CRISPR Therapeutics (NASDAQ:CRSP) Given Sector Perform Rating at Royal Bank of Canada

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

Other research analysts have also recently issued research reports about the company. Rodman & Renshaw assumed coverage on CRISPR Therapeutics in a research report on Friday, August 2nd. They issued a “buy” rating and a $90.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and set a $84.00 price objective on shares of CRISPR Therapeutics in a research note on Wednesday. StockNews.com upgraded shares of CRISPR Therapeutics to a “sell” rating in a research note on Tuesday, October 29th. Barclays dropped their price target on CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Stifel Nicolaus cut their target price on shares of CRISPR Therapeutics from $60.00 to $59.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $74.94.

CRISPR Therapeutics Stock Performance

NASDAQ:CRSP opened at $51.88 on Wednesday. The company has a 50 day simple moving average of $47.38 and a two-hundred day simple moving average of $52.24. CRISPR Therapeutics has a fifty-two week low of $43.42 and a fifty-two week high of $91.10. The company has a market capitalization of $4.41 billion, a PE ratio of -16.06 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($1.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.41. The firm had revenue of $0.60 million for the quarter, compared to analyst estimates of $6.65 million. During the same period last year, the company posted ($1.41) earnings per share. Research analysts predict that CRISPR Therapeutics will post -5.57 EPS for the current year.

Insider Activity

In related news, CEO Samarth Kulkarni sold 4,293 shares of the company’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 value of $198,680.04. Following the sale, the chief executive officer now owns 226,540 shares in the company, valued at $10,484,271.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Samarth Kulkarni sold 4,293 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $46.28, for a total value of $198,680.04. Following the transaction, the chief executive officer now owns 226,540 shares in the company, valued at $10,484,271.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel James R. Kasinger sold 1,089 shares of the stock in a transaction dated 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 in the company, valued at $2,896,989.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Global Trust Asset Management LLC boosted its stake in CRISPR Therapeutics by 150.0% during the 2nd quarter. Global Trust Asset Management LLC now owns 500 shares of the company’s stock valued at $27,000 after purchasing an additional 300 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of CRISPR Therapeutics by 95.5% in the second quarter. Larson Financial Group LLC now owns 565 shares of the company’s stock worth $31,000 after acquiring an additional 276 shares during the period. GPS Wealth Strategies Group LLC raised its holdings in shares of CRISPR Therapeutics by 99.7% during the second quarter. GPS Wealth Strategies Group LLC now owns 615 shares of the company’s stock valued at $33,000 after purchasing an additional 307 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in CRISPR Therapeutics during the second quarter valued at approximately $35,000. Finally, Denver PWM LLC bought a new position in shares of CRISPR Therapeutics during the 2nd quarter valued at $45,000. 69.20% of the stock is currently 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.