CRISPR Therapeutics AG (NASDAQ:CRSP – Get Rating)’s stock price dropped 6.3% during mid-day trading on Thursday after JMP Securities lowered their price target on the stock from $100.00 to $70.00. JMP Securities currently has a market outperform rating on the stock. CRISPR Therapeutics traded as low as $47.39 and last traded at $47.39. Approximately 7,262 shares traded hands during trading, a decline of 99% from the average daily volume of 1,167,575 shares. The stock had previously closed at $50.55.
Other research analysts also recently issued reports about the company. Morgan Stanley initiated coverage on CRISPR Therapeutics in a research note on Tuesday, October 11th. They issued an “underweight” rating and a $37.00 price objective for the company. SVB Leerink increased their price objective on CRISPR Therapeutics from $75.00 to $76.00 and gave the company an “outperform” rating in a research note on Monday, November 7th. EF Hutton Acquisition Co. I initiated coverage on CRISPR Therapeutics in a research note on Thursday, January 5th. They issued a “buy” rating and a $75.00 price objective for the company. Citigroup reduced their price objective on CRISPR Therapeutics from $83.00 to $63.00 and set a “neutral” rating for the company in a research note on Wednesday, November 23rd. Finally, Royal Bank of Canada cut their target price on CRISPR Therapeutics from $79.00 to $70.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $98.22.
Insider Transactions at CRISPR Therapeutics
In other news, CEO Samarth Kulkarni sold 25,000 shares of the stock in a transaction on Wednesday, December 28th. The stock was sold at an average price of $40.93, for a total transaction of $1,023,250.00. Following the completion of the transaction, the chief executive officer now directly owns 369,111 shares in the company, valued at approximately $15,107,713.23. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 75,000 shares of company stock worth $3,744,250. 5.30% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On CRISPR Therapeutics
CRISPR Therapeutics Stock Down 5.7 %
The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of -5.42 and a beta of 1.77. The stock has a fifty day moving average price of $49.87 and a two-hundred day moving average price of $61.16.
CRISPR Therapeutics (NASDAQ:CRSP – Get Rating) last released its earnings results on Tuesday, November 1st. The company reported ($2.24) EPS for the quarter, beating the consensus estimate of ($2.30) by $0.06. The firm had revenue of $0.09 million during the quarter, compared to analyst estimates of $3.53 million. CRISPR Therapeutics had a negative return on equity of 31.34% and a negative net margin of 4,831.79%. As a group, research analysts forecast that CRISPR Therapeutics AG will post -9.23 earnings per share for the current fiscal year.
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.
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