CRISPR Therapeutics (NASDAQ:CRSP) Price Target Raised to $120.00 at Truist Financial

CRISPR Therapeutics (NASDAQ:CRSP) had its price target increased by Truist Financial from $100.00 to $120.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

CRSP has been the subject of several other reports. TD Cowen upgraded CRISPR Therapeutics from a “sell” rating to a “hold” rating and set a $35.00 price target for the company in a research note on Wednesday. JMP Securities reaffirmed a “market outperform” rating and set a $86.00 price target on shares of CRISPR Therapeutics in a research report on Friday, December 20th. Chardan Capital reiterated a “buy” rating and issued a $94.00 price target on shares of CRISPR Therapeutics in a research report on Tuesday, December 10th. Barclays raised their price objective on CRISPR Therapeutics from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Royal Bank of Canada cut their target price on CRISPR Therapeutics from $53.00 to $48.00 and set a “sector perform” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, CRISPR Therapeutics currently has an average rating of “Hold” and a consensus price target of $76.11.

CRISPR Therapeutics Stock Up 9.3 %

Shares of CRISPR Therapeutics stock opened at $43.30 on Wednesday. The business has a fifty day simple moving average of $42.06 and a two-hundred day simple moving average of $46.25. CRISPR Therapeutics has a 1 year low of $36.52 and a 1 year high of $91.10.

CRISPR Therapeutics (NASDAQ:CRSP) last announced 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%. Sell-side analysts predict that CRISPR Therapeutics will post -5.08 EPS for the current year.

Insider Buying and Selling at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 15,000 shares of CRISPR Therapeutics stock in a transaction 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 completion of the transaction, the chief executive officer now owns 181,540 shares of the company’s stock, valued at $10,002,854. This trade represents a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CRSP. Envestnet Asset Management Inc. increased its holdings in CRISPR Therapeutics by 2.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 56,033 shares of the company’s stock worth $2,205,000 after purchasing an additional 1,256 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in CRISPR Therapeutics in the fourth quarter worth approximately $285,000. Wells Fargo & Company MN grew its stake in CRISPR Therapeutics by 8.4% in the fourth quarter. Wells Fargo & Company MN now owns 220,123 shares of the company’s stock valued at $8,664,000 after acquiring an additional 17,094 shares during the period. ExodusPoint Capital Management LP bought a new stake in shares of CRISPR Therapeutics during the fourth quarter valued at approximately $1,883,000. Finally, Pictet Asset Management Holding SA raised its position in shares of CRISPR Therapeutics by 9.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 272,704 shares of the company’s stock worth $10,734,000 after purchasing an additional 22,414 shares during the period. 69.20% of the stock is owned by institutional investors.

CRISPR Therapeutics Company Profile

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.