Chardan Capital Has Lowered Expectations for CRISPR Therapeutics (NASDAQ:CRSP) Stock Price

CRISPR Therapeutics (NASDAQ:CRSP) had its target price dropped by analysts at Chardan Capital from $94.00 to $84.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Chardan Capital’s target price would suggest a potential upside of 94.00% from the company’s current price.

A number of other research analysts have also recently commented on CRSP. TD Cowen upgraded CRISPR Therapeutics from a “sell” rating to a “hold” rating and set a $35.00 target price for the company in a research note on Wednesday. Royal Bank of Canada reduced their target price on shares of CRISPR Therapeutics from $53.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Barclays lifted their price target on shares of CRISPR Therapeutics from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday. Truist Financial upped their price objective on shares of CRISPR Therapeutics from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, HC Wainwright reiterated a “buy” rating and set a $65.00 target price on shares of CRISPR Therapeutics in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, CRISPR Therapeutics has a consensus rating of “Hold” and a consensus target price of $75.56.

CRISPR Therapeutics Stock Performance

CRSP opened at $43.30 on Thursday. The stock’s 50 day moving average price is $42.06 and its 200-day moving average price is $46.25. CRISPR Therapeutics has a 52-week low of $36.52 and a 52-week high of $91.10. The stock has a market capitalization of $3.70 billion, a PE ratio of -15.30 and a beta of 1.67.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its earnings results on Tuesday, February 11th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($1.15) by $0.71. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. Research analysts forecast that CRISPR Therapeutics will post -5.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other CRISPR Therapeutics news, CEO Samarth Kulkarni sold 15,000 shares of CRISPR Therapeutics stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $55.10, for a total transaction of $826,500.00. Following the transaction, the chief executive officer now owns 181,540 shares of the company’s stock, valued at $10,002,854. The trade was a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.10% of the company’s stock.

Institutional Trading of CRISPR Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of CRSP. Capital Market Strategies LLC bought a new position in CRISPR Therapeutics in the 4th quarter worth $461,000. KBC Group NV boosted its stake in shares of CRISPR Therapeutics by 2,047.4% in the fourth quarter. KBC Group NV now owns 60,514 shares of the company’s stock worth $2,382,000 after acquiring an additional 57,696 shares during the period. Capital Advisors Inc. OK grew its position in shares of CRISPR Therapeutics by 8.1% during the third quarter. Capital Advisors Inc. OK now owns 300,589 shares of the company’s stock worth $14,122,000 after purchasing an additional 22,583 shares in the last quarter. Geode Capital Management LLC raised its stake in CRISPR Therapeutics by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,008,214 shares of the company’s stock valued at $47,383,000 after purchasing an additional 35,196 shares during the period. Finally, State Street Corp lifted its holdings in CRISPR Therapeutics by 25.0% in the 3rd quarter. State Street Corp now owns 2,992,988 shares of the company’s stock worth $140,611,000 after purchasing an additional 599,304 shares in the last quarter. 69.20% of the stock is currently owned by 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.