CRISPR Therapeutics (NASDAQ:CRSP) Price Target Cut to $63.00

CRISPR Therapeutics (NASDAQ:CRSPGet Rating) had its price objective reduced by equities researchers at Citigroup from $83.00 to $63.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential upside of 14.48% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus raised their price target on CRISPR Therapeutics from $55.00 to $69.00 in a research report on Tuesday, August 9th. Credit Suisse Group decreased their target price on CRISPR Therapeutics from $90.00 to $78.00 in a research report on Wednesday, November 2nd. TheStreet cut CRISPR Therapeutics from a “c” rating to a “d” rating in a research report on Thursday, August 18th. SVB Leerink lifted their target price on CRISPR Therapeutics from $75.00 to $76.00 and gave the company an “outperform” rating in a research report on Monday, November 7th. Finally, Barclays decreased their target price on CRISPR Therapeutics from $88.00 to $61.00 in a research report on Wednesday, November 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $101.44.

CRISPR Therapeutics Stock Performance

Shares of NASDAQ CRSP opened at $55.03 on Wednesday. CRISPR Therapeutics has a 52 week low of $42.51 and a 52 week high of $86.95. The stock has a market capitalization of $4.31 billion, a P/E ratio of -6.25 and a beta of 1.71. The stock’s fifty day moving average is $58.28 and its 200 day moving average is $64.37.

CRISPR Therapeutics (NASDAQ:CRSPGet Rating) last issued its quarterly earnings results on Tuesday, November 1st. The company reported ($2.24) EPS for the quarter, topping analysts’ consensus estimates of ($2.30) by $0.06. CRISPR Therapeutics had a negative return on equity of 31.34% and a negative net margin of 4,831.79%. The company had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $3.53 million. Equities research analysts forecast that CRISPR Therapeutics will post -9.23 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Samarth Kulkarni sold 25,000 shares of CRISPR Therapeutics stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $64.61, for a total value of $1,615,250.00. Following the transaction, the chief executive officer now directly owns 290,279 shares of the company’s stock, valued at $18,754,926.19. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 75,000 shares of company stock valued at $4,656,500 over the last ninety days. 5.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Several institutional investors have recently added to or reduced their stakes in CRSP. Signaturefd LLC lifted its stake in CRISPR Therapeutics by 144.5% in the first quarter. Signaturefd LLC now owns 1,809 shares of the company’s stock valued at $114,000 after buying an additional 1,069 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in CRISPR Therapeutics by 155.5% in the first quarter. Steward Partners Investment Advisory LLC now owns 1,796 shares of the company’s stock valued at $113,000 after buying an additional 1,093 shares during the period. National Asset Management Inc. lifted its stake in CRISPR Therapeutics by 3.9% in the first quarter. National Asset Management Inc. now owns 7,329 shares of the company’s stock valued at $461,000 after buying an additional 275 shares during the period. FDx Advisors Inc. lifted its stake in CRISPR Therapeutics by 21.1% in the first quarter. FDx Advisors Inc. now owns 8,598 shares of the company’s stock valued at $540,000 after buying an additional 1,500 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of CRISPR Therapeutics by 16.0% during the first quarter. State of New Jersey Common Pension Fund D now owns 45,404 shares of the company’s stock valued at $2,850,000 after acquiring an additional 6,263 shares in the last quarter. 70.56% of the stock is owned by institutional investors and hedge funds.

About CRISPR Therapeutics

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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.

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