Barclays Issues Pessimistic Forecast for CRISPR Therapeutics (NASDAQ:CRSP) Stock Price

CRISPR Therapeutics (NASDAQ:CRSP) had its price target reduced by Barclays from $59.00 to $55.00 in a research note published on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

Other research analysts also recently issued research reports about the company. Cantor Fitzgerald restated a “neutral” rating on shares of CRISPR Therapeutics in a research note on Thursday, August 8th. Stifel Nicolaus decreased their price objective on CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Rodman & Renshaw started coverage on CRISPR Therapeutics in a report on Friday, August 2nd. They set a “buy” rating and a $90.00 price objective on the stock. Royal Bank of Canada decreased their price target on CRISPR Therapeutics from $60.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Finally, Chardan Capital cut their price objective on CRISPR Therapeutics from $112.00 to $94.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $74.94.

CRISPR Therapeutics Stock Performance

Shares of CRISPR Therapeutics stock traded down $0.26 on Wednesday, reaching $51.62. 1,306,222 shares of the company’s stock were exchanged, compared to its average volume of 1,455,758. CRISPR Therapeutics has a 52 week low of $43.42 and a 52 week high of $91.10. The firm’s 50-day moving average is $47.45 and its two-hundred day moving average is $52.21. The company has a market capitalization of $4.39 billion, a P/E ratio of -15.98 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) EPS for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.41. The company had revenue of $0.60 million during the quarter, compared to analysts’ expectations of $6.65 million. During the same period in the previous year, the company posted ($1.41) earnings per share. On average, analysts expect that CRISPR Therapeutics will post -5.57 EPS for the current fiscal year.

Insider Transactions at CRISPR Therapeutics

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 4,293 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $46.28, for a total transaction of $198,680.04. Following the completion of the sale, the chief executive officer now directly owns 226,540 shares of the company’s stock, valued at approximately $10,484,271.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Samarth Kulkarni sold 4,293 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $46.28, for a total value of $198,680.04. Following the sale, the chief executive officer now owns 226,540 shares in the company, valued at approximately $10,484,271.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel James R. Kasinger sold 1,089 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $46.28, for a total value of $50,398.92. Following the completion of the transaction, the general counsel now directly owns 62,597 shares of the company’s stock, valued at approximately $2,896,989.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of CRSP. Cetera Investment Advisers grew its holdings in shares of CRISPR Therapeutics by 451.3% during the 1st quarter. Cetera Investment Advisers now owns 34,100 shares of the company’s stock worth $2,324,000 after purchasing an additional 27,915 shares in the last quarter. CWM LLC grew its stake in CRISPR Therapeutics by 11,871.1% during the second quarter. CWM LLC now owns 22,386 shares of the company’s stock worth $1,209,000 after purchasing an additional 22,199 shares during the period. Capital Advisors Inc. OK grew its stake in CRISPR Therapeutics by 8.1% during the third quarter. Capital Advisors Inc. OK now owns 300,589 shares of the company’s stock worth $14,122,000 after purchasing an additional 22,583 shares during the period. Granite Bay Wealth Management LLC bought a new stake in shares of CRISPR Therapeutics during the second quarter valued at approximately $2,375,000. Finally, Krilogy Financial LLC increased its holdings in shares of CRISPR Therapeutics by 92.9% during the second quarter. Krilogy Financial LLC now owns 20,872 shares of the company’s stock valued at $1,127,000 after acquiring an additional 10,050 shares in the last quarter. 69.20% of the stock is currently owned by institutional investors and hedge funds.

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.