The Goldman Sachs Group Lowers CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $47.00

CRISPR Therapeutics (NASDAQ:CRSP) had its price objective decreased by investment analysts at The Goldman Sachs Group from $53.00 to $47.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 31.95% from the company’s previous close.

A number of other equities research analysts also recently commented on CRSP. TD Cowen upgraded CRISPR Therapeutics from a “sell” rating to a “hold” rating and set a $35.00 price objective for the company in a report on Wednesday, February 12th. StockNews.com raised CRISPR Therapeutics to a “sell” rating in a research note on Friday, March 21st. Stifel Nicolaus reduced their price objective on shares of CRISPR Therapeutics from $53.00 to $49.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. HC Wainwright reaffirmed a “buy” rating and issued a $65.00 target price on shares of CRISPR Therapeutics in a research note on Thursday, February 13th. Finally, Royal Bank of Canada reduced their price target on shares of CRISPR Therapeutics from $53.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $73.12.

CRISPR Therapeutics Stock Down 1.4 %

Shares of NASDAQ:CRSP opened at $35.62 on Thursday. The firm has a market cap of $3.08 billion, a P/E ratio of -8.15 and a beta of 1.88. CRISPR Therapeutics has a 12 month low of $30.04 and a 12 month high of $67.88. The company’s 50-day moving average price is $38.15 and its two-hundred day moving average price is $42.77.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($1.58) EPS for the quarter, missing analysts’ consensus estimates 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%. CRISPR Therapeutics’s revenue for the quarter was up 71.6% compared to the same quarter last year. During the same period last year, the business earned ($1.43) earnings per share. As a group, equities analysts predict that CRISPR Therapeutics will post -5.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Samarth Kulkarni sold 9,973 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $42.42, for a total transaction of $423,054.66. Following the completion of the transaction, the chief executive officer now owns 180,890 shares in the company, valued at approximately $7,673,353.80. This represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel James R. Kasinger sold 2,850 shares of CRISPR Therapeutics stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $42.42, for a total transaction of $120,897.00. Following the completion of the sale, the general counsel now owns 77,530 shares in the company, valued at $3,288,822.60. The trade was a 3.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,381 shares of company stock valued at $1,608,243 in the last quarter. 4.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CRSP. Vanguard Group Inc. boosted its holdings in shares of CRISPR Therapeutics by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 1,769,709 shares of the company’s stock valued at $60,223,000 after buying an additional 33,711 shares during the last quarter. Costello Asset Management INC acquired a new stake in CRISPR Therapeutics in the first quarter valued at $27,000. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in CRISPR Therapeutics by 79.8% in the first quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 65,195 shares of the company’s stock valued at $2,219,000 after acquiring an additional 28,931 shares during the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its position in shares of CRISPR Therapeutics by 10.5% in the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 21,000 shares of the company’s stock valued at $715,000 after acquiring an additional 2,000 shares during the period. Finally, Privium Fund Management B.V. raised its holdings in shares of CRISPR Therapeutics by 71.7% in the 1st quarter. Privium Fund Management B.V. now owns 60,097 shares of the company’s stock valued at $2,045,000 after purchasing an additional 25,100 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.