CRISPR Therapeutics (NASDAQ:CRSP) Price Target Cut to $84.00

CRISPR Therapeutics (NASDAQ:CRSP) had its target price decreased by Citigroup from $89.00 to $84.00 in a report issued on Thursday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other research firms have also recently weighed in on CRSP. TheStreet upgraded shares of CRISPR Therapeutics from a d+ rating to a c rating in a research report on Friday, February 23rd. Oppenheimer dropped their target price on CRISPR Therapeutics from $102.00 to $95.00 and set an outperform rating for the company in a research report on Friday, May 10th. Mizuho raised their price target on CRISPR Therapeutics from $82.00 to $99.00 and gave the company a buy rating in a report on Wednesday, March 6th. JMP Securities reissued a market outperform rating and set a $86.00 price objective on shares of CRISPR Therapeutics in a report on Thursday, May 9th. Finally, Barclays cut their target price on shares of CRISPR Therapeutics from $80.00 to $67.00 and set an equal weight rating on the stock in a research report on Thursday, May 9th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $73.57.

CRISPR Therapeutics Stock Performance

Shares of CRSP stock opened at $55.24 on Thursday. CRISPR Therapeutics has a 52 week low of $37.55 and a 52 week high of $91.10. The stock has a market capitalization of $4.69 billion, a PE ratio of -20.31 and a beta of 1.80. The stock’s fifty day moving average is $60.23 and its 200-day moving average is $65.59.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.35) by ($0.08). The company had revenue of $0.50 million for the quarter, compared to analyst estimates of $25.53 million. The firm’s quarterly revenue was down 99.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.67) EPS. As a group, analysts forecast that CRISPR Therapeutics will post -5.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 9,802 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $78.26, for a total value of $767,104.52. Following the completion of the sale, the chief executive officer now directly owns 203,705 shares in the company, valued at $15,941,953.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 9,802 shares of CRISPR Therapeutics stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $78.26, for a total value of $767,104.52. Following the transaction, the chief executive officer now owns 203,705 shares of the company’s stock, valued at $15,941,953.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Raju Prasad sold 3,524 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $72.69, for a total transaction of $256,159.56. Following the sale, the chief financial officer now directly owns 6,476 shares of the company’s stock, valued at approximately $470,740.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,709 shares of company stock worth $3,865,228. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of CRISPR Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of CRSP. Capital International Investors grew 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 worth $534,175,000 after buying an additional 1,702,624 shares in the last quarter. ARK Investment Management LLC grew its stake in shares of CRISPR Therapeutics by 19.2% during the 4th quarter. ARK Investment Management LLC now owns 8,536,104 shares of the company’s stock worth $534,360,000 after acquiring an additional 1,372,986 shares in the last quarter. SR One Capital Management LP acquired a new stake in shares of CRISPR Therapeutics in the first quarter valued at approximately $71,496,000. Norges Bank acquired a new stake in shares of CRISPR Therapeutics in the fourth quarter valued at approximately $38,661,000. Finally, Avoro Capital Advisors LLC bought a new stake in shares of CRISPR Therapeutics in the first quarter worth $28,599,000. Institutional investors and hedge funds own 69.20% of the company’s stock.

CRISPR Therapeutics Company Profile

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.