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

CRISPR Therapeutics (NASDAQ:CRSP) had its price target reduced by equities researchers at Royal Bank of Canada from $60.00 to $53.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 17.57% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Rodman & Renshaw initiated coverage on shares of CRISPR Therapeutics in a report on Friday, August 2nd. They set a “buy” rating and a $90.00 price target for the company. Piper Sandler reiterated an “overweight” rating and set a $105.00 price target on shares of CRISPR Therapeutics in a report on Monday, June 17th. StockNews.com upgraded CRISPR Therapeutics to a “sell” rating in a research report on Friday, August 16th. Guggenheim reaffirmed a “neutral” rating on shares of CRISPR Therapeutics in a research note on Friday, June 28th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of CRISPR Therapeutics in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $75.19.

CRISPR Therapeutics Trading Up 0.4 %

CRSP stock traded up $0.18 during trading on Friday, reaching $45.08. 260,722 shares of the stock were exchanged, compared to its average volume of 1,477,815. The business has a 50 day moving average price of $48.42 and a 200-day moving average price of $55.25. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of -16.58 and a beta of 1.68. CRISPR Therapeutics has a 1 year low of $37.55 and a 1 year high of $91.10.

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

Institutional Trading of CRISPR Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Nordea Investment Management AB grew its stake in shares of CRISPR Therapeutics by 40.8% in the first quarter. Nordea Investment Management AB now owns 148,700 shares of the company’s stock worth $10,305,000 after acquiring an additional 43,100 shares during the last quarter. Congress Asset Management Co. MA grew its position in shares of CRISPR Therapeutics by 60.3% in the 1st quarter. Congress Asset Management Co. MA now owns 64,605 shares of the company’s stock valued at $4,403,000 after purchasing an additional 24,303 shares during the period. PBCay One RSC Ltd bought a new position in shares of CRISPR Therapeutics during the 4th quarter worth approximately $10,329,000. Cetera Investment Advisers grew its stake in shares of CRISPR Therapeutics by 451.3% in the first quarter. Cetera Investment Advisers now owns 34,100 shares of the company’s stock valued at $2,324,000 after buying an additional 27,915 shares in the last quarter. Finally, CWM LLC lifted its holdings in CRISPR Therapeutics by 11,871.1% during the 2nd quarter. CWM LLC now owns 22,386 shares of the company’s stock valued at $1,209,000 after purchasing an additional 22,199 shares during the last quarter. 69.20% of the stock is owned by hedge funds and other institutional investors.

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.