Royal Bank of Canada Has Lowered Expectations for CRISPR Therapeutics (NASDAQ:CRSP) Stock Price

CRISPR Therapeutics (NASDAQ:CRSP) had its target price lowered by equities researchers at Royal Bank of Canada from $53.00 to $48.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 13.00% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Needham & Company LLC restated a “buy” rating and set a $84.00 price target on shares of CRISPR Therapeutics in a report on Wednesday. StockNews.com upgraded shares of CRISPR Therapeutics to a “sell” rating in a report on Monday, December 30th. TD Cowen raised CRISPR Therapeutics from a “sell” rating to a “hold” rating and set a $35.00 price target on the stock in a research note on Wednesday. Chardan Capital reiterated a “buy” rating and issued a $94.00 price objective on shares of CRISPR Therapeutics in a research note on Tuesday, December 10th. Finally, Barclays upped their price objective on shares of CRISPR Therapeutics from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $75.00.

CRISPR Therapeutics Stock Up 7.2 %

Shares of NASDAQ CRSP traded up $2.86 during midday trading on Wednesday, hitting $42.48. 2,226,140 shares of the company’s stock were exchanged, compared to its average volume of 1,941,534. CRISPR Therapeutics has a 12 month low of $36.52 and a 12 month high of $91.10. The company’s 50 day moving average price is $42.45 and its 200 day moving average price is $46.40. The firm has a market capitalization of $3.63 billion, a PE ratio of -15.00 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($1.15) by $0.71. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. On average, equities research analysts anticipate that CRISPR Therapeutics will post -5.08 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of CRISPR Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Highline Wealth Partners LLC purchased a new position in shares of CRISPR Therapeutics in the 4th quarter valued at $39,000. Western Pacific Wealth Management LP raised its holdings in CRISPR Therapeutics by 100.0% in the fourth quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock worth $39,000 after purchasing an additional 500 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of CRISPR Therapeutics in the 3rd quarter valued at about $40,000. Darwin Wealth Management LLC purchased a new stake in shares of CRISPR Therapeutics during the third quarter valued at $43,000. Finally, Eastern Bank purchased a new position in CRISPR Therapeutics in the 3rd quarter worth $70,000. Institutional investors 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.