CRISPR Therapeutics (NASDAQ:CRSP) Given New $89.00 Price Target at Bank of America

CRISPR Therapeutics (NASDAQ:CRSP) had its price objective reduced by Bank of America from $90.00 to $89.00 in a report released on Thursday morning,MarketScreener reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company set a $75.00 target price on shares of CRISPR Therapeutics in a research note on Monday, October 13th. Robert W. Baird cut their price target on CRISPR Therapeutics from $52.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of CRISPR Therapeutics in a research report on Wednesday. Citigroup reissued a “buy” rating and issued a $77.00 price objective (down from $87.00) on shares of CRISPR Therapeutics in a report on Tuesday, November 11th. Finally, Wedbush reduced their target price on CRISPR Therapeutics from $13.00 to $9.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Twelve research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $68.15.

CRISPR Therapeutics Stock Performance

Shares of CRISPR Therapeutics stock traded down $2.52 during trading on Thursday, hitting $58.30. 324,521 shares of the company’s stock were exchanged, compared to its average volume of 1,783,532. The business has a 50-day simple moving average of $54.88 and a 200-day simple moving average of $58.35. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of -10.44 and a beta of 1.70. CRISPR Therapeutics has a 52-week low of $30.04 and a 52-week high of $78.48.

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

Insider Activity at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 60,000 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 134,201 shares of the company’s stock, valued at approximately $8,082,926.23. This represents a 30.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Orbis Allan Gray Ltd boosted its holdings in shares of CRISPR Therapeutics by 76.9% during the 2nd quarter. Orbis Allan Gray Ltd now owns 2,764,532 shares of the company’s stock worth $134,467,000 after purchasing an additional 1,201,600 shares during the last quarter. Geode Capital Management LLC boosted its stake in CRISPR Therapeutics by 98.1% during the second quarter. Geode Capital Management LLC now owns 2,071,883 shares of the company’s stock worth $100,789,000 after buying an additional 1,025,979 shares during the last quarter. SR One Capital Management LP grew its holdings in CRISPR Therapeutics by 94.4% in the 3rd quarter. SR One Capital Management LP now owns 2,038,763 shares of the company’s stock valued at $132,132,000 after buying an additional 989,812 shares in the last quarter. State Street Corp increased its stake in shares of CRISPR Therapeutics by 35.6% in the 2nd quarter. State Street Corp now owns 3,270,596 shares of the company’s stock worth $159,082,000 after acquiring an additional 859,334 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of CRISPR Therapeutics during the 2nd quarter worth $19,772,000. 69.20% of the stock is currently owned by institutional investors and hedge funds.

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 ?-thalassemia in collaboration with Vertex Pharmaceuticals.