CRISPR Therapeutics (NASDAQ:CRSP) Coverage Initiated at Rodman & Renshaw

Analysts at Rodman & Renshaw initiated coverage on shares of CRISPR Therapeutics (NASDAQ:CRSP) in a research note issued on Friday, MarketBeat.com reports. The brokerage set a “buy” rating and a $90.00 price target on the stock. Rodman & Renshaw’s price objective points to a potential upside of 76.09% from the stock’s previous close.

A number of other equities analysts also recently issued reports 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 research report on Thursday, May 9th. Oppenheimer reduced their price target on CRISPR Therapeutics from $102.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Citigroup cut their target price on CRISPR Therapeutics from $89.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Piper Sandler reissued an “overweight” rating and issued a $105.00 target price on shares of CRISPR Therapeutics in a research report on Monday, June 17th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of CRISPR Therapeutics in a research report on Thursday, May 9th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $76.67.

CRISPR Therapeutics Stock Down 6.8 %

CRISPR Therapeutics stock opened at $51.11 on Friday. The business has a fifty day moving average of $57.20 and a two-hundred day moving average of $63.25. The firm has a market cap of $4.34 billion, a P/E ratio of -18.79 and a beta of 1.70. CRISPR Therapeutics has a twelve month low of $37.55 and a twelve month high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($1.43) earnings per share (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 analyst estimates of $25.53 million. The company’s quarterly revenue was down 99.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.67) earnings per share. Equities analysts expect that CRISPR Therapeutics will post -5.52 earnings per share for the current year.

Insider Transactions at CRISPR Therapeutics

In related news, COO Julianne Bruno sold 3,366 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $56.09, for a total value of $188,798.94. Following the transaction, the chief operating officer now directly owns 6,745 shares of the company’s stock, valued at approximately $378,327.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital International Investors raised its holdings in CRISPR Therapeutics by 27.8% in the 1st quarter. Capital International Investors now owns 7,837,074 shares of the company’s stock valued at $534,175,000 after acquiring an additional 1,702,624 shares during the last quarter. SR One Capital Management LP purchased a new stake in shares of CRISPR Therapeutics during the first quarter worth $71,496,000. Norges Bank acquired a new position in shares of CRISPR Therapeutics during the fourth quarter worth $38,661,000. Avoro Capital Advisors LLC acquired a new position in shares of CRISPR Therapeutics during the first quarter worth $28,599,000. Finally, Vestmark Advisory Solutions Inc. acquired a new position in shares of CRISPR Therapeutics during the fourth quarter worth $10,848,000. 69.20% of the stock is owned by hedge funds and other institutional investors.

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.