CRISPR Therapeutics (NASDAQ:CRSP) Price Target Cut to $82.00 by Analysts at Chardan Capital

CRISPR Therapeutics (NASDAQ:CRSP) had its price target lowered by investment analysts at Chardan Capital from $84.00 to $82.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Chardan Capital’s price objective points to a potential upside of 146.94% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus dropped their target price on shares of CRISPR Therapeutics from $53.00 to $49.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. Morgan Stanley boosted their target price on CRISPR Therapeutics from $30.00 to $32.00 and gave the stock an “underweight” rating in a research report on Friday, February 14th. Bank of America cut their price target on shares of CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. HC Wainwright restated a “buy” rating and set a $65.00 price objective on shares of CRISPR Therapeutics in a report on Thursday, February 13th. Finally, The Goldman Sachs Group reduced their price target on shares of CRISPR Therapeutics from $66.00 to $57.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $73.00.

CRISPR Therapeutics Stock Performance

NASDAQ CRSP opened at $33.21 on Wednesday. CRISPR Therapeutics has a 52 week low of $30.04 and a 52 week high of $67.88. The stock has a market capitalization of $2.87 billion, a P/E ratio of -7.60 and a beta of 1.88. The stock has a fifty day moving average of $38.62 and a 200-day moving average of $43.00.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its earnings results on Tuesday, May 6th. The company reported ($1.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.31). CRISPR Therapeutics had a negative net margin of 981.54% and a negative return on equity of 18.46%. During the same quarter in the prior year, the business posted ($1.43) earnings per share. The company’s revenue for the quarter was up 71.6% on a year-over-year basis. Equities research analysts forecast that CRISPR Therapeutics will post -5.16 earnings per share for the current fiscal year.

Insider Activity

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 18,360 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $55.20, for a total transaction of $1,013,472.00. Following the sale, the chief executive officer now directly owns 171,613 shares of the company’s stock, valued at $9,473,037.60. The trade was a 9.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Julianne Bruno sold 1,198 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $42.42, for a total value of $50,819.16. Following the completion of the transaction, the chief operating officer now owns 8,263 shares of the company’s stock, valued at $350,516.46. The trade was a 12.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,381 shares of company stock worth $1,608,243 over the last ninety days. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On CRISPR Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Intellectus Partners LLC lifted 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 acquiring an additional 250 shares during the last quarter. Farrow Financial Inc. raised its holdings in shares of 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 purchasing an additional 270 shares during the period. Kestra Private Wealth Services LLC lifted its stake in CRISPR Therapeutics by 1.5% in the 4th quarter. Kestra Private Wealth Services LLC now owns 20,636 shares of the company’s stock valued at $812,000 after purchasing an additional 310 shares during the last quarter. SFE Investment Counsel grew its holdings in CRISPR Therapeutics by 5.8% during the first quarter. SFE Investment Counsel now owns 6,507 shares of the company’s stock worth $221,000 after purchasing an additional 355 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in CRISPR Therapeutics by 7.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,252 shares of the company’s stock worth $215,000 after buying an additional 372 shares during the last quarter. Institutional investors own 69.20% of the company’s stock.

About CRISPR Therapeutics

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.