Citigroup Cuts CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $82.00

CRISPR Therapeutics (NASDAQ:CRSP) had its price target decreased by investment analysts at Citigroup from $89.00 to $82.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 54.66% from the company’s current price.

Several other research analysts also recently issued reports on the company. Truist Financial lifted their price target on CRISPR Therapeutics from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Chardan Capital reduced their price target on shares of CRISPR Therapeutics from $94.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. The Goldman Sachs Group dropped their price objective on shares of CRISPR Therapeutics from $66.00 to $57.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Royal Bank of Canada reduced their target price on CRISPR Therapeutics from $53.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 12th. Finally, Evercore ISI raised CRISPR Therapeutics from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $60.00 to $99.00 in a research report on Friday, February 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $74.40.

CRISPR Therapeutics Stock Performance

Shares of NASDAQ CRSP opened at $53.02 on Tuesday. CRISPR Therapeutics has a one year low of $36.52 and a one year high of $91.10. The firm has a market capitalization of $4.55 billion, a P/E ratio of -12.13 and a beta of 1.67. The company’s fifty day moving average is $42.06 and its two-hundred day moving average is $46.04.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($1.15) by $0.71. CRISPR Therapeutics had a negative net margin of 981.54% and a negative return on equity of 18.46%. On average, sell-side analysts forecast that CRISPR Therapeutics will post -5.04 earnings per share for the current fiscal year.

Insider Transactions at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 15,000 shares of CRISPR Therapeutics stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $55.10, for a total value of $826,500.00. Following the transaction, the chief executive officer now directly owns 181,540 shares of the company’s stock, valued at $10,002,854. The trade was a 7.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CRSP. GF Fund Management CO. LTD. acquired a new stake in shares of CRISPR Therapeutics in the fourth quarter worth $71,000. Sunbelt Securities Inc. raised its position in CRISPR Therapeutics by 108.6% in the fourth quarter. Sunbelt Securities Inc. now owns 6,165 shares of the company’s stock valued at $238,000 after purchasing an additional 3,210 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of CRISPR Therapeutics by 2.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 690,191 shares of the company’s stock worth $27,166,000 after purchasing an additional 13,865 shares in the last quarter. Woodline Partners LP lifted its stake in shares of CRISPR Therapeutics by 1.6% during the fourth quarter. Woodline Partners LP now owns 101,600 shares of the company’s stock worth $3,999,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Westwood Holdings Group Inc. boosted its position in shares of CRISPR Therapeutics by 18.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 53,102 shares of the company’s stock worth $2,090,000 after buying an additional 8,120 shares during the period. Hedge funds and other institutional investors own 69.20% of the company’s stock.

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.