Wells Fargo & Company Trims CRISPR Therapeutics (NASDAQ:CRSP) Target Price to $65.00

CRISPR Therapeutics (NASDAQ:CRSP) had its target price cut by investment analysts at Wells Fargo & Company from $70.00 to $65.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 23.55% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley upped their price objective on CRISPR Therapeutics from $46.00 to $48.00 and gave the company an “underweight” rating in a report on Monday, February 26th. Royal Bank of Canada upped their price objective on CRISPR Therapeutics from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Thursday, February 22nd. Barclays dropped their price objective on CRISPR Therapeutics from $80.00 to $67.00 and set an “equal weight” rating for the company in a report on Thursday. Wolfe Research started coverage on CRISPR Therapeutics in a report on Thursday, February 15th. They issued a “peer perform” rating for the company. Finally, Needham & Company LLC decreased their target price on CRISPR Therapeutics from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $73.33.

CRISPR Therapeutics Price Performance

Shares of CRSP stock traded down $0.68 on Thursday, reaching $52.61. 727,453 shares of the stock were exchanged, compared to its average volume of 1,749,234. The stock has a market cap of $4.47 billion, a PE ratio of -26.72 and a beta of 1.80. CRISPR Therapeutics has a one year low of $37.55 and a one year high of $91.10. The stock has a 50 day moving average price of $65.81 and a 200 day moving average price of $64.64.

CRISPR Therapeutics (NASDAQ:CRSP) last released its earnings results on Wednesday, May 8th. The company reported ($1.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.08). The firm had revenue of $0.50 million during the quarter, compared to the consensus estimate of $25.53 million. The firm’s revenue was down 99.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.67) EPS. On average, research analysts expect that CRISPR Therapeutics will post -6.24 earnings per share for the current fiscal year.

Insider Buying and Selling at CRISPR Therapeutics

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $80.36, for a total value of $1,607,200.00. Following the sale, the chief executive officer now owns 187,377 shares in the company, valued at $15,057,615.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Samarth Kulkarni sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $80.36, for a total transaction of $1,607,200.00. Following the transaction, the chief executive officer now owns 187,377 shares in the company, valued at $15,057,615.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel James R. Kasinger sold 1,913 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $79.67, for a total value of $152,408.71. Following the transaction, the general counsel now owns 57,371 shares in the company, valued at approximately $4,570,747.57. The disclosure for this sale can be found here. Insiders have sold 83,992 shares of company stock worth $6,132,335 over the last 90 days. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On CRISPR Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. ARK Investment Management LLC grew its position in CRISPR Therapeutics by 19.2% during the fourth quarter. ARK Investment Management LLC now owns 8,536,104 shares of the company’s stock worth $534,360,000 after buying an additional 1,372,986 shares in the last quarter. Capital International Investors grew its position in CRISPR Therapeutics by 0.8% during the fourth quarter. Capital International Investors now owns 6,134,450 shares of the company’s stock worth $384,017,000 after buying an additional 48,938 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of CRISPR Therapeutics by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 1,590,651 shares of the company’s stock valued at $99,575,000 after purchasing an additional 51,926 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of CRISPR Therapeutics by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 653,023 shares of the company’s stock valued at $40,879,000 after purchasing an additional 15,085 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of CRISPR Therapeutics in the 4th quarter valued at $38,661,000. Institutional investors and hedge funds own 69.20% of the company’s stock.

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.