CRISPR Therapeutics (NASDAQ:CRSP) Price Target Cut to $48.00 by Analysts at Royal Bank of Canada

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

A number of other brokerages also recently issued reports on CRSP. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 price target on shares of CRISPR Therapeutics in a report on Wednesday. HC Wainwright began coverage on CRISPR Therapeutics in a report on Monday, February 3rd. They issued a “buy” rating and a $65.00 price target for the company. StockNews.com raised shares of CRISPR Therapeutics to a “sell” rating in a report on Monday, December 30th. TD Cowen raised shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating and set a $35.00 target price on the stock in a research report on Wednesday. Finally, Chardan Capital reissued a “buy” rating and issued a $94.00 price target on shares of CRISPR Therapeutics in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $76.11.

CRISPR Therapeutics Trading Up 9.3 %

CRISPR Therapeutics stock opened at $43.30 on Wednesday. The firm has a 50 day moving average price of $42.06 and a 200 day moving average price of $46.25. CRISPR Therapeutics has a fifty-two week low of $36.52 and a fifty-two week high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($1.15) by $0.71. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. As a group, equities research analysts anticipate that CRISPR Therapeutics will post -5.08 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 CRISPR Therapeutics stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $55.10, for a total transaction of $826,500.00. Following the completion of the transaction, the chief executive officer now owns 181,540 shares in the company, valued at approximately $10,002,854. The trade was a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Boston Family Office LLC raised its holdings in shares of CRISPR Therapeutics by 2.2% in the third quarter. Boston Family Office LLC now owns 9,763 shares of the company’s stock worth $459,000 after acquiring an additional 213 shares during the last quarter. Bedell Frazier Investment Counselling LLC lifted its stake in shares of CRISPR Therapeutics by 0.8% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 26,357 shares of the company’s stock worth $1,238,000 after purchasing an additional 218 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of CRISPR Therapeutics by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 12,477 shares of the company’s stock worth $586,000 after purchasing an additional 231 shares during the last quarter. Intellectus Partners LLC increased its stake in CRISPR Therapeutics by 3.6% in the fourth quarter. Intellectus Partners LLC now owns 7,131 shares of the company’s stock valued at $281,000 after purchasing an additional 250 shares during the last quarter. Finally, Farrow Financial Inc. grew its holdings in CRISPR Therapeutics by 1.4% in the 4th quarter. Farrow Financial Inc. now owns 20,097 shares of the company’s stock valued at $777,000 after buying an additional 270 shares during the period. 69.20% of the stock is owned by hedge funds and other institutional investors.

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.