year high of $91.10. The company has a market cap of $4.33 billion, a price-to-earnings ratio of -11.55 and a beta of 1.67. The company’s fifty day moving average price is $42.16 and its two-hundred day moving average price is $46.07.

CRISPR Therapeutics (NASDAQ:CRSP) last released its earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.15) by $0.71. CRISPR Therapeutics had a negative return on equity of 18.46% and a negative net margin of 981.54%. As a group, equities analysts forecast that CRISPR Therapeutics will post -5.03 earnings per share for the current fiscal year.

Insider Transactions at CRISPR Therapeutics

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 15,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $55.10, for a total transaction of $826,500.00. Following the sale, the chief executive officer now owns 181,540 shares in the company, valued at $10,002,854. This trade represents a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. ARK Investment Management LLC raised its holdings in shares of CRISPR Therapeutics by 19.7% during the 4th quarter. ARK Investment Management LLC now owns 8,973,064 shares of the company’s stock valued at $353,180,000 after buying an additional 1,474,439 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in CRISPR Therapeutics by 39.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,811,708 shares of the company’s stock valued at $150,029,000 after acquiring an additional 1,074,238 shares during the last quarter. Capital International Investors raised its stake in shares of CRISPR Therapeutics by 10.3% during the fourth quarter. Capital International Investors now owns 8,743,523 shares of the company’s stock worth $344,145,000 after acquiring an additional 816,789 shares in the last quarter. Baker BROS. Advisors LP lifted its holdings in shares of CRISPR Therapeutics by 743.1% in the 3rd quarter. Baker BROS. Advisors LP now owns 843,075 shares of the company’s stock worth $39,608,000 after acquiring an additional 743,075 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of CRISPR Therapeutics by 25.0% in the 3rd quarter. State Street Corp now owns 2,992,988 shares of the company’s stock valued at $140,611,000 after purchasing an additional 599,304 shares in the last quarter. 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.