Barclays Lowers CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $42.00

CRISPR Therapeutics (NASDAQ:CRSP) had its target price cut by Barclays from $56.00 to $42.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential upside of 17.91% from the stock’s previous close.

A number of other analysts also recently weighed in on CRSP. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of CRISPR Therapeutics in a research report on Wednesday, February 19th. Morgan Stanley raised their target price on shares of CRISPR Therapeutics from $30.00 to $32.00 and gave the company an “underweight” rating in a research note on Friday, February 14th. Truist Financial boosted their price target on CRISPR Therapeutics from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Royal Bank of Canada cut their price target on CRISPR Therapeutics from $53.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 12th. Finally, JMP Securities reissued a “market outperform” rating and issued a $86.00 target price on shares of CRISPR Therapeutics in a report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $71.75.

CRISPR Therapeutics Price Performance

Shares of CRSP opened at $35.62 on Friday. The company has a 50-day simple moving average of $38.15 and a two-hundred day simple moving average of $42.75. The firm has a market capitalization of $3.08 billion, a PE ratio of -8.15 and a beta of 1.88. CRISPR Therapeutics has a one year low of $30.04 and a one year high of $67.88.

CRISPR Therapeutics (NASDAQ:CRSP) last announced 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 return on equity of 18.46% and a negative net margin of 981.54%. During the same period in the prior year, the business posted ($1.43) earnings per share. The business’s quarterly revenue was up 71.6% on a year-over-year basis. Analysts expect that CRISPR Therapeutics will post -5.16 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Samarth Kulkarni sold 18,360 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $55.20, for a total value of $1,013,472.00. Following the transaction, the chief executive officer now directly owns 171,613 shares in the company, valued at $9,473,037.60. This trade represents a 9.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John Greene acquired 7,000 shares of CRISPR Therapeutics stock in a transaction that occurred on Wednesday, February 26th. The shares were purchased at an average price of $44.85 per share, with a total value of $313,950.00. Following the transaction, the director now owns 7,000 shares of the company’s stock, valued at $313,950. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 32,381 shares of company stock worth $1,608,243. 4.30% of the stock is owned by insiders.

Institutional Trading of CRISPR Therapeutics

Several large investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC grew its position in shares of CRISPR Therapeutics by 13.3% during the 1st quarter. ARK Investment Management LLC now owns 10,165,400 shares of the company’s stock valued at $345,929,000 after acquiring an additional 1,192,336 shares during the period. Capital International Investors grew its holdings in CRISPR Therapeutics by 10.3% during the fourth quarter. Capital International Investors now owns 8,743,523 shares of the company’s stock valued at $344,145,000 after purchasing an additional 816,789 shares during the period. T. Rowe Price Investment Management Inc. increased its position in CRISPR Therapeutics by 39.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,811,708 shares of the company’s stock worth $150,029,000 after buying an additional 1,074,238 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of CRISPR Therapeutics by 1.9% in the first quarter. Vanguard Group Inc. now owns 1,769,709 shares of the company’s stock worth $60,223,000 after buying an additional 33,711 shares during the period. Finally, Baker BROS. Advisors LP raised its stake in shares of CRISPR Therapeutics by 55.1% in the fourth quarter. Baker BROS. Advisors LP now owns 1,308,011 shares of the company’s stock worth $51,483,000 after buying an additional 464,936 shares during the period. 69.20% of the stock is currently owned by institutional investors.

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.