Chardan Capital Cuts CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $84.00

CRISPR Therapeutics (NASDAQ:CRSP) had its price objective cut by Chardan Capital from $94.00 to $84.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued reports about the company. Bank of America reduced their target price on CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. StockNews.com raised shares of CRISPR Therapeutics to a “sell” rating in a research note on Monday, December 30th. Truist Financial raised their price target on shares of CRISPR Therapeutics from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday. JMP Securities reiterated a “market outperform” rating and issued a $86.00 price objective on shares of CRISPR Therapeutics in a research note on Friday, December 20th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $65.00 price target on shares of CRISPR Therapeutics in a research note on Thursday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $74.50.

CRISPR Therapeutics Stock Performance

NASDAQ:CRSP opened at $49.72 on Thursday. The firm’s 50-day moving average is $41.89 and its 200-day moving average is $46.10. CRISPR Therapeutics has a 52-week low of $36.52 and a 52-week high of $91.10. The company has a market cap of $4.24 billion, a price-to-earnings ratio of -17.57 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Equities analysts predict that CRISPR Therapeutics will post -5.08 EPS for the current year.

Insider Buying and Selling

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 15,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $55.10, for a total transaction of $826,500.00. Following the completion of the sale, the chief executive officer now directly owns 181,540 shares of the company’s stock, valued at approximately $10,002,854. The trade was a 7.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Capital Market Strategies LLC bought a new stake in CRISPR Therapeutics in the fourth quarter valued at about $461,000. KBC Group NV boosted its holdings in CRISPR Therapeutics by 2,047.4% during the fourth quarter. KBC Group NV now owns 60,514 shares of the company’s stock worth $2,382,000 after buying an additional 57,696 shares during the last quarter. Capital Advisors Inc. OK boosted its holdings in CRISPR Therapeutics by 8.1% during the third quarter. Capital Advisors Inc. OK now owns 300,589 shares of the company’s stock worth $14,122,000 after buying an additional 22,583 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of CRISPR Therapeutics by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,008,214 shares of the company’s stock valued at $47,383,000 after acquiring an additional 35,196 shares during the last quarter. Finally, State Street Corp increased its stake in shares of CRISPR Therapeutics by 25.0% in the 3rd quarter. State Street Corp now owns 2,992,988 shares of the company’s stock valued at $140,611,000 after acquiring an additional 599,304 shares during the last quarter. 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.