Truist Financial Trims CRISPR Therapeutics (NASDAQ:CRSP) Target Price to $100.00

CRISPR Therapeutics (NASDAQ:CRSP) had its price target lowered by Truist Financial from $120.00 to $100.00 in a research note published on Monday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. Robert W. Baird raised their price objective on CRISPR Therapeutics from $46.00 to $52.00 and gave the stock a neutral rating in a research note on Thursday, May 9th. Chardan Capital reduced their price objective on CRISPR Therapeutics from $112.00 to $94.00 and set a buy rating on the stock in a research note on Tuesday, August 6th. JMP Securities reiterated a market outperform rating and issued a $86.00 target price on shares of CRISPR Therapeutics in a research note on Thursday, May 9th. Wells Fargo & Company cut their target price on CRISPR Therapeutics from $70.00 to $65.00 and set an equal weight rating on the stock in a research note on Thursday, May 9th. Finally, Rodman & Renshaw initiated coverage on CRISPR Therapeutics in a research note on Friday, August 2nd. They issued a buy rating and a $90.00 target price on the stock. 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $75.63.

CRISPR Therapeutics Trading Down 3.8 %

CRSP stock opened at $46.41 on Monday. CRISPR Therapeutics has a twelve month low of $37.55 and a twelve month high of $91.10. The company has a market capitalization of $3.94 billion, a P/E ratio of -17.03 and a beta of 1.70. The firm has a 50 day simple moving average of $56.18 and a 200-day simple moving average of $62.53.

CRISPR Therapeutics (NASDAQ:CRSP) last released its quarterly earnings results on Monday, August 5th. The company reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.43) by ($0.06). The firm had revenue of $0.52 million for the quarter, compared to analyst estimates of $12.31 million. During the same period in the prior year, the firm earned ($0.98) earnings per share. The company’s quarterly revenue was down 99.3% on a year-over-year basis. On average, research analysts predict that CRISPR Therapeutics will post -5.52 EPS 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 that occurred on Friday, June 21st. The shares were sold at an average price of $56.09, for a total transaction of $188,798.94. Following the completion of the sale, the chief operating officer now directly owns 6,745 shares in the company, valued at $378,327.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On CRISPR Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of CRSP. Capital International Investors lifted its stake in CRISPR Therapeutics by 27.8% during the first quarter. Capital International Investors now owns 7,837,074 shares of the company’s stock valued at $534,175,000 after buying an additional 1,702,624 shares in the last quarter. SR One Capital Management LP acquired a new position in CRISPR Therapeutics in the 1st quarter worth approximately $71,496,000. Norges Bank purchased a new position in CRISPR Therapeutics during the 4th quarter worth approximately $38,661,000. Farallon Capital Management LLC acquired a new stake in CRISPR Therapeutics during the 2nd quarter valued at $28,625,000. Finally, Avoro Capital Advisors LLC purchased a new stake in shares of CRISPR Therapeutics in the first quarter valued at $28,599,000. Institutional investors and hedge funds own 69.20% of the company’s stock.

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.