CRISPR Therapeutics (NASDAQ:CRSP) Price Target Cut to $53.00

CRISPR Therapeutics (NASDAQ:CRSP) had its price objective reduced by research analysts at Royal Bank of Canada from $60.00 to $53.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 17.57% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Truist Financial lowered their price target on shares of CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Needham & Company LLC dropped their target price on shares of CRISPR Therapeutics from $88.00 to $84.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of CRISPR Therapeutics in a research report on Thursday, August 8th. Chardan Capital cut their target price on shares of CRISPR Therapeutics from $112.00 to $94.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Barclays lowered their target price on shares of CRISPR Therapeutics from $67.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, CRISPR Therapeutics presently has a consensus rating of “Hold” and an average target price of $75.19.

CRISPR Therapeutics Stock Up 0.4 %

CRISPR Therapeutics stock traded up $0.18 during trading hours on Friday, hitting $45.08. The stock had a trading volume of 260,722 shares, compared to its average volume of 1,477,815. The stock’s 50-day moving average price is $48.42 and its 200-day moving average price is $55.25. CRISPR Therapeutics has a 12-month low of $37.55 and a 12-month high of $91.10. The stock has a market capitalization of $3.83 billion, a P/E ratio of -16.58 and a beta of 1.68.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Monday, August 5th. The company reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.43) by ($0.06). The business had revenue of $0.52 million for the quarter, compared to analyst estimates of $12.31 million. CRISPR Therapeutics’s revenue for the quarter was down 99.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.98) EPS. On average, research analysts expect that CRISPR Therapeutics will post -5.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Riggs Asset Managment Co. Inc. lifted its stake in CRISPR Therapeutics by 66.7% in the first quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the company’s stock valued at $34,000 after purchasing an additional 200 shares during the last quarter. SFE Investment Counsel increased its position in shares of CRISPR Therapeutics by 3.6% during the second quarter. SFE Investment Counsel now owns 5,846 shares of the company’s stock valued at $316,000 after acquiring an additional 203 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of CRISPR Therapeutics by 4.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,606 shares of the company’s stock worth $249,000 after acquiring an additional 211 shares during the last quarter. Orion Capital Management LLC raised its position in shares of CRISPR Therapeutics by 44.0% during the 1st quarter. Orion Capital Management LLC now owns 720 shares of the company’s stock valued at $49,000 after purchasing an additional 220 shares during the period. Finally, National Bank of Canada FI increased its holdings in CRISPR Therapeutics by 35.0% in the 2nd quarter. National Bank of Canada FI now owns 848 shares of the company’s stock valued at $46,000 after acquiring an additional 220 shares during the last quarter. 69.20% of the stock is 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.