CRISPR Therapeutics (NASDAQ:CRSP) Price Target Lowered to $53.00 at Royal Bank of Canada

CRISPR Therapeutics (NASDAQ:CRSP) had its price target reduced by Royal Bank of Canada from $60.00 to $53.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a sector perform rating on the stock.

A number of other equities analysts have also recently commented on CRSP. StockNews.com raised shares of CRISPR Therapeutics to a sell rating in a report on Friday, August 16th. Truist Financial cut their price target on CRISPR Therapeutics from $120.00 to $100.00 and set a buy rating for the company in a research note on Monday, August 12th. Guggenheim reaffirmed a neutral rating on shares of CRISPR Therapeutics in a research note on Friday, June 28th. Needham & Company LLC reduced their target price on shares of CRISPR Therapeutics from $88.00 to $84.00 and set a buy rating on the stock in a report on Tuesday, August 6th. Finally, Chardan Capital lowered their target price on shares of CRISPR Therapeutics from $112.00 to $94.00 and set a buy rating for the company in a research note on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and an average price target of $75.19.

CRISPR Therapeutics Price Performance

Shares of NASDAQ:CRSP traded up $0.47 during midday trading on Friday, reaching $45.37. 1,134,352 shares of the company’s stock were exchanged, compared to its average volume of 1,482,361. The firm’s 50 day simple moving average is $48.17 and its two-hundred day simple moving average is $55.07. CRISPR Therapeutics has a fifty-two week low of $37.55 and a fifty-two week high of $91.10. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of -16.68 and a beta of 1.68.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Monday, August 5th. The company reported ($1.49) EPS for the quarter, missing the consensus estimate of ($1.43) by ($0.06). The business had revenue of $0.52 million for the quarter, compared to the consensus estimate of $12.31 million. During the same period in the previous year, the company earned ($0.98) earnings per share. The firm’s revenue for the quarter was down 99.3% compared to the same quarter last year. Equities research analysts predict that CRISPR Therapeutics will post -5.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CRISPR Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC bought a new position in CRISPR Therapeutics in the 2nd quarter worth approximately $381,000. Granite Bay Wealth Management LLC acquired a new stake in CRISPR Therapeutics in the 2nd quarter worth $2,375,000. Sunbelt Securities Inc. increased its holdings in shares of CRISPR Therapeutics by 23.2% during the 2nd quarter. Sunbelt Securities Inc. now owns 2,655 shares of the company’s stock worth $143,000 after purchasing an additional 500 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of CRISPR Therapeutics by 4.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,606 shares of the company’s stock valued at $249,000 after buying an additional 211 shares during the last quarter. Finally, Creative Planning lifted its stake in shares of CRISPR Therapeutics by 3.2% in the second quarter. Creative Planning now owns 14,750 shares of the company’s stock valued at $797,000 after buying an additional 456 shares during the period. 69.20% of the stock is currently owned by institutional investors and hedge funds.

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.