CRISPR Therapeutics (NASDAQ:CRSP) Price Target Lowered to $67.00 at Barclays

CRISPR Therapeutics (NASDAQ:CRSP) had its price target reduced by equities researchers at Barclays from $80.00 to $67.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential upside of 26.99% from the company’s previous close.

A number of other research analysts also recently issued reports on CRSP. Wolfe Research started coverage on shares of CRISPR Therapeutics in a research report on Thursday, February 15th. They set a “peer perform” rating on the stock. TheStreet upgraded shares of CRISPR Therapeutics from a “d+” rating to a “c” rating in a research note on Friday, February 23rd. Royal Bank of Canada upped their target price on shares of CRISPR Therapeutics from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 22nd. Cantor Fitzgerald restated a “neutral” rating on shares of CRISPR Therapeutics in a research report on Thursday. Finally, Mizuho increased their price target on shares of CRISPR Therapeutics from $82.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, CRISPR Therapeutics has a consensus rating of “Hold” and a consensus price target of $73.67.

CRISPR Therapeutics Trading Down 1.0 %

NASDAQ:CRSP traded down $0.53 during mid-day trading on Thursday, hitting $52.76. 610,924 shares of the company’s stock were exchanged, compared to its average volume of 1,747,704. The firm has a market capitalization of $4.48 billion, a P/E ratio of -26.72 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 company has a 50 day simple moving average of $65.81 and a 200-day simple moving average of $64.64.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.08). The firm had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $25.53 million. The business’s revenue for the quarter was down 99.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.67) EPS. As a group, analysts expect that CRISPR Therapeutics will post -6.24 earnings per share for the current year.

Insider Activity at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were 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 directly owns 187,377 shares of the company’s stock, valued at $15,057,615.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were 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 directly owns 187,377 shares in the company, valued at $15,057,615.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel James R. Kasinger sold 2,801 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $78.26, for a total transaction of $219,206.26. Following the transaction, the general counsel now owns 60,070 shares in the company, valued at $4,701,078.20. The disclosure for this sale can be found here. Insiders have sold 83,992 shares of company stock valued at $6,132,335 over the last three months. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Interchange Capital Partners LLC grew its holdings in shares of CRISPR Therapeutics by 7.6% in the first quarter. Interchange Capital Partners LLC now owns 7,125 shares of the company’s stock worth $489,000 after purchasing an additional 505 shares during the last quarter. Entropy Technologies LP bought a new position in shares of CRISPR Therapeutics in the first quarter worth approximately $1,723,000. ProShare Advisors LLC grew its holdings in shares of CRISPR Therapeutics by 10.1% in the first quarter. ProShare Advisors LLC now owns 5,791 shares of the company’s stock worth $395,000 after purchasing an additional 530 shares during the last quarter. Reynders McVeigh Capital Management LLC lifted its stake in CRISPR Therapeutics by 5.4% in the first quarter. Reynders McVeigh Capital Management LLC now owns 96,979 shares of the company’s stock worth $6,611,000 after acquiring an additional 4,931 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in CRISPR Therapeutics in the first quarter worth $1,602,000. 69.20% of the stock is currently 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.