Chardan Capital Trims CRISPR Therapeutics (NASDAQ:CRSP) Target Price to $94.00

CRISPR Therapeutics (NASDAQ:CRSP) had its price target decreased by Chardan Capital from $112.00 to $94.00 in a report released on Tuesday, Benzinga reports. Chardan Capital currently has a buy rating on the stock. Chardan Capital also issued estimates for CRISPR Therapeutics’ FY2024 earnings at ($5.75) EPS and FY2025 earnings at ($5.53) EPS.

A number of other research firms also recently commented on CRSP. JMP Securities restated a market outperform rating and set a $86.00 price target on shares of CRISPR Therapeutics in a research report on Thursday, May 9th. Guggenheim restated a neutral rating on shares of CRISPR Therapeutics in a research report on Friday, June 28th. Citigroup dropped their price target on shares of CRISPR Therapeutics from $89.00 to $84.00 and set a buy rating on the stock in a research report on Thursday, May 23rd. Needham & Company LLC reaffirmed a buy rating and issued a $88.00 price objective on shares of CRISPR Therapeutics in a research note on Thursday, June 27th. Finally, Stifel Nicolaus lowered their price objective on shares of CRISPR Therapeutics from $60.00 to $59.00 and set a hold rating on the stock in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $74.00.

CRISPR Therapeutics Trading Down 1.4 %

CRSP stock traded down $0.66 during mid-day trading on Tuesday, hitting $47.20. 329,983 shares of the company were exchanged, compared to its average volume of 1,591,810. The firm has a fifty day simple moving average of $56.72 and a 200 day simple moving average of $62.88. CRISPR Therapeutics has a twelve month low of $37.55 and a twelve month high of $91.10. The company has a market capitalization of $4.01 billion, a PE ratio of -17.60 and a beta of 1.70.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Monday, August 5th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.43) by ($0.06). The firm had revenue of $0.52 million for the quarter, compared to the consensus estimate of $12.31 million. During the same quarter in the prior year, the firm posted ($0.98) EPS. The business’s revenue was down 99.3% on a year-over-year basis. As a group, sell-side analysts anticipate that CRISPR Therapeutics will post -5.52 earnings per share for the current year.

Insider Transactions at CRISPR Therapeutics

In other news, COO Julianne Bruno sold 3,366 shares of CRISPR Therapeutics stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $56.09, for a total transaction of $188,798.94. Following the sale, the chief operating officer now owns 6,745 shares of the company’s stock, valued at approximately $378,327.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is owned by insiders.

Hedge Funds Weigh In On CRISPR Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Riggs Asset Managment Co. Inc. raised its position in CRISPR Therapeutics by 66.7% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the company’s stock valued at $34,000 after purchasing an additional 200 shares during the last quarter. SFE Investment Counsel raised its position in CRISPR Therapeutics by 3.6% in the 2nd quarter. SFE Investment Counsel now owns 5,846 shares of the company’s stock valued at $316,000 after purchasing an additional 203 shares during the last quarter. Orion Capital Management LLC raised its position in CRISPR Therapeutics by 44.0% in the 1st quarter. Orion Capital Management LLC now owns 720 shares of the company’s stock valued at $49,000 after purchasing an additional 220 shares during the last quarter. National Bank of Canada FI raised its position in CRISPR Therapeutics by 35.0% in the 2nd quarter. National Bank of Canada FI now owns 848 shares of the company’s stock valued at $46,000 after purchasing an additional 220 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in CRISPR Therapeutics by 95.5% in the 2nd quarter. Larson Financial Group LLC now owns 565 shares of the company’s stock valued at $31,000 after purchasing an additional 276 shares during the last quarter. Institutional investors own 69.20% of the company’s stock.

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.