Bank of America Lowers CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $89.00

CRISPR Therapeutics (NASDAQ:CRSP) had its price objective reduced by investment analysts at Bank of America from $90.00 to $89.00 in a note issued to investors on Thursday,MarketScreener reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price indicates a potential upside of 60.30% from the stock’s previous close.

A number of other analysts have also recently issued reports on the stock. Citizens Jmp reiterated a “market outperform” rating and issued a $86.00 target price on shares of CRISPR Therapeutics in a research note on Tuesday, December 23rd. Chardan Capital cut their price target on shares of CRISPR Therapeutics from $82.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday, November 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CRISPR Therapeutics in a research note on Wednesday. Royal Bank Of Canada increased their target price on shares of CRISPR Therapeutics from $42.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 11th. Finally, Wells Fargo & Company set a $75.00 target price on CRISPR Therapeutics in a report on Monday, October 13th. Twelve research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $68.15.

CRISPR Therapeutics Trading Down 8.7%

CRSP opened at $55.52 on Thursday. The stock has a fifty day moving average price of $54.94 and a 200 day moving average price of $58.38. CRISPR Therapeutics has a 1 year low of $30.04 and a 1 year high of $78.48. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of -9.93 and a beta of 1.70.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its earnings results on Monday, November 10th. The company reported ($1.17) earnings per share for the quarter, topping the consensus estimate of ($1.32) by $0.15. The company had revenue of $0.89 million for the quarter, compared to analyst estimates of $8.74 million. CRISPR Therapeutics had a negative return on equity of 21.23% and a negative net margin of 1,273.70%. As a group, sell-side analysts forecast that CRISPR Therapeutics will post -5.16 earnings per share for the current fiscal year.

Insider Transactions at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 60,000 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $60.23, for a total value of $3,613,800.00. Following the sale, the chief executive officer directly owned 134,201 shares of the company’s stock, valued at approximately $8,082,926.23. This trade represents a 30.90% 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. 4.30% of the stock is owned by company insiders.

Institutional Trading of CRISPR Therapeutics

Several hedge funds have recently added to or reduced their stakes in CRSP. Koss Olinger Consulting LLC raised its position in shares of CRISPR Therapeutics by 29.8% during the second quarter. Koss Olinger Consulting LLC now owns 42,197 shares of the company’s stock valued at $2,052,000 after buying an additional 9,685 shares during the last quarter. IVC Wealth Advisors LLC acquired a new stake in CRISPR Therapeutics during the second quarter worth about $225,000. Slow Capital Inc. increased its stake in CRISPR Therapeutics by 15.6% during the second quarter. Slow Capital Inc. now owns 75,396 shares of the company’s stock valued at $3,667,000 after acquiring an additional 10,152 shares during the period. Legal & General Group Plc raised its holdings in CRISPR Therapeutics by 59.7% in the 2nd quarter. Legal & General Group Plc now owns 129,567 shares of the company’s stock valued at $6,302,000 after acquiring an additional 48,412 shares in the last quarter. Finally, Intellectus Partners LLC acquired a new position in CRISPR Therapeutics in the 2nd quarter valued at approximately $284,000. Institutional investors own 69.20% of the company’s stock.

About CRISPR Therapeutics

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.