Truist Financial Trims CRISPR Therapeutics (NASDAQ:CRSP) Target Price to $100.00

CRISPR Therapeutics (NASDAQ:CRSP) had its price target cut by Truist Financial from $120.00 to $100.00 in a research report released on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently issued reports on the company. Citigroup cut their price target on CRISPR Therapeutics from $89.00 to $84.00 and set a buy rating for the company in a research note on Thursday, May 23rd. Robert W. Baird boosted their price target on CRISPR Therapeutics from $46.00 to $52.00 and gave the company a neutral rating in a research note on Thursday, May 9th. Piper Sandler reiterated an overweight rating and issued a $105.00 price target on shares of CRISPR Therapeutics in a research note on Monday, June 17th. Stifel Nicolaus cut their price target on CRISPR Therapeutics from $60.00 to $59.00 and set a hold rating for the company in a research note on Tuesday, August 6th. Finally, Cantor Fitzgerald reiterated a neutral rating on shares of CRISPR Therapeutics in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $75.63.

CRISPR Therapeutics Stock Down 3.8 %

Shares of NASDAQ:CRSP opened at $46.41 on Monday. 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 $3.94 billion, a PE ratio of -17.03 and a beta of 1.70. The business has a 50 day moving average of $56.18 and a 200-day moving average of $62.53.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Monday, August 5th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. During the same period in the previous year, the company posted ($0.98) EPS. The firm’s revenue for the quarter was down 99.3% on a year-over-year basis. Equities research analysts expect that CRISPR Therapeutics will post -5.52 earnings per share for the current year.

Insider Activity at CRISPR Therapeutics

In related news, COO Julianne Bruno sold 3,366 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $56.09, for a total value of $188,798.94. Following the completion of the sale, the chief operating officer now directly owns 6,745 shares in the company, valued at $378,327.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.10% of the stock is currently owned by company insiders.

Institutional Trading of CRISPR Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of CRSP. Raymond James & Associates increased its holdings in CRISPR Therapeutics by 11.3% in the fourth quarter. Raymond James & Associates now owns 31,839 shares of the company’s stock valued at $1,993,000 after purchasing an additional 3,231 shares during the period. Prime Capital Investment Advisors LLC bought a new stake in CRISPR Therapeutics during the fourth quarter valued at $206,000. Bourgeon Capital Management LLC boosted its position in CRISPR Therapeutics by 1,000.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 550 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares during the last quarter. Cookson Peirce & Co. Inc. bought a new stake in CRISPR Therapeutics during the fourth quarter valued at $389,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in CRISPR Therapeutics by 11.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,559 shares of the company’s stock valued at $1,287,000 after acquiring an additional 2,032 shares during the last quarter. 69.20% of the stock is currently owned by institutional investors and hedge funds.

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.