Royal Bank of Canada Cuts CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $48.00

CRISPR Therapeutics (NASDAQ:CRSP) had its target price cut by equities researchers at Royal Bank of Canada from $53.00 to $48.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 13.00% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Chardan Capital reissued a “buy” rating and issued a $94.00 target price on shares of CRISPR Therapeutics in a report on Tuesday, December 10th. Bank of America reduced their price objective on shares of CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Barclays upped their target price on shares of CRISPR Therapeutics from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Wednesday. TD Cowen upgraded shares of CRISPR Therapeutics from a “sell” rating to a “hold” rating and set a $35.00 price target for the company in a research report on Wednesday. Finally, StockNews.com upgraded CRISPR Therapeutics to a “sell” rating in a report on Monday, December 30th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, CRISPR Therapeutics has an average rating of “Hold” and an average target price of $75.00.

CRISPR Therapeutics Price Performance

Shares of CRSP stock traded up $2.86 during trading hours on Wednesday, reaching $42.48. 2,226,140 shares of the stock were exchanged, compared to its average volume of 1,941,534. CRISPR Therapeutics has a 12-month low of $36.52 and a 12-month high of $91.10. The firm has a market capitalization of $3.63 billion, a P/E ratio of -15.00 and a beta of 1.67. The business’s fifty day moving average is $42.45 and its two-hundred day moving average is $46.40.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.71. CRISPR Therapeutics had a negative return on equity of 12.15% and a negative net margin of 118.13%. As a group, equities research analysts predict that CRISPR Therapeutics will post -5.08 earnings per share for the current fiscal year.

Insider Transactions at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $55.10, for a total transaction of $826,500.00. Following the sale, the chief executive officer now owns 181,540 shares in the company, valued at $10,002,854. The trade was a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.10% of the company’s stock.

Institutional Trading of CRISPR Therapeutics

Large investors have recently modified their holdings of the company. Highline Wealth Partners LLC bought a new stake in CRISPR Therapeutics in the 4th quarter valued at $39,000. Western Pacific Wealth Management LP boosted its holdings in shares of CRISPR Therapeutics by 100.0% in the 4th quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock worth $39,000 after acquiring an additional 500 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in CRISPR Therapeutics in the third quarter worth $40,000. Darwin Wealth Management LLC bought a new stake in shares of CRISPR Therapeutics during the third quarter worth $43,000. Finally, Eastern Bank acquired a new stake in shares of CRISPR Therapeutics in the third quarter valued at $70,000. 69.20% of the stock is owned by 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.