Citigroup Lowers CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $84.00

CRISPR Therapeutics (NASDAQ:CRSP) had its price objective reduced by equities research analysts at Citigroup from $89.00 to $84.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 50.00% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Robert W. Baird upped their price target on shares of CRISPR Therapeutics from $46.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Royal Bank of Canada upped their price target on shares of CRISPR Therapeutics from $57.00 to $66.00 and gave the company a “sector perform” rating in a research report on Thursday, February 22nd. Oppenheimer cut their price objective on shares of CRISPR Therapeutics from $102.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Mizuho increased their price objective on shares of CRISPR Therapeutics from $82.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Barclays cut their price objective on shares of CRISPR Therapeutics from $80.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 9th. Three investment 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $73.57.

CRISPR Therapeutics Price Performance

NASDAQ CRSP traded down $0.80 on Thursday, reaching $56.00. The company had a trading volume of 752,425 shares, compared to its average volume of 1,719,792. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of -20.55 and a beta of 1.80. CRISPR Therapeutics has a fifty-two week low of $37.55 and a fifty-two week high of $91.10. The business has a 50 day moving average of $60.91 and a two-hundred day moving average of $65.58.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings data 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 company had revenue of $0.50 million during the quarter, compared to analyst estimates of $25.53 million. The firm’s revenue for the quarter was down 99.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.67) EPS. As a group, research analysts predict that CRISPR Therapeutics will post -5.64 earnings per share for the current fiscal year.

Insider Buying and Selling at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $72.48, for a total transaction of $1,449,600.00. Following the completion of the sale, the chief executive officer now owns 208,122 shares in the company, valued at approximately $15,084,682.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other CRISPR Therapeutics news, CFO Raju Prasad sold 3,524 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $72.69, for a total value of $256,159.56. Following the completion of the transaction, the chief financial officer now directly owns 6,476 shares of the company’s stock, valued at approximately $470,740.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Samarth Kulkarni sold 20,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $72.48, for a total transaction of $1,449,600.00. Following the completion of the transaction, the chief executive officer now directly owns 208,122 shares of the company’s stock, valued at $15,084,682.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,709 shares of company stock worth $3,865,228. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Jump Financial LLC lifted its holdings in shares of CRISPR Therapeutics by 194.7% during the 3rd quarter. Jump Financial LLC now owns 33,307 shares of the company’s stock worth $1,512,000 after acquiring an additional 22,006 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of CRISPR Therapeutics by 1.5% during the 3rd quarter. Invesco Ltd. now owns 136,123 shares of the company’s stock worth $6,179,000 after acquiring an additional 2,061 shares during the last quarter. ARK Investment Management LLC raised its position in CRISPR Therapeutics by 19.2% in the 4th quarter. ARK Investment Management LLC now owns 8,536,104 shares of the company’s stock worth $534,360,000 after purchasing an additional 1,372,986 shares during the period. Prime Capital Investment Advisors LLC bought a new stake in CRISPR Therapeutics in the fourth quarter worth $206,000. Finally, Baker Chad R lifted its stake in CRISPR Therapeutics by 89.1% in the fourth quarter. Baker Chad R now owns 98,520 shares of the company’s stock worth $6,167,000 after purchasing an additional 46,420 shares during the last quarter. 69.20% of the stock is owned by institutional investors.

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.