CRISPR Therapeutics (NASDAQ:CRSP) PT Lowered to $84.00 at Citigroup

CRISPR Therapeutics (NASDAQ:CRSP) had its price target reduced by Citigroup from $89.00 to $84.00 in a research note published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the company. TheStreet raised CRISPR Therapeutics from a d+ rating to a c rating in a research report on Friday, February 23rd. Morgan Stanley increased their price target on CRISPR Therapeutics from $46.00 to $48.00 and gave the stock an underweight rating in a report on Monday, February 26th. Wolfe Research initiated coverage on shares of CRISPR Therapeutics in a research note on Thursday, February 15th. They issued a peer perform rating for the company. Needham & Company LLC dropped their target price on shares of CRISPR Therapeutics from $90.00 to $88.00 and set a buy rating on the stock in a research report on Thursday, May 9th. Finally, Wells Fargo & Company reduced their price target on shares of CRISPR Therapeutics from $70.00 to $65.00 and set an equal weight rating for the company in a report on Thursday, May 9th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $73.57.

CRISPR Therapeutics Stock Performance

CRISPR Therapeutics stock opened at $55.24 on Thursday. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of -20.31 and a beta of 1.80. CRISPR Therapeutics has a 52-week low of $37.55 and a 52-week high of $91.10. The firm has a 50 day moving average price of $60.23 and a two-hundred day moving average price of $65.59.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($1.43) earnings per share for the quarter, missing the consensus estimate of ($1.35) by ($0.08). The firm had revenue of $0.50 million for the quarter, compared to the consensus estimate of $25.53 million. The firm’s revenue for the quarter was down 99.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.67) EPS. As a group, equities research analysts predict that CRISPR Therapeutics will post -5.64 EPS for the current fiscal year.

Insider Buying and Selling

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 19,582 shares of CRISPR Therapeutics stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the completion of the transaction, the chief executive officer now owns 208,122 shares in the company, valued at approximately $12,468,589.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Raju Prasad sold 3,524 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $72.69, for a total value of $256,159.56. Following the completion of the sale, the chief financial officer now owns 6,476 shares in the company, valued at $470,740.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Samarth Kulkarni sold 19,582 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $59.91, for a total transaction of $1,173,157.62. Following the transaction, the chief executive officer now directly owns 208,122 shares in the company, valued at $12,468,589.02. The disclosure for this sale can be found here. Insiders have sold 55,709 shares of company stock worth $3,865,228 in the last quarter. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On CRISPR Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of CRSP. Riggs Asset Managment Co. Inc. increased its holdings in CRISPR Therapeutics by 66.7% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the company’s stock worth $34,000 after acquiring an additional 200 shares during the period. Blue Trust Inc. bought a new stake in CRISPR Therapeutics during the fourth quarter valued at $32,000. Bourgeon Capital Management LLC increased its stake in CRISPR Therapeutics by 1,000.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 550 shares of the company’s stock worth $34,000 after acquiring an additional 500 shares during the last quarter. NBC Securities Inc. raised its holdings in shares of CRISPR Therapeutics by 257.6% in the 1st quarter. NBC Securities Inc. now owns 608 shares of the company’s stock valued at $41,000 after acquiring an additional 438 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of CRISPR Therapeutics during the 4th quarter valued at about $41,000. 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.