Citigroup Cuts CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $82.00

CRISPR Therapeutics (NASDAQ:CRSP) had its price target decreased by Citigroup from $89.00 to $82.00 in a research note released on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other research firms have also issued reports on CRSP. Evercore ISI upgraded CRISPR Therapeutics from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $60.00 to $99.00 in a research report on Friday, February 14th. Royal Bank of Canada decreased their price objective on shares of CRISPR Therapeutics from $53.00 to $48.00 and set a “sector perform” rating for the company in a report on Wednesday, February 12th. Bank of America cut their target price on shares of CRISPR Therapeutics from $98.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. The Goldman Sachs Group decreased their price target on shares of CRISPR Therapeutics from $66.00 to $57.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Finally, HC Wainwright restated a “buy” rating and issued a $65.00 price objective on shares of CRISPR Therapeutics in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $74.40.

CRISPR Therapeutics Stock Performance

Shares of NASDAQ:CRSP opened at $50.46 on Tuesday. The company’s fifty day moving average is $42.16 and its 200-day moving average is $46.07. CRISPR Therapeutics has a 52 week low of $36.52 and a 52 week high of $91.10. The company has a market capitalization of $4.33 billion, a PE ratio of -11.55 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.71. CRISPR Therapeutics had a negative return on equity of 18.46% and a negative net margin of 981.54%. On average, analysts forecast that CRISPR Therapeutics will post -5.03 EPS for the current year.

Insider Activity

In related news, CEO Samarth Kulkarni sold 15,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $55.10, for a total transaction of $826,500.00. Following the sale, the chief executive officer now owns 181,540 shares in the company, valued at $10,002,854. The trade was a 7.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of CRISPR Therapeutics

A number of hedge funds have recently made changes to their positions in CRSP. Highline Wealth Partners LLC acquired a new position in shares of CRISPR Therapeutics in the fourth quarter valued at approximately $39,000. Western Pacific Wealth Management LP grew its holdings in CRISPR Therapeutics by 100.0% during the 4th quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock worth $39,000 after acquiring an additional 500 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in CRISPR Therapeutics in the 3rd quarter valued at approximately $40,000. Darwin Wealth Management LLC bought a new position in shares of CRISPR Therapeutics during the third quarter valued at $43,000. Finally, Eastern Bank acquired a new position in shares of CRISPR Therapeutics during the third quarter worth $70,000. 69.20% of the stock is 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.