Royal Bank of Canada Reaffirms Sector Perform Rating for CRISPR Therapeutics (NASDAQ:CRSP)

CRISPR Therapeutics (NASDAQ:CRSP)‘s stock had its “sector perform” rating reiterated by investment analysts at Royal Bank of Canada in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $53.00 price objective on the stock. Royal Bank of Canada’s price target indicates a potential upside of 2.16% from the stock’s current price.

Other analysts have also issued reports about the stock. Cantor Fitzgerald restated a “neutral” rating on shares of CRISPR Therapeutics in a research report on Thursday, August 8th. Barclays decreased their target price on CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Rodman & Renshaw initiated coverage on CRISPR Therapeutics in a research report on Friday, August 2nd. They issued a “buy” rating and a $90.00 price objective for the company. StockNews.com upgraded CRISPR Therapeutics to a “sell” rating in a research report on Tuesday, October 29th. Finally, Truist Financial decreased their price target on shares of CRISPR Therapeutics from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CRISPR Therapeutics has a consensus rating of “Hold” and a consensus price target of $74.94.

CRISPR Therapeutics Stock Up 2.3 %

Shares of NASDAQ:CRSP opened at $51.88 on Wednesday. The company has a market cap of $4.41 billion, a price-to-earnings ratio of -16.06 and a beta of 1.67. The business has a 50 day moving average price of $47.38 and a 200 day moving average price of $52.24. CRISPR Therapeutics has a twelve month low of $43.42 and a twelve month high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($1.01) earnings per share for the quarter, beating the consensus estimate of ($1.42) by $0.41. The business had revenue of $0.60 million during the quarter, compared to the consensus estimate of $6.65 million. During the same period in the prior year, the company posted ($1.41) earnings per share. Analysts anticipate that CRISPR Therapeutics will post -5.57 EPS for the current year.

Insider Activity at CRISPR Therapeutics

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

Institutional Investors Weigh In On CRISPR Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital International Investors increased its position in CRISPR Therapeutics by 27.8% in the first quarter. Capital International Investors now owns 7,837,074 shares of the company’s stock worth $534,175,000 after purchasing an additional 1,702,624 shares during the period. SR One Capital Management LP bought a new position in shares of CRISPR Therapeutics in the 1st quarter worth $71,496,000. Farallon Capital Management LLC bought a new stake in shares of CRISPR Therapeutics in the second quarter worth about $28,625,000. Avoro Capital Advisors LLC acquired a new stake in CRISPR Therapeutics during the 1st quarter worth approximately $28,599,000. Finally, Marshall Wace LLP acquired a new position in CRISPR Therapeutics in the 2nd quarter worth $10,078,000. 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.