Royal Bank of Canada Lowers CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $53.00

CRISPR Therapeutics (NASDAQ:CRSP) had its price target reduced by Royal Bank of Canada from $60.00 to $53.00 in a research note published on Friday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

CRSP has been the subject of a number of other reports. Piper Sandler reaffirmed an overweight rating and set a $105.00 price objective on shares of CRISPR Therapeutics in a research note on Monday, June 17th. Guggenheim restated a neutral rating on shares of CRISPR Therapeutics in a research report on Friday, June 28th. StockNews.com raised shares of CRISPR Therapeutics to a sell rating in a research note on Friday, August 16th. Truist Financial decreased their price target on shares of CRISPR Therapeutics from $120.00 to $100.00 and set a buy rating for the company in a report on Monday, August 12th. Finally, Barclays cut their price objective on CRISPR Therapeutics from $67.00 to $59.00 and set an equal weight rating on the stock in a report on Tuesday, August 6th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, CRISPR Therapeutics has an average rating of Hold and a consensus target price of $75.19.

CRISPR Therapeutics Price Performance

Shares of CRSP stock traded up $0.47 during trading hours on Friday, hitting $45.37. 1,134,352 shares of the company’s stock were exchanged, compared to its average volume of 1,482,361. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of -16.68 and a beta of 1.68. CRISPR Therapeutics has a 52 week low of $37.55 and a 52 week high of $91.10. The stock’s 50-day moving average is $48.17 and its 200-day moving average is $55.07.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Monday, August 5th. The company reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of ($1.43) by ($0.06). The business had revenue of $0.52 million during the quarter, compared to analysts’ expectations of $12.31 million. During the same quarter last year, the firm earned ($0.98) EPS. The business’s revenue was down 99.3% on a year-over-year basis. Equities research analysts forecast that CRISPR Therapeutics will post -5.6 earnings per share for the current fiscal year.

Institutional Trading of CRISPR Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. lifted its stake in shares of CRISPR Therapeutics by 66.7% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the company’s stock valued at $34,000 after buying an additional 200 shares in the last quarter. SFE Investment Counsel raised its position in shares of CRISPR Therapeutics by 3.6% in the second quarter. SFE Investment Counsel now owns 5,846 shares of the company’s stock worth $316,000 after buying an additional 203 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in CRISPR Therapeutics by 4.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,606 shares of the company’s stock valued at $249,000 after buying an additional 211 shares during the period. Orion Capital Management LLC grew its position in CRISPR Therapeutics by 44.0% during the first quarter. Orion Capital Management LLC now owns 720 shares of the company’s stock worth $49,000 after buying an additional 220 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in CRISPR Therapeutics by 35.0% in the 2nd quarter. National Bank of Canada FI now owns 848 shares of the company’s stock worth $46,000 after acquiring an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.

CRISPR Therapeutics Company Profile

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.