CRISPR Therapeutics (NASDAQ:CRSP) Given New $44.00 Price Target at Robert W. Baird

CRISPR Therapeutics (NASDAQ:CRSP) had its price objective cut by Robert W. Baird from $52.00 to $44.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts also recently weighed in on CRSP. Wedbush reduced their target price on shares of CRISPR Therapeutics from $13.00 to $9.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Needham & Company LLC reduced their price objective on CRISPR Therapeutics from $81.00 to $80.00 and set a “buy” rating for the company in a report on Monday. HC Wainwright restated a “buy” rating and issued a $80.00 target price on shares of CRISPR Therapeutics in a research note on Tuesday, September 23rd. Citigroup reaffirmed a “market outperform” rating on shares of CRISPR Therapeutics in a research report on Tuesday. Finally, Wells Fargo & Company set a $75.00 price objective on CRISPR Therapeutics in a report on Monday, October 13th. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $68.11.

CRISPR Therapeutics Price Performance

Shares of CRISPR Therapeutics stock opened at $55.21 on Tuesday. The firm has a market cap of $5.02 billion, a PE ratio of -9.88 and a beta of 1.89. CRISPR Therapeutics has a 1 year low of $30.04 and a 1 year high of $78.48. The stock has a fifty day moving average price of $63.03 and a 200-day moving average price of $53.45.

CRISPR Therapeutics (NASDAQ:CRSP) last posted its quarterly earnings results on Monday, November 10th. The company reported ($1.17) earnings per share for the quarter, beating the consensus estimate of ($1.32) by $0.15. CRISPR Therapeutics had a negative net margin of 1,273.70% and a negative return on equity of 21.49%. The company had revenue of $0.89 million during the quarter, compared to analyst estimates of $8.74 million. As a group, equities analysts anticipate that CRISPR Therapeutics will post -5.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel James R. Kasinger sold 1,076 shares of the business’s stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $66.60, for a total transaction of $71,661.60. Following the completion of the transaction, the general counsel owned 83,402 shares of the company’s stock, valued at approximately $5,554,573.20. The trade was a 1.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Samarth Kulkarni sold 50,895 shares of the company’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $67.91, for a total transaction of $3,456,279.45. Following the sale, the chief executive officer directly owned 254,201 shares in the company, valued at $17,262,789.91. This trade represents a 16.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 56,213 shares of company stock valued at $3,810,458 over the last 90 days. 4.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. ARK Investment Management LLC boosted its stake in CRISPR Therapeutics by 13.3% during the first quarter. ARK Investment Management LLC now owns 10,165,400 shares of the company’s stock valued at $345,929,000 after buying an additional 1,192,336 shares during the period. State Street Corp boosted its position in shares of CRISPR Therapeutics by 35.6% during the 2nd quarter. State Street Corp now owns 3,270,596 shares of the company’s stock valued at $159,082,000 after acquiring an additional 859,334 shares during the last quarter. Orbis Allan Gray Ltd grew its holdings in shares of CRISPR Therapeutics by 76.9% during the second quarter. Orbis Allan Gray Ltd now owns 2,764,532 shares of the company’s stock worth $134,467,000 after purchasing an additional 1,201,600 shares in the last quarter. Vanguard Group Inc. increased its position in shares of CRISPR Therapeutics by 2.9% in the third quarter. Vanguard Group Inc. now owns 2,364,645 shares of the company’s stock worth $153,253,000 after purchasing an additional 66,556 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of CRISPR Therapeutics by 98.1% in the second quarter. Geode Capital Management LLC now owns 2,071,883 shares of the company’s stock worth $100,789,000 after purchasing an additional 1,025,979 shares during the last quarter. Hedge funds and other institutional investors 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.