Royal Bank of Canada Cuts CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $48.00

CRISPR Therapeutics (NASDAQ:CRSP) had its target price lowered by Royal Bank of Canada from $53.00 to $48.00 in a report published on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other analysts also recently commented on CRSP. JMP Securities restated a “market outperform” rating and issued a $86.00 target price on shares of CRISPR Therapeutics in a research note on Friday, December 20th. Needham & Company LLC restated a “buy” rating and issued a $84.00 target price on shares of CRISPR Therapeutics in a research note on Wednesday. StockNews.com upgraded CRISPR Therapeutics to a “sell” rating in a research note on Monday, December 30th. HC Wainwright initiated coverage on CRISPR Therapeutics in a research note on Monday, February 3rd. They issued a “buy” rating and a $65.00 target price for the company. Finally, Bank of America reduced their target price on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, CRISPR Therapeutics has a consensus rating of “Hold” and an average target price of $74.50.

CRISPR Therapeutics Trading Up 14.3 %

Shares of CRISPR Therapeutics stock opened at $49.72 on Wednesday. The business has a 50-day moving average price of $41.89 and a two-hundred day moving average price of $46.17. 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 $4.26 billion, a P/E ratio of -17.57 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates 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%. Equities research analysts forecast that CRISPR Therapeutics will post -5.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 15,000 shares of CRISPR Therapeutics stock in a transaction that occurred 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 of the company’s stock, valued at $10,002,854. This trade represents a 7.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

Several hedge funds have recently modified their holdings of CRSP. Highline Wealth Partners LLC bought a new stake in shares of CRISPR Therapeutics in the 4th quarter worth approximately $39,000. Western Pacific Wealth Management LP raised its holdings in shares of CRISPR Therapeutics by 100.0% in the 4th 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 during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of CRISPR Therapeutics in the 3rd quarter worth approximately $40,000. Darwin Wealth Management LLC bought a new stake in shares of CRISPR Therapeutics in the 3rd quarter worth approximately $43,000. Finally, Eastern Bank bought a new stake in shares of CRISPR Therapeutics in the 3rd quarter worth approximately $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.