Citizens Jmp Cuts CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $80.00

CRISPR Therapeutics (NASDAQ:CRSP) had its target price reduced by Citizens Jmp from $86.00 to $80.00 in a research report sent to investors on Friday morning,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

A number of other brokerages have also commented on CRSP. Wedbush cut their price target on CRISPR Therapeutics from $13.00 to $9.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of CRISPR Therapeutics in a research note on Wednesday, January 21st. Needham & Company LLC restated a “buy” rating and issued a $80.00 price target on shares of CRISPR Therapeutics in a research report on Tuesday, December 23rd. Wells Fargo & Company set a $75.00 price objective on shares of CRISPR Therapeutics in a report on Monday, October 13th. Finally, Royal Bank Of Canada increased their target price on shares of CRISPR Therapeutics from $42.00 to $50.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 11th. Twelve analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $67.85.

CRISPR Therapeutics Price Performance

CRSP stock opened at $49.96 on Friday. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of -8.94 and a beta of 1.72. The company has a 50-day moving average of $55.08 and a two-hundred day moving average of $58.30. CRISPR Therapeutics has a 52-week low of $30.04 and a 52-week high of $78.48.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings data on Monday, November 10th. The company reported ($1.17) EPS for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.15. CRISPR Therapeutics had a negative return on equity of 21.23% and a negative net margin of 1,273.70%.The business had revenue of $0.89 million for the quarter, compared to analyst estimates of $8.74 million. Equities analysts expect that CRISPR Therapeutics will post -5.16 EPS for the current fiscal year.

Insider Buying and Selling

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 60,000 shares of CRISPR Therapeutics stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $60.23, for a total transaction of $3,613,800.00. Following the sale, the chief executive officer directly owned 134,201 shares of the company’s stock, valued at approximately $8,082,926.23. The trade was a 30.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.10% of the stock is currently owned by corporate insiders.

Institutional Trading of CRISPR Therapeutics

A number of large investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its stake in shares of CRISPR Therapeutics by 28.2% in the 1st quarter. Royal Bank of Canada now owns 142,696 shares of the company’s stock valued at $4,856,000 after purchasing an additional 31,392 shares in the last quarter. AQR Capital Management LLC bought a new position in CRISPR Therapeutics during the 1st quarter valued at about $861,000. Woodline Partners LP boosted its position in CRISPR Therapeutics by 34.3% in the first quarter. Woodline Partners LP now owns 136,483 shares of the company’s stock valued at $4,645,000 after buying an additional 34,883 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in CRISPR Therapeutics by 26.9% during the second quarter. Janney Montgomery Scott LLC now owns 13,585 shares of the company’s stock worth $661,000 after buying an additional 2,882 shares during the last quarter. Finally, PFG Investments LLC grew its stake in CRISPR Therapeutics by 23.9% during the second quarter. PFG Investments LLC now owns 12,896 shares of the company’s stock worth $627,000 after buying an additional 2,487 shares during the last quarter. 69.20% of the stock is currently owned by institutional investors.

About CRISPR Therapeutics

CRISPR Therapeutics AG is a biopharmaceutical company specializing in the development of gene-editing therapies based on the CRISPR/Cas9 platform. The company applies its proprietary technology to modify genes in human cells, aiming to create durable treatments for a range of serious diseases. Its research and development efforts focus on both ex vivo and in vivo applications, enabling targeted correction or disruption of disease-causing genes.

Among its lead programs is CTX001, an ex vivo edited cell therapy designed to treat sickle cell disease and transfusion-dependent β-thalassemia in collaboration with Vertex Pharmaceuticals.