Bank of America Cuts CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $89.00

CRISPR Therapeutics (NASDAQ:CRSP) had its target price cut by Bank of America from $90.00 to $89.00 in a report released on Thursday morning,MarketScreener reports. They currently have a buy rating on the stock.

CRSP has been the subject of several other research reports. Chardan Capital lowered their target price on shares of CRISPR Therapeutics from $82.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. Wells Fargo & Company set a $75.00 price objective on shares of CRISPR Therapeutics in a research report on Monday, October 13th. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 price objective on shares of CRISPR Therapeutics in a research note on Tuesday, December 23rd. Royal Bank Of Canada lifted their target price on shares of CRISPR Therapeutics from $42.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of CRISPR Therapeutics in a research note on Wednesday. Twelve investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $68.15.

CRISPR Therapeutics Stock Down 8.7%

Shares of NASDAQ:CRSP opened at $55.52 on Thursday. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of -9.93 and a beta of 1.70. CRISPR Therapeutics has a 12-month low of $30.04 and a 12-month high of $78.48. The business’s 50 day moving average is $54.94 and its 200 day moving average is $58.41.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Monday, November 10th. The company reported ($1.17) EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $8.74 million. As a group, equities research analysts expect that CRISPR Therapeutics will post -5.16 earnings per share for the current year.

Insiders Place Their Bets

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 60,000 shares of the business’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $60.23, for a total value of $3,613,800.00. Following the transaction, the chief executive officer directly owned 134,201 shares in the company, valued at $8,082,926.23. The trade was a 30.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Institutional investors have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. increased its position in CRISPR Therapeutics by 196.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 576 shares of the company’s stock worth $30,000 after buying an additional 382 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new position in shares of CRISPR Therapeutics during the 2nd quarter valued at $33,000. Thompson Investment Management Inc. bought a new position in shares of CRISPR Therapeutics during the 3rd quarter worth $33,000. Optiver Holding B.V. increased its holdings in CRISPR Therapeutics by 71.4% in the 3rd quarter. Optiver Holding B.V. now owns 504 shares of the company’s stock worth $33,000 after acquiring an additional 210 shares during the last quarter. Finally, Strategic Advocates LLC bought a new stake in CRISPR Therapeutics in the 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 69.20% of the company’s stock.

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.