Citigroup Cuts CRISPR Therapeutics (NASDAQ:CRSP) Price Target to $84.00

CRISPR Therapeutics (NASDAQ:CRSP) had its price target decreased by Citigroup from $89.00 to $84.00 in a report issued on Thursday, Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other research firms have also recently weighed in on CRSP. Barclays reduced their price target on CRISPR Therapeutics from $80.00 to $67.00 and set an equal weight rating on the stock in a report on Thursday, May 9th. Needham & Company LLC decreased their price target on shares of CRISPR Therapeutics from $90.00 to $88.00 and set a buy rating for the company in a research report on Thursday, May 9th. Wolfe Research assumed coverage on shares of CRISPR Therapeutics in a research note on Thursday, February 15th. They set a peer perform rating for the company. Cantor Fitzgerald reissued a neutral rating on shares of CRISPR Therapeutics in a research note on Thursday, May 9th. Finally, Chardan Capital raised their target price on CRISPR Therapeutics from $110.00 to $112.00 and gave the stock a buy rating in a research report on Thursday, February 22nd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $73.57.

CRISPR Therapeutics Price Performance

Shares of NASDAQ:CRSP opened at $55.24 on Thursday. CRISPR Therapeutics has a one year low of $37.55 and a one year high of $91.10. The company has a market cap of $4.69 billion, a price-to-earnings ratio of -20.31 and a beta of 1.80. The firm has a 50 day simple moving average of $60.23 and a 200 day simple moving average of $65.54.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($1.43) EPS for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.08). The firm had revenue of $0.50 million during the quarter, compared to the consensus estimate of $25.53 million. The business’s revenue was down 99.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.67) EPS. As a group, analysts expect that CRISPR Therapeutics will post -5.64 EPS for the current year.

Insider Buying and Selling at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 9,802 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $78.26, for a total transaction of $767,104.52. Following the completion of the sale, the chief executive officer now owns 203,705 shares of the company’s stock, valued at approximately $15,941,953.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 9,802 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $78.26, for a total value of $767,104.52. Following the completion of the sale, the chief executive officer now directly owns 203,705 shares in the company, valued at $15,941,953.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel James R. Kasinger sold 2,801 shares of CRISPR Therapeutics stock in a transaction on Monday, March 11th. The shares were sold at an average price of $78.26, for a total transaction of $219,206.26. Following the completion of the sale, the general counsel now directly owns 60,070 shares of the company’s stock, valued at $4,701,078.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,709 shares of company stock valued at $3,865,228. 4.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CRSP. Riggs Asset Managment Co. Inc. increased its holdings in shares of CRISPR Therapeutics by 66.7% during the first quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the company’s stock valued at $34,000 after acquiring an additional 200 shares in the last quarter. Orion Capital Management LLC increased its stake in CRISPR Therapeutics by 44.0% during 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 in the last quarter. Signaturefd LLC raised its holdings in CRISPR Therapeutics by 12.5% during the third quarter. Signaturefd LLC now owns 2,124 shares of the company’s stock worth $96,000 after buying an additional 236 shares during the last quarter. Itau Unibanco Holding S.A. lifted its stake in shares of CRISPR Therapeutics by 10.8% in the third quarter. Itau Unibanco Holding S.A. now owns 2,521 shares of the company’s stock valued at $114,000 after buying an additional 245 shares in the last quarter. Finally, Spire Wealth Management grew its holdings in shares of CRISPR Therapeutics by 32.7% during the third quarter. Spire Wealth Management now owns 1,052 shares of the company’s stock valued at $48,000 after buying an additional 259 shares during the last quarter. 69.20% of the stock is owned by institutional investors and hedge funds.

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.