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 stock analysts at Royal Bank of Canada in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $53.00 price target on the stock. Royal Bank of Canada’s price target indicates a potential upside of 5.62% from the company’s previous close.

Several other research firms have also recently issued reports on CRSP. Rodman & Renshaw assumed coverage on shares of CRISPR Therapeutics in a research report on Friday, August 2nd. They issued a “buy” rating and a $90.00 target price on the stock. StockNews.com upgraded CRISPR Therapeutics to a “sell” rating in a research note on Tuesday, October 29th. Chardan Capital decreased their target price on CRISPR Therapeutics from $112.00 to $94.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 price target on shares of CRISPR Therapeutics 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 on the stock in a research note on Tuesday, August 6th. Three 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.94.

CRISPR Therapeutics Trading Down 0.4 %

Shares of CRISPR Therapeutics stock traded down $0.18 during trading hours on Wednesday, reaching $50.18. 845,874 shares of the company’s stock were exchanged, compared to its average volume of 1,449,141. CRISPR Therapeutics has a 52-week low of $43.42 and a 52-week high of $91.10. The company has a fifty day moving average of $47.22 and a 200-day moving average of $52.25. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of -15.48 and a beta of 1.67.

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

Insider Transactions at CRISPR Therapeutics

In related news, CEO Samarth Kulkarni sold 4,293 shares of CRISPR Therapeutics stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $46.28, for a total value of $198,680.04. Following the completion of the transaction, the chief executive officer now directly owns 226,540 shares in the company, valued at approximately $10,484,271.20. This trade 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 accessible through this link. 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 transaction of $198,680.04. Following the sale, the chief executive officer now directly owns 226,540 shares of the company’s stock, valued at approximately $10,484,271.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel James R. Kasinger sold 1,089 shares of CRISPR Therapeutics stock in a transaction on Monday, October 14th. The stock was sold at an average price of $46.28, for a total transaction of $50,398.92. Following the completion of the transaction, the general counsel now directly owns 62,597 shares of the company’s stock, valued at approximately $2,896,989.16. This 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

Several institutional investors and hedge funds have recently bought and sold shares of CRSP. Capital International Investors grew its holdings in shares of 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 purchasing an additional 1,702,624 shares during the last quarter. SR One Capital Management LP bought a new position in CRISPR Therapeutics during the 1st quarter worth $71,496,000. Farallon Capital Management LLC bought a new position in CRISPR Therapeutics during the 2nd quarter worth $28,625,000. Avoro Capital Advisors LLC acquired a new stake in CRISPR Therapeutics in the first quarter worth $28,599,000. Finally, Marshall Wace LLP bought a new stake in CRISPR Therapeutics in the second quarter valued at $10,078,000. 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.